Element 29 advances Elida copper project with new geophysical survey and corporate updates

Elida is a porphyry copper system in west-central Perú with an initial Inferred Mineral Resource of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo, and 2.61 g/t Ag.

Element 29 Resources (TSXV: ECU | OTCQB: EMTRF | BVL: ECU), a Canadian copper exploration company focused on projects in Perú, has announced key developments at its flagship Elida porphyry copper-molybdenum-silver project, highlighting a large-scale geophysical survey, permitting progress, and leadership changes.

Magnetotelluric survey targets deeper copper mineralization

The company has commenced a high-resolution magnetotelluric (MT) geophysical survey across a 5 km by 6 km area at Elida. This advanced technique, widely used in the Andes, is expected to generate a 3D resistivity model to depths exceeding 2,000 meters. The goal is to identify deeper, high-grade copper-molybdenum-silver mineralization zones ahead of a planned Phase-III drilling program restart in Q3 2025.

“Our team has made substantial progress behind the scenes to ensure Elida continues to move forward,” said Richard Osmond, president and CEO of Element 29. “With the MT survey, advances in permitting, and strengthened community relations, 2025 is shaping up to be a transformative year for Element 29.”

Environmental permitting and community agreements advance

Element 29 recently submitted an updated Declaración de Impacto Ambiental (DIA) to Peru’s Ministry of Energy and Mines, seeking to double the number of authorized drill platforms from 20 to 40. The application is a key step toward securing a long-term drill permit.

Additionally, the company is finalizing a five-year surface access agreement with the host community and has begun preparing documentation to support an exemption from the Prior Consultation (Consulta Previa) process.

Promising early drill results and plans for expansion

Phase-III drilling will resume under current approvals, aiming to expand Elida’s existing pit-constrained Inferred Mineral Resource Estimate. Previous drilling delivered significant intercepts, including 1,039.6 meters grading 0.54% CuEq, with higher-grade sections such as 310.1 meters at 0.71% CuEq.

These results, combined with the forthcoming MT data, are expected to guide the next phase of drill target planning.

CFO transition and marketing initiatives

On the corporate side, Element 29 announced the appointment of Michael Au as chief financial officer, replacing Duane Lo, who has played a pivotal role since the company’s early development. Mr. Au, a CPA with over two decades of experience across the mining, biotech, and finance sectors, will oversee the company's financial strategies moving forward.

The company also launched a one-year marketing agreement with Caesars Report to increase visibility among investors and stakeholders.

About Elida and Element 29 Resources

Elida is a porphyry copper system in west-central Perú with an initial Inferred Mineral Resource of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo, and 2.61 g/t Ag. Element 29 also controls three additional early-stage copper projects across more than 25,000 hectares in Perú, including the Flor de Cobre prospect in the Southern Copper Belt.

With access to strong infrastructure and a supportive jurisdiction, Element 29 continues to position itself as a key player in the future of copper exploration in South America.