XXIX Metal Publishes Opemiska's Preliminary Economic Assessment Technical Report
XXIX Metal Publishes Opemiska's Preliminary
Economic Assessment Technical Report
Toronto, Ontario--(Newsfile Corp. - December 3, 2025) -
XXIX Metal Corp.
(TSXV: XXIX) (OTQB:
QCCUF) (FSE: 5LW0) ("XXIX" or the "Company") is pleased to report that it has filed the independent
Preliminary Economic Assessment ("PEA") technical report for its 100%-owned Opemiska Project in
Chapais, Quebec.
Highlights Include:
Total payable copper across Opemiska 17 year mine life
:
715 million pounds of copper
409 thousand ounces of gold
2.08 million ounces of silver
Robust after-tax base case economics:
C$505M after-tax NPV8% (C$897 after-tax NPV8% using spot pricing)
27.2% after-tax IRR (39.3% after-tax IRR using spot pricing)
Rapid payback:
2.3-year Base Case payback of C$617M initial capital resulting from upfront
high-grading.
Potential High-grade annual recovered payable production across the first six years:
59 million pounds of copper per year
34 thousand ounces of gold per year
174 thousand ounces of silver per year
Low Cost Producer:
Opemiska is in the first quartile of the cost curve with US$1.03/lb C1 cash
cost net of by-product credits across the first six years. US$1.40/lb net of by-product credits over
the life of mine.
Significant leverage to rising copper and gold prices, with
$4.40
billion in life of mine
revenue
70.7% copper
27.9% gold
1.4% silver
Plenty of Resource upside including Cooke gold zone with active drilling underway.
Full PEA Technical Report is available on Sedar+ and XXIX's website
Technical Information and Technical Report Filing
The Technical Report, titled "NI 43-101 Preliminary Economic Assessment (PEA) Technical Report for
the Opemiska Copper Project, Chapais, Quebec," is dated effective October 17, 2025, with an issue
date of December 2, 2025.
The independent qualified persons for the PEA, as defined by National Instrument ("NI") 43-101, are
Renee Barrette, ing., Principal Metallurgist for Ausenco Engineering Canada ULC for metallurgy
and process plant design.
Pierre-Luc Richard, P. Geo for PLR Resources Inc.
Jean-François St-Laurent, ing. PEng (ON), M.Sc, Principal Consultant for SRK Consulting
(Canada) inc. for the Tailings Management Facility.
Charles Veilleux, ing, Senior Consultant for SRK Consulting (Canada) inc. for the Hydrology, Site
Wide Water balancing and mine site surface water management facilities.
Maude Lévesque Michaud, ing., from Geodoz conseil for environmental and social considerations.
Stephen Coates, P. Eng. for Evomine Consulting for mining methods.
Alexandre Burelle, P. Eng. for Evomine Consulting for cost estimation and financial analysis.
The Technical Report was prepared and compiled by Ausenco, with inputs from the independent
qualified persons listed above.
The PEA incorporates 44.3 Mt of inferred mineral resources (0.32% Cu, 0.18 g/t Au, 0.77 g/t Ag).
Inferred mineral resources can only be used for economic analysis within a PEA.
The Technical Report is available under the Company's issuer profile on
SEDAR+
and on its website at
www.xxix.ca
. The PEA results were originally announced in the Company's
October 21, 2025
, news
release, also available on our website.
View: Opemiska PEA Technical Report (NI 43-101)
Project Overview
The 100%-owned Opemiska spans 21,333 hectares in Quebec's Chapais-Chibougamau region, with
significant infrastructure in place. Opemiska comprises four past-producing mines, two of which
(Springer and Perry) underpin the current PEA. Cooke, a third past-producing mine located ~3km east
of the proposed pit is currently being evaluated for its gold resource potential.
Location of the Opemiska Project
QP Statement
The technical information contained in this news release has been reviewed and approved by Denis
McNichols, P.Geo and géo., Vice President Exploration for XXIX Metal, a Qualified Person, as defined
in "National Instrument 43-101, Standards of Disclosure for Mineral Projects.
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.
About Ausenco Engineering Canada ULC
Ausenco is a global engineering, consulting and project delivery firm built for the minerals and metals
industry. With three decades of global experience, we work alongside clients to navigate complex
challenges from first study to final closure-across every phase, on five continents. Deeply rooted in the
minerals and metals industry, our people combine technical depth, hands-on expertise, and hard-earned
insight to deliver practical, forward-thinking solutions that reduce risk and unlock value
(
www.ausenco.com
).
For further information, please contact:
Guy Le Bel, Chief Executive Officer
Phone: 514.654.8550
Email:
Forward-Looking Statements
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.
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.
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/276735