XXIX Metal Corp. Thanks Chapais Residents for Active Participation in Opemiska Project Consultations
XXIX Metal Corp. Thanks Chapais Residents
for Active Participation in Opemiska Project
Consultations
Highlights:
XXIX met with Chapais citizens and Chapais City Council on October 21 and 22 as part of its
voluntary pre-consultation process.
Opemiska is a transformative project for Chapais and the region, with estimated investments of
over C$3.5 billion over ~20 years.
XXIX to continue with open dialogue and citizen engagement with upcoming thematic workshops,
regular newsletters, and the creation of a monitoring committee.
Chapais, Quebec--(Newsfile Corp. - October 24, 2025) - XXIX Metal Corp. (TSXV: XXIX) (OTCQB:
QCCUF) (FSE: 5LW0) ("
XXIX
" or the "Company") wishes to thank the residents of Chapais for their
participation in the public information and discussion evening and citizens' café held on October 21 and
22. The Company also met with Chapais City Council on October 21. These events marked an important
milestone in XXIX's ongoing collaboration with the local community as the Company presented the
results of its Preliminary Economic Assessment (the "
PEA
") for the Opemiska Copper Project, located
within the municipal boundaries of Chapais.
These meetings were part of XXIX's voluntary pre-consultation process designed to promote open
dialogue, share information, and hear directly from residents as the Company advances the
redevelopment of this historic copper mine into a modern, sustainable operation.
A Project with Strong Potential to Transform the Region
The Opemiska Project envisions the reactivation of a historic high-grade copper mining site, with
estimated investments of more than C$3.5 billion over ~20 years, and a processing plant located within
the municipal boundaries of Chapais to maximize local benefits.
Opemiska demonstrates strong economic potential and is among Canada's most promising copper
development projects. Full Details for XXIX's PEA are available in the Company's news release dated
October 21, 2025
, including:
Robust after-tax base case economics:
C$505M after-tax NPV (8%)
27.2% after-tax IRR
Using spot metal prices:
C$897M after-tax NPV (8%)
39.3% after-tax IRR
Rapid payback: 2.3 years on C$617M initial capital
High-grade early years: average annual production of 59 million lbs of copper, 34,000 oz of gold,
and 174,000 oz of silver over the first six years
Low-cost producer: US$1.03/lb C1 cash cost (net of by-product credits) during the first six years,
placing Opemiska in the lower quartile of the global cost curve
The PEA further highlights significant leverage to rising copper and gold prices, with an estimated C$4.4
billion in life-of-mine revenue, and identifies strong resource expansion potential, particularly at the
Cooke gold zone where exploration drilling continues.
Open Dialogue and Citizen Engagement
The October 21 and 22 sessions allowed residents to ask questions and share feedback directly with
XXIX's management and technical team, including Guy Le Bel, Stephen Stewart, Denis McNichols,
Marcelino Jobin, Ahcene Gaoui, André Bouchard, and Antoine Schwartzmann.
Citizen discussions focused on topics such as:
Management of mining waste and environmental safeguards
Positive economic and demographic impacts for Chapais
Local hiring for approximately 450 employees and support for new families
Relocation of residents and businesses
Infrastructure improvements and the proposed bypass route
Commitments to transparency and citizen participation
XXIX reaffirmed its commitment to maintaining an open, ongoing dialogue with residents as the project
advances.
Next Steps
The Company's next phase of engagement includes:
A minimum of three thematic workshops over the next 12-18 months
The creation of a monitoring committee
Regular newsletters and open communication channels for residents
The presentation used during the information evening and meeting summaries will be made available on
the XXIX website dedicated to Chapais community (
link
).
"The results of the PEA confirm that Opemiska has the potential to be a profitable, low-cost copper
operation that brings long-term economic and social value to Chapais and the region," said Guy Le Bel,
President and CEO, XXIX Metal Corp.
About XXIX Metal Corp.
XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets.
The Opemiska Project, one of Canada's highest-grade open pitable copper deposits, spans 21,333
hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the
Horne Smelter. An October 2025 Preliminary Economic Assessment outlined a 12,500 tpd open pit
operation over a 17-year mine life, generating an after-tax NPV8% of $505M, IRR of 27.2%, and a 2.3-
year payback period ($4.35/lb copper price, $3,000/oz gold price, $30/oz silver price). The Thierry
Project hosts the K1 (near-surface) and the past-producing K2 (underground & surface) zones (see
XXIX news release dated October 1, 2024 for details regarding resources). Thierry has significant
infrastructure in place including an all-season road, an airport within 5km, a provincial power grid within
8km, and nearby rail. With these two high-potential projects, the Company has solidified its position as a
key player in the Canadian copper sector and has established itself as one of Eastern Canada's largest
copper developer.
For further information, please contact:
Marcelino Jobin, Community Relations Coordinator
Phone: 418.770.8283
Email:
www.xxix.ca
Forward-Looking Statements
The reader is advised that the Preliminary Economic Assessment (PEA) summarized in this news
release is intended to provide only an initial, high-level review of Opemiska's economic potential. The
PEA mine plan and economic model include numerous assumptions and the use of inferred mineral
resources. Inferred mineral resources are considered to be too speculative to be used in an economic
analysis except as allowed for by NI 43-101 in PEA studies. There is no guarantee that inferred mineral
resources can be converted to indicated or measured mineral resources, and as such, there is no
guarantee Opemiska's economics described herein will be achieved. XXIX may be eligible for Clean
Technology Manufacturing Investment Tax Credit (CTM-ITC). This legislation has been enacted on June
20, 2024. There is no guarantee the Company will be able to access the CTM-ITC.
This news release contains certain forward-looking statements, including statements about the
Company's belief that Opemiska has potential for continued growth, various cost, price and production
assumptions used to inform the PEA, and outstanding risk factors, including Opemiska's proximity to the
Town of Chapais, Historical Assay validation, Geotechnical considerations of open stopes in the eastern
pit wall, the Venture sill, the Gwillim fault, host rock competency and Historical Stope Modeling.
Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar
words or phrases, have been used to identify these forward-looking statements. These statements
reflect management's current beliefs and are based on information currently available to management as
at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could
cause actual results, performance or achievements to differ materially from the results discussed or
implied in the forward-looking statements. Such factors include, among other things: risks related to
uncertainties inherent in drill results and the estimation of mineral resources; and risks associated with
executing the Company's plans and intentions. These factors should be considered carefully, and
readers should not place undue reliance on the forward-looking statements. Although the forward-looking
statements contained in this news release are based upon what management believes to be reasonable
assumptions, the Company cannot assure readers that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update or revise them to reflect new events or
circumstances, except as required by law.
Non-IFRS Financial Measures
XXIX has included certain non-IFRS financial measures in this news release, such as C1 Cash Cost
which are not measures recognized under IFRS and do not have a standardized meaning prescribed by
IFRS. As a result, these measures may not be comparable to similar measures reported by other
corporations. Each of these measures used are intended to provide additional information to the user
and should not be considered in isolation or as a substitute for measures prepared in accordance with
IFRS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/271749