Mr. Richard Osmond reports

ELEMENT 29 APPOINTS VICE PRESIDENT, INVESTOR RELATIONS AND MARKETING

Element 29 Resources Inc. has appointed Dylan Berg as vice-president, investor relations and marketing, effective immediately.

Richard Osmond, president and chief executive officer, stated: "We are pleased to welcome Dylan to Element 29 as vice-president, investor relations and marketing. He brings a strong track record of engaging capital markets and communicating compelling growth strategies to investors. As we continue to advance our Peruvian copper portfolio, including our flagship Elida porphyry copper deposit, Dylan's expertise will strengthen our investor outreach and enhance our visibility within the global mining investment community."

About the appointment

Mr. Berg has over 14 years of capital markets experience within the junior resource sector. He is knowledgeable in corporate development, investor relations, financing and marketing and previously led investor relations at Northern Empire Resources Corp., an exploration company that was acquired by Coeur Mining Inc. for $117-million in October, 2018.

Mr. Berg's senior experience includes serving as vice-president of investor relations as well as chief executive officer of an investor marketing company and as an investment associate at Canaccord Genuity Group Inc.

In his role with Element 29, Mr. Berg will be responsible for:

• Leading the company's investor relations strategy and communications;
• Expanding engagement with institutional investors and research analysts;
• Enhancing marketing initiatives and corporate visibility;
• Supporting capital markets activities and corporate development initiatives.

Compensation and incentives

Subject TSX Venture Exchange approval in connection with the appointment, the company has entered into a consulting agreement with Mr. Berg that includes fees of $10,000 per month for the initial three months and $12,000 per month thereafter and includes performance-based incentives consistent with industry standards.

The company has granted one million stock options to Mr. Berg pursuant to the company's stock option plan. The options are exercisable at a price of $1.35 per common share for a period of five years and vesting quarterly over two years.

About Element 29 Resources Inc.

Element 29 is an emerging junior resource company with a highly experienced management team and board focused on exploring and potentially developing copper deposits in Peru, one of the world's most established mining jurisdictions.

The company's principal asset is its Elida porphyry copper-molybdenum-silver deposit in west-central Peru, which hosts an initial pit-constrained inferred mineral resource estimate of 321.7 million tonnes grading 0.32 per cent copper, 0.03 per cent molybdenum and 2.61 grams per tonne silver at a 0.2-per-cent copper cut-off grade, with a low 0.74:1 strip ratio.

In addition to Elida, the company holds a portfolio of early-stage, highly prospective copper projects in Peru, including the Flor de Cobre project in the Southern Peru copper belt and the Paka and Pahuay porphyry copper-skarn prospects, comprising more than 27,000 hectares of titled concessions.

All projects are well located with access to key infrastructure, including roads, power, ports, water and a skilled work force.

Note: The mineral resource estimate information is available in "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida Porphyry Copper Project in Peru," dated Sept. 20, 2022, and prepared in accordance with Form 43-101F1 by Marc Jutras, PEng, MASc, Ginto Consulting Inc.

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