ELEMENT 29 RES INC - EMTRF STOCK NEWS

Element 29 Resources (TSXV: ECU) (OTCQB: EMTRF) has shared key developments from 2024 and plans for 2025. The company underwent significant leadership changes, with Richard Osmond transitioning to President and CEO, and Manuel Montoya joining as Chief Technical Officer. The company successfully raised $3.26 million from shareholders.

In 2024, Element 29 completed two deep diamond drill holes at the Elida Porphyry Cu-Mo-Ag Deposit, both intersecting over 950 metres of porphyry alteration. Drill hole ELID033 reached 1,109.6 metres depth, with assay results pending.

For 2025, the company plans to: restart the Elida Phase III drill program in Q2 with a 5,000-metre campaign; conduct an AMT geophysical survey in Q1; expand drill permits at Elida; secure permits for Flor de Cobre drilling; and initiate exploration activities at the Paka project, including permit applications and geophysical surveys.

Element 29 Resources has completed the first two drill holes (2,249.8 metres) of its Phase-III diamond drill program at the Elida Porphyry Copper-Molybdenum-Silver Deposit in central Perú. Both holes intersected strong porphyry-related hydrothermal alteration from bedrock surface to depths exceeding 950 meters, indicating potential for copper-molybdenum-silver mineralization.

The program aims to expand the existing pit-constrained initial Inferred Mineral Resource of 321.7 million tonnes at 0.39% Cu, 0.03% Mo, and 2.61 g/t Ag. The company plans to restart drilling in early Q2 2025 following the rainy season. Geochemical assay results are expected in the coming weeks.

Element 29 Resources has received exemption from the Prior Consultation process from Peru's Ministry of Energy and Mines for exploration drilling at its Atravesado porphyry copper-molybdenum target. This follows the previously obtained DIA environmental approval to drill from up to 40 platforms. The company plans to conduct initial drilling in 2025 after completing the surface access agreement.

The Atravesado target, part of the Flor de Cobre project, spans approximately 1.5km x 2.0km and shows promising indicators including Cu-oxide mineralization, anomalous surface rock Cu-Mo geochemistry, and geophysical anomalies. The company has also retained German Mining Networks for investor relations services in Europe for C$6,800 per month.

Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) has commenced a resource expansion drill program at its Elida Porphyry Copper-Molybdenum-Silver Deposit in central Peru. The program includes up to 4,000 meters of diamond drilling, aiming to expand the existing pit-constrained inferred mineral resource and increase overall grades.

The first drill hole, ELID033, is designed to test the continuation of mineralization intersected in ELID032, which returned 404.5 m of 0.55% CuEq. The program will target higher-grade porphyry copper mineralization and explore depths of up to 1,000 m from bedrock surface.

Element 29 has also granted 5,250,000 stock options to directors, officers, employees, and consultants, exercisable at $0.255 per share for 5 years. Additionally, the company granted 275,000 deferred share units to directors and 265,000 restricted share units to employees and consultants.

Element 29 Resources announced the results of its 2024 Annual General Meeting on June 27. Shareholders approved all proposals, including setting the number of directors at five. The elected board members are Patrick Elliott, Chet Idziszek, Brad Mercer, Richard Osmond, and Mary-Carmen Vera. Brad Mercer was appointed the independent Chair of the Board. Davidson & Company LLP was re-appointed as auditors, and the renewal of the company's Stock Option Plan was also approved. Detailed voting results are available on SEDAR+.

Element 29 Resources announces the retirement of board member Robert Willis and nominates Brad Mercer, Chet Idziszek, and Mary-Carmen Vera as new independent directors.

The elections will occur at the Annual General Meeting on June 27, 2024.

Mr. Mercer, a retired COO of Capstone Copper Corp., has extensive geoscientific experience. Mr. Idziszek, an exploration geologist with over 40 years in the field, is known for significant mineral discoveries. Ms. Vera, a Peruvian geological engineer, specializes in ESG and sustainability practices.

Additionally, the company has granted 50,000 deferred share units to a director under the effective RSU/DSU Plan as of May 31, 2024.

Element 29 Resources Inc. appoints Stellium Service as Investor Relations Consultant for investor communications and outreach programs in Europe and Australasia.

Element 29 Resources Inc. has received environmental permit approval for exploration drilling at its Atravesado porphyry target in southern Peru. The company plans to partner with GlobeTrotters Resource Group to advance its portfolio of porphyry Cu projects. The Atravesado target is a large Cu target with significant exploration potential, and the company is negotiating a surface rights agreement with the local community.

Element 29 Resources Inc. appoints Manuel Montoya as Chief Technical Officer, bringing over 35 years of experience in the natural resource sector. Montoya's expertise in exploring and making discoveries in South America adds value to Element 29's copper projects, including the Elida deposit and Atravezado target at Flor de Cobre.