Toronto, Ontario — February 18, 2026 — Leads & Copy — XXIX Metal Corp. (TSXV: XXIX) (OTCQB: QCCUF) (FSE: 5LW0) has updated its 2026 exploration plans following a recently completed $17.2 million financing. The company is fully funded through 2026, possessing over $20 million in cash and $24 million in working capital, allowing it to accelerate exploration at the Opemiska project and launch a large-scale drill program at the Thierry project.
CEO Guy Le Bel stated that the financing enables an aggressive exploration plan in 2026, with multiple catalysts at both the Opemiska copper project in Quebec and the Thierry project in Ontario. He noted that the company is well-funded as it advances Opemiska toward a preliminary feasibility study and starts a large-scale drill program at Thierry, the first in over fifty years.
Opemiska 2026 Development and Drilling Plans
The company is conducting a 10,000-meter drill program at the Cooke Gold Zone, located 2.5km east of the envisioned Opemiska pit. Cooke historically produced 1.97Mt at 5.04 g/t gold and 0.66% copper. XXIX is continuing its expanded drill program at Cooke, based on earlier results that confirmed a more extensive mineralized horizon than initially modeled. The expanded drill program is targeting both the near-surface crown pillar of the historical Cooke Gold Mine and step-outs along a newly identified mineralized horizon. This drill program is designed to further supplement XXIX’s recently announced PEA and will strengthen project scale as the Company will seek to add to Opemiska’s MRE, that will flow into the preliminary feasibility study (“PFS”).
XXIX expects to receive results from the initial 29 holes drilled in Fall 2025 in the coming weeks.
A follow-up in-fill drill program is planned for the Saddle Zone in Q3 2026, aiming to enhance existing resources and optimize geometry and engineering. The Saddle Zone, located between the envisioned Springer and Perry pits, will allow for a deeper pit, increased resources, and a reduced strip ratio. The company will also drill test the perimeter of the current proposed open pit to identify lower-grade, fringe mineralization.
In Q2 2026, XXIX plans to refine the digitized historical stopes from the Springer and Perry mines within the Opemiska 3D resource model, increasing grade and tonnage certainty. This refinement will assist in upgrading the existing inferred mineral resource classification into the measured and indicated category without additional drilling.
The company aims to initiate an updated mineral resource estimate in Q4 2026, which will be the basis for the upcoming preliminary feasibility study. This estimate will incorporate drilling from the Cooke and Saddle zones, along with a refined 3D resource model.
Thierry 2026 Exploration Plan
Based on a new bulk-tonnage, copper-PGE near surface interpretation of the K1 deposit, XXIX is planning a 20,000-metre drill program to test and validate grade, scale and continuity. This program will be the first systematic and large-scale drill program on the Thierry property in over fifty years and is the first step towards producing an updated MRE at the K1 Zone. At its present scale, K1’s dimensions are 1.4km length x 250m width x 400m depth.
Data validation and reinterpretation at the K2 zone is expected to be completed soon, further to the Company’s January 16, 2026 news release. The K1 and K2 zones, together, represent over 210,000 metres of historical drilling, with K2 having an extensive geological and geophysical database.
The company determined that significant mineralization exists between the previously interpreted mineralized veins at K1. Data indicates that grade increases with depth at K1, outlining additional mineralization potential at below the existing resource. Furthermore, K1 remains open in all directions, as evidenced by the Company’s recently completed IP Survey which highlighted compelling targets at K1 and K2, and potential sulphide mineralization along the corridor connecting them. Accordingly the Company will evaluate potential mineralization eastwards and westwards, evaluating mineralization continuity towards K2.
The planned drill program at K1 will form the basis of a high-quality, updated mineral resource estimate.
The Board of Directors has approved the grant of stock options to certain directors, officers, and consultants of the Company, allowing for the acquisition of up to, in the aggregate, 4,400,000 shares of the Company. 3,750,000 stock options were granted to certain directors and officers of the Company. The options are exercisable at a price of CAD $0.13 per share for five (5) years from the date of grant, vest one (1) year from the date of grant and are subject to regulatory policies and approvals.
The technical information contained in this news release has been reviewed and approved by Denis McNichols, P.Geo and géo., Vice President Exploration for XXIX Metal.
XXIX is advancing its Opemiska and Thierry Copper projects. The Opemiska Project spans 21,333 hectares in Quebec’s Chapais-Chibougamau region. An October 2025 Preliminary Economic Assessment outlined a 12,500 tpd open pit operation over a 17-year mine life, generating an after-tax NPV8% of $505M, IRR of 27.2%, and a 2.3-year payback period ($4.35/lb copper price, $3,000/oz gold price, $30/oz silver price). The Thierry Project hosts the K1 (near-surface) and the past-producing K2 (underground & surface) zones. Thierry has significant infrastructure in place.
Source: XXIX Metal Corp.
