Element 29 Resources Secures C$35.5 Million to Advance Copper Exploration in Perú

Element 29 Resources Inc. (TSX.V: ECU) (OTCQB: EMTRF) (BVL: ECU) has closed a non-brokered private placement, issuing 32,245,269 common shares at C$1.10 per share for gross proceeds of approximately C$35.47 million. The company announced it will use the proceeds to advance exploration activities in Perú, specifically funding its 2026 drilling program at the Elida copper-molybdenum-silver project. This financing round included participation from new strategic investor Alpayana S.A.C. and other investors who are supporting the company's growth strategy in the region.

The significance of this capital raise lies in its timing and purpose within the global copper market. Copper is a critical metal for the global energy transition, essential for electric vehicles, renewable energy infrastructure, and power grids. Perú is recognized as a major copper-producing country and is considered one of the lowest-cost, lowest-risk mining jurisdictions globally. Securing C$35.5 million in funding allows Element 29 to aggressively pursue the expansion of what it describes as a Tier-1 copper deposit. The Elida project is a porphyry Cu-Mo-Ag deposit located in west-central Perú. The company's principal objective is to explore and significantly expand this resource.

Beyond Elida, Element 29 Resources holds a portfolio of other prospective projects in Perú totaling more than 25,000 hectares of titled concessions. These include the Flor de Cobre porphyry Cu-Mo prospect, situated in the Southern Perú Copper Belt approximately 26 kilometers from the large-scale Cerro Verde copper mine operated by Freeport-McMoRan and Buenaventura. The company also holds the Paka and Pahuay porphyry Cu skarn prospects. All these projects are noted for their favorable locations, with access to existing infrastructure such as roads, powerlines, ports, water, and a skilled local workforce, which are crucial factors for future mine development feasibility and cost management.

The involvement of Alpayana S.A.C. as a strategic investor is a notable aspect of this private placement. Strategic investors often provide not only capital but also industry expertise, networks, and long-term partnership potential, which can be invaluable for a junior exploration company like Element 29. This successful financing demonstrates investor confidence in the company's management team, its asset base in a premier mining jurisdiction, and the underlying copper commodity thesis. The funds will directly enable the planned 2026 drilling program, a critical step in defining the resource and advancing the Elida project along the development pathway. More information about the company is available at https://www.e29copper.com. The press release detailing this announcement can be viewed at https://ibn.fm/pM2E9.