Excerpts from July 2025 press and January 2026

Element 29 Identifies Multiple Large Untested MT Geophysical Anomalies at Elida Porphyry Cu-Mo-Ag Deposit
Vancouver, British Columbia – June 26, 2025 – Element 29 Resources Inc. (TSXV: ECU | OTCQB: EMTRF | BVL: ECU) (“Element 29” or the “Company”) is pleased to announce the results of the recently completed magnetotellurics (“MT”) geophysical survey at its flagship Elida Porphyry Copper-Molybdenum-Silver (“Cu-Mo-Ag”) Deposit (“Elida”) in central Perú.

Element 29 has completed a large-scale MT geophysical survey at Elida, targeting mineralization outside and beneath the current pit-constrained Inferred Mineral Resource Estimate.

Richard Osmond, President and CEO, states, “The MT geophysical survey has been highly successful in outlining the known Elida orebody, confirming its continuation at depth, and identifying multiple new geophysical anomalies that represent compelling targets for further exploration. The strong correlation between the high-resistivity anomaly and existing Cu-Mo-Ag mineralization supports our current geological model, while the presence of several large, untested low-resistivity anomalies highlights the potential for resource expansion and new discoveries. With this MT 3D resistivity model in hand, we are now well-positioned to unlock the full potential of the Elida Project.”

Based on a total of 122 MT stations collected over a 5 km by 6 km survey area, a high-resolution, three-dimensional (“3D”) resistivity model of the subsurface was generated to depths exceeding 3,000 metres (“m”). The MT 3D resistivity model outlined a 1,000 m long east-west trending high-resistivity anomaly running through the centre of the Elida deposit which correlates well with the Elida porphyry intrusive complex intruding predominately potassic-altered volcano-sedimentary host-rocks. This high-resistivity anomaly is straddled by several large low-resistivity anomalies that correlate with intensely hydrothermally altered volcano-sedimentary host-rocks cut by narrow early to late mineral porphyry fingers and dykes. The Cu-Mo-Ag mineralization shows a strong correlation with the high-resistivity anomaly, with higher-grade Cu-mineralization occurring along the transition from high to low resistivity. This transition likely maps the emplacement of the Elida porphyry intrusive complex into the altered volcano-sedimentary host rocks.

Figure 1: MT resistivity anomalies from a level slice at 1,450 m (a.s.l) of the 3D resistivity model (ohm.m) along with the Elida pit-constrained Inferred Mineral Resource Estimate at Zone 1, the phyllic hydrothermal alteration footprint and target zones.

Element 29 Reports Longest and Highest-Grade Intercepts to Date at Elida with 1,489 m of 0.58% CuEq²

Figure 3: An east-west oriented 2D cross section through the 3D MT resistivity model along northing 8,835,325N also containing drill hole ELID037. The section shows the length-weighted assay intervals of CuEq² (%) geochemistry for ELID037 as well as for the historical drill holes. The section also shows a 2D vertical slice along the cross section through the existing pit-constrained Mineral Resource¹.