Xxix Metal Corp. · TSXV:XXIX
Xxix Metal — Investor Presentation (October 2025)
31 slides from Xxix Metal's investor presentation, Oct 21, 2025
Slide 1: Opemiska Copper Project, Quebec – PEA Results
OPEMISKA COPPER PROJECT, QUEBEC PEA RESULTS INVESTOR PRESENTATION: Q4 2025 XXIX: TSXV | QCCUF: OTCQB | 5LW0: FSE
Slide 2: Grade, Scale & Infrastructure
GRADE, SCALE & INFRASTRUCTURE Two high quality assets 1. Opemiska: highest-grade open pit copper projects in North America. 2. Thierry: largest primary copper resource in Ontario with potential to increase resource multifold. Opemiska PEA Base Case economics • $505M NPV8%, 27.2% IRR and 2.3-year pay
Slide 3: Opemiska PEA Highlights
OPEMISKA PEA HIGHLIGHTS Spot Price Base Case After Tax Financial Results After Tax Financial Results Production Summary $897M $505M 64 Mlbs/yr NPV 8% NPV 8% Copper Eq. Produced 39.3% 27.2% 12,500 tpd IRR IRR Daily Throughput 1.8 Years 2.3 Years 17 Years Payback Payback Mine Life Spot Pricing : Base
Slide 4: Production Metrics: Multi-Phase Open Pit
PRODUCTION METRICS: MULTI-PHASE OPEN PIT High-Grade (Year 1 – 6) Life of Mine (17 Years) Operational Snapshot 1.01% 0.70% Mine Life Throughput 17 years 12,500 tpd Average CuEq Grade Average CuEq Grade Mineralized Material 77.2 Mt Annual Production 64 Mlbs CuEq 90 Mlbs 64 Mlbs Copper 44 Mlbs Cu Annua
Slide 5: Opemiska Location
OPEMISKA LOCATION Ouje-Bougoumou Opemiska Project Chibougamau • Largest copper deposit in Chibougamau: • Ind: 69.6Mt @ 1.12% CuEq (1,720 Mlbs) • Inf: 80.6Mt @ 0.42% CuEq (746 Mlbs) • Second largest copper deposit in Quebec. Opemiska Chapais • One of the highest-grade open pit projects in Canada. • C
Slide 6: Opemiska Re-envisioned
OPEMISKA RE-ENVISIONED Falconbridge Copper: The Past XXIX Metal: The Future High-grade open pit production at 12,500 tpd. Historical underground production at ~2,000 tpd. 753 million lbs of copper production at 0.48% Cu. 1.3 billion lbs of copper produced at 2% Cu. 464 koz of gold production at 0.23
Slide 7: A Phased Approach to Mining
A PHASED APPROACH TO MINING Upfront high-grading to boost payback and IRR. Phase 1 Phase 2 Phase 3 Balance between maximizing Phase 4 economics, minimizing impact. Delays impact on Chapais to end of Phase 3, start of Phase 4. Phase 1: 2034 – 2036 Phase 2: 2034 – 2040 Phase 3: 2038 – 2042 Phase 4: 20
Slide 8: Production Schedule
PRODUCTION SCHEDULE Four grade classifications of mineralized material. High-value material processed upfront. Ultra High Grade (UHG) High Grade (HG) Medium Grade (MG) Low Grade (LG) NSR/t ($) Material Processed (Mt) End of Phase 1 End of Phase 2 End of Phase 3 End of Phase 4 End of Stockpile Proces
Slide 9: Cost Metrics: Operating & Capital Costs
COST METRICS: OPERATING & CAPITAL COSTS LOM Cost Summary ($M) Total Unit Operating Cost: $34.52/t processed Initial Capital1 617.3 Waste & Water Management1 Sustaining Capital 390.9 $0.08 Closure Costs 40.0 G&A, $3.16 Total 1,048.2 Initial Capital Breakdown ($M) Infrastructure 16.2 Electricity and c
Slide 10: Capital Intensity Benchmarking
CAPITAL INTENSITY BENCHMARKING $25,000.0 $20,000.0 CAPEX Intensity (US$/t copper) $15,000.0 $10,000.0 $5,000.0 $0.0 North Island Berg Opemiska McIlvenna Bay Kwanika-Stardust Source: Company Public Disclosure. Note: Opemiska CAPEX net of expected CTM-ITC credits (refer to Slide 8). 10
Slide 11: Profitability Benchmarking
PROFITABILITY BENCHMARKING 2.00 1.80 Profitability Index (NPV/Initial Capital) 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 North Island Opemiska Berg McIlvenna Bay Kwanika-Stardust Source: Company Public Disclosure. Note: Opemiska CAPEX net of expected CTM-ITC credits (refer to Slide 8). Opemiska b
Slide 12: Ore Processing & Metallurgy
ORE PROCESSING & METALLURGY Flotation process producing clean copper concentrate. Metal Recoveries Copper concentrate grade: 20% 92% Gold – 8.5 g/t copper Silver – 40.7 g/t By-Products 80% 80% Proven metallurgy backed by clean historical production. gold silver LOM concentrate offtake remains unallo
Slide 13: Conceptual Opemiska Site Layout
CONCEPTUAL OPEMISKA SITE LAYOUT 13
Slide 14: Tailings & Waste Rock Management Strategy
TAILINGS & WASTE ROCK MANAGEMENT STRATEGY Filtered tailings co-deposited with waste rock significant benefits over conventional tailings facilities, including: 1) No tailings ponds 2) Reduced environmental risks, including dam failure, leaks and seepage 3) Increased quality of future reclamation p
Slide 15: Valuation Benchmarking
VALUATION BENCHMARKING XXIX is currently trading at 0.07x Opemiska’s NPV – significantly undervalued compared to its peer group, on a market cap to NPV basis. + significant resource upside at Thierry – not receiving any value. Company Foran Mining Northwest Copper Northisle Copper XXIX Metal Surge C
Slide 16: Opemiska Will Grow with Cooke
OPEMISKA WILL GROW WITH COOKE Cooke is a former gold-copper mine located 2.5km Cooke mineralization (looking southeast) from Opemiska’s potential open pit. 5 g/t gold – historical mill head grade. Crown pillar still intact – 700m in strike length 6,000m drill program ongoing to evaluate potential fo
Slide 17: Opemiska Next Steps: Moving Towards PFS
OPEMISKA NEXT STEPS: MOVING TOWARDS PFS 1) Complete Cooke zone drill program. 2) Upgrade existing 3D geological model. 3) Commence environmental baseline studies: critical path of mine permitting processes. 4) Commence metallurgical studies: optimize flowsheet design, tailings characterization. 5) C
Slide 18: Opemiska: Central to Chibougamau Consolidation
OPEMISKA: CENTRAL TO CHIBOUGAMAU CONSOLIDATION www.xxix.ca | XXIX:TSXV | QCCUF:OTCQB | 5LW0:FSE 18
Slide 19: Stakeholder Engagement
STAKEHOLDER ENGAGEMENT Open dialogue and consultation between XXIX, the Town of Chapais and First Nations Implementation of local purchasing policies. XXIX Team in Chapais: • Guy Le Bel (CEO) – worked at Falconbridge/Opemiska as a mining engineering student. • Marcelino Jobin (Community Relations) –
Slide 20: Thierry: Ontario's Largest Primary Copper Deposit
THIERRY: ONTARIO’S LARGEST PRIMARY COPPER DEPOSIT Easily accessible via well maintained road. Brownfield environment. Community support. Low projected CAPEX www.xxix.ca | XXIX:TSXV | QCCUF:OTCQB | 5LW0:FSE 20
Slide 21: Thierry K1 – Open Pit Mineralization
THIERRY K1 – OPEN PIT MINERALIZATION K1 Zone: grade x width model (looking south) K1 Zone MRE: Inferred: 53.6 Mt @ .38% Copper 2024 Drill Results confirmed mineralization is open along strike and at depth: • 171m @ 0.527% Cu, 0.134% Ni, 2.36 g/t Ag, 0.059 g/t Pt, 0.177 g/t Pd • Drilled to 400m and o
Slide 22: Thierry K1 – New Interpretation
THIERRY K1 – NEW INTERPRETATION K1 Zone: Section View (A – A’) Surface From sub-parallel tabular zones to bulk mining: • Slight reduction in grade, but Historical Interpretation of • Significant augmentation in tonnage Mineralized Envelopes • Lower mining costs New Interpretation of Mineralized Enve
Slide 23: Next Steps: Connecting K2 with K1
NEXT STEPS: CONNECTING K2 WITH K1 Blue Sky Potential - Geophysical (VTEM) trend between K1 and K2 Geophysical anomalies correlate with THIERRY mineralized zones in K1 and K2 PROPERTY Connecting this zone would be transformative for the Thierry Project K1 450 Mlbs @ 0.38% Cu Drilling Proof of Concept
Slide 24: K1 – K2 Connection: Trend of Geophysical Anomalies
K1 – K2 CONNECTION: TREND OF GEOPHYSICAL ANOMALIES VTEM SURVEY Interpretation & Total Magnetic Field 0m 1500m K1 K2 www.xxix.ca | XXIX:TSXV | QCCUF:OTCQB | 5LW0:FSE 24
Slide 25: Development Timeline: Upcoming Catalysts
DEVELOPMENT TIMELINE: UPCOMING CATALYSTS 2025 2026 Q4 Q1 Q2 Q3 Q4 Opemiska Project Cooke Gold Zone Drilling Environmental Baseline Studies Pre Feasibility Study (PFS) Thierry Project K1 Zone Drill Program K2 Zone Data Validation Corporate Strategic / Cornerstone Investor Ongoing stakeholder engageme
Slide 26: Canadian Open Pit Comparables
CANADIAN OPEN PIT COMPARABLES Opemiska’s copper grade is >2x its peer group average. Opemiska’s gold grade is the highest across its peer group. CuEq Grade (%) Copper /Gold Grades (M&I) of Canadian Open Pit Projects Au Grade (g/t) 1.20% CuEq Grade (%) Gold Grade (g/t) 0.35 1.00% 0.3 0.25 0.80% 0.2 0
Slide 27: Roger Project: XXIX Owns 19.9% of Kintavar
ROGER PROJECT: XXIX OWNS 19.9% OF KINTAVAR Roger Project Location New polymetallic VMS model at 100%-owned Roger Project with significant discovery upside. Peter Cashin, CEO – historically worked on Roger + responsible for taking Roger underground. Well capitalized: $4.2M cash + investments 15 addit
Slide 28: Management & Board
MANAGEMENT & BOARD JOEL FRIEDMAN DENIS MCNICHOLS, géo. STEPHEN STEWART GUY LE BEL CFO V.P. EXPLORATION FOUNDER & CHAIRMAN CEO Over 10 + years' experience in the Geologist with more than 25 years of 20 years of experience in the resource Over 35 years in strategic and financial mine mining industry e
Slide 29: Corporate Overview
CORPORATE OVERVIEW KEY METRICS SHARE PRICE - XXIX TSX Venture Exchange XXIX:TSXV Shares Outstanding ~304.79M Warrants, Options & RSUs 29M Share Price $0.12 Basic Market Capitalization ~$36M Cash + Amounts Receivable $8M $1M - 10.7M Baselode shares (FIND:TSXV) Marketable Securities1 $3.4M – 42.75M Ki
Slide 30: Forward Looking Statements
FORWARD LOOKING STATEMENTS WE ARE IN THE MINERAL EXPLORATION AND DEVELOPMENT BUSINESS. IT IS INHERENTLY RISKY, AND ALL CAUTIONARY STATEMENT REGARDING HISTORICAL RESOURCES INVESTORS SHOULD BE KEENLY AWARE OF THIS The reader is cautioned that XXIX Corp. has not undertaken any independent The reader is
Slide 31: Open Pit Production Schedule
OPEN PIT PRODUCTION SCHEDULE Four distinct phases of mining over a 13-year mine life, stockpiling lower-grade material. Phase 1: Springer & Perry Starter Pits Phase 2: Springer Pushback Phase 3: Perry Pit Depletion Phase 4: Springer Pit Depletion 9.0 8.0 7.0 6.0 Tonnage (Mt) 5.0 4.0 3.0 2.0 1.0 - 10