Vancouver, British Columbia — January 6, 2026 — Leads & Copy — Element 29 Resources Inc. has received environmental certification under a Declaración de Impacto Ambiental (“DIA”) from the Perúvian Ministerio de Energía y Minas (“MINEM”). This marks a significant milestone in the Company’s application for a new Programa de Inicio de Actividades (“PIA”) drilling permit at its Elida Porphyry Copper (“Cu”) – Molybdenum (“Mo”) – Silver (“Ag”) Deposit (“Elida”) in central Perú.
Richard Osmond, President and CEO of Element 29, said the DIA represents an important step toward securing a new PIA. This would significantly expand the current permitted drilling footprint and support continued advancement of the Company’s flagship Elida project in Perú, within a strong market environment for copper, molybdenum, and silver.
Drilling at Elida continues to progress well with two drill rigs currently operating. The company has completed five drill holes totaling more than 4,600 metres of the planned 7,000-metre diamond drilling program; assay results are pending. Current drilling is being conducted under the existing PIA drilling permit, which remains valid through Q2 2026.
Element 29’s current PIA drilling permit was approved under a Ficha Técnica Ambiental (“FTA”) environmental certification, authorizing up to 20 drilling platforms, and is scheduled to expire in Q2 2026. The newly approved DIA, which is valid for up to five years, provides a comprehensive review of potential environmental impacts associated with exploration activities and outlines appropriate mitigation measures for up to 40 drilling platforms.
This approval represents an important advancement toward securing a replacement PIA, which would allow the Company to continue exploration beyond the current pit-constrained Mineral Resource Estimate and further evaluate the larger hydrothermal alteration footprint of the Elida porphyry Cu-Mo-Ag system.
As part of the requirements for the new PIA drilling permit application, the Company also executed a new five-year Access Agreement with the host community on April 30, 2025. The company is in the process of completing a Collective Impacts Report (Informe de Impactos Colectivos) for submission to the Ministerio de Cultura as part of the Prior Consultation (Consulta Previa) process. The DIA environmental certification, together with the execution of the Access Agreement, represents key milestones for Elida, as they satisfy critical requirements of the new PIA drilling permit application.
The Elida porphyry Cu-Mo-Ag deposit occurs along the east side of a large block of 32 contiguous concessions totaling 22,800 hectares that are 100% owned by Element 29 Resources Inc. The project is in west-central Perú and is road accessible from Lima along the Pan American Highway, 170 kilometres northwest to Barranca, then inland 75 km along a secondary road with paved and unpaved surfaces.
Elida is well located for future mine development and will benefit from nearby infrastructure and a skilled workforce. The project is situated at a moderate elevation between 1,500 m and 2,000 m with access to transportation routes to coastal shipping ports and power infrastructure, including a 45 mega-watt hydroelectric generation facility situated just 15 km from the Property.
The Elida porphyry complex is a Cu-Mo-Ag mineralized multiphase porphyry system with a 2.5 x 2.5 km hydrothermal alteration footprint at surface, associated with Eocene-aged quartz monzonite stocks, emplaced into the Cretaceous volcano-sedimentary sequence and a granodiorite member of the Peruvian Coastal Batholith. Elida is one of the first Eocene-age mineralized porphyry systems discovered in Perú.
Previous drilling by Element 29 intersected multiple, long intervals of porphyry Cu-Mo-Ag mineralization which has been traced to a depth of greater than 1000 m where it remains open. Most of the Cu-Mo mineralization is carried in A-veins, B-veins and C-veins that were formed during the waning stages of potassic alteration, with a significant secondary amount of Cu mineralization carried in retrograde alteration from a later chlorite-epidote overprint.
The Company has completed 40 drill holes for a total of 23,223.55 metres of diamond drilling at Elida. Based on just 14,361.4 m of drilling, Element 29 completed an independent pit-constrained Inferred Mineral Resource Estimate in late 2022, which outlined 321.7 million tonnes of 0.32% Cu, 0.029% Mo and 2.61 g/t Ag at a 0.2% Cu cut-off grade and a 0.74:1 strip ratio.
Richard Osmond, P.Geo., is Element 29’s President and CEO.
For more information, contact Richard Osmond at 1-888-246-7881 or info@e29copper.com
Source: Element 29 Resources Inc.
