XXIX Metal Corp Acquires Pluto Property in Opemiska District

XXIX Metal Corp. has expanded its exploration footprint in the Opemiska district, Quebec, by acquiring the Pluto Property through a share issuance. The company issued 287,403 common shares to Germanium Mining Corp. to complete the share issuance required under the option agreement. This agreement provides XXIX with the right to acquire a 100% interest in the Pluto Property, located approximately 10 kilometers from the company’s flagship Opemiska Project.

The shares were issued at a deemed price of C$0.174 per share, based on the 20-day volume-weighted average trading price of XXIX's common shares on the TSX Venture Exchange ending September 8, 2026. The shares are subject to a four-month and one-day statutory hold period from the date of issuance.

Following the issuance of the shares, XXIX's remaining obligation under the option agreement is to complete exploration expenditures of at least C$250,000 on the Pluto Property by December 31, 2028. This investment is expected to improve the company's regional exploration and logistics capabilities, particularly in the context of the broader Opemiska district.

XXIX views the Pluto Property as a complement to its ongoing strategy centered on advancing the Opemiska and Thierry projects. The company's strategy remains focused on these two significant Canadian copper assets, with the Opemiska Project being one of Canada's highest-grade open pit copper deposits. The Opemiska Project spans 21,333 hectares and has strong infrastructure, including 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 $505 million, an IRR of 27.2%, and a 2.3-year payback period.

The recent forestry road development near the Pluto Property has improved access, potentially reducing the cost of initial fieldwork. Historical work indicates copper-gold-silver potential, which requires modern validation. XXIX plans to compile historical data, complete reconnaissance mapping and prospecting, rank targets, and assess whether trenching or drilling is warranted.

Denis McNichols, Vice President Exploration for XXIX Metal, stated, "The acquisition of the Pluto Property adds valuable exploration exposure near our flagship Opemiska Project. This complements our strategy and provides new early-stage exploration potential around the Opemiska Project. If field validation supports historical information, Pluto could provide additional targets for future exploration."

The company's next steps include compiling historical data, conducting reconnaissance mapping and prospecting, and assessing the viability of further exploration activities. The Pluto Property is not currently part of the Opemiska mineral resource or development plan and will only be advanced if results justify further work.

XXIX Metal Corp. continues to solidify its position as a key player in the Canadian copper sector, with the Opemiska and Thierry projects as its primary focus. The company is committed to advancing these projects and exploring new opportunities in the region.