Mr. Richard Osmond reports

ELEMENT 29 ANNOUNCES ELECTION OF RANDY SMALLWOOD AND GEORGE BRACK TO ITS BOARD OF DIRECTORS

Randy Smallwood and George Brack have been elected to Element 29 Resources Inc.'s board of directors at the company's annual general meeting of shareholders held on Sept. 25, 2026. Mr. Smallwood and Mr. Brack each received 100 per cent of the votes cast on their election, with no votes withheld.

Brad Mercer, chair of the board, said: "We welcome Randy Smallwood and George Brack to the board and look forward to working with them. Their experience in mining, corporate development and finance will complement the expertise of our returning directors. I would also like to thank our shareholders for their support and my fellow returning directors for their continued service to the company."

Mr. Smallwood is the non-executive chair of Wheaton Precious Metals Corp., where he served as chief executive officer from 2011 to 2026. He was involved in Wheaton's founding and growth and previously held senior roles with Wheaton River Minerals Ltd. and Goldcorp.

Mr. Brack is the lead independent director and former chair of Wheaton Precious Metals. He previously chaired Capstone Mining Corp. and brings 35 years of mining industry experience across exploration, corporate development and investment banking, including mergers and acquisitions and equity financing.

Mr. Smallwood and Mr. Brack join the company's seven-member board as independent directors, serving alongside non-executive chair Brad Mercer, independent directors Patrick Elliott, Mary-Carmen Vera and Chet Idziszek, and executive director Richard Osmond.

Annual general meeting results

Shareholders approved all matters presented at the AGM, including setting the number of directors at seven, electing all director nominees, appointing the auditor and approving the company's 10-per-cent rolling stock option plan. The stock option plan received 97.44 per cent of votes in favour. A total of 69,080,645 common shares, representing 36.55 per cent of the company's issued and outstanding common shares as at the record date, were represented at the meeting.

Marketing agreements

Element 29 has entered into an amended agreement with Torrey Hills Capital, effective immediately. Torrey Hills has been retained to increase awareness about the company through its established relationships with investment professionals, investment advisers and money managers in the United States. The original agreement with Torrey Hills commenced on Feb. 7, 2025, the details of which were disclosed in Element 29's press release dated Feb. 10, 2025. Commencing today, Element 29 will pay Torrey Hills a cash fee of $3,000 (U.S.) per month, for an initial term of six months, which will automatically renew in six-month intervals unless otherwise cancelled. In addition to the monthly cash fee, Element 29 has granted Torrey Hills an aggregate of 100,000 stock options exercisable from common shares of the company at a price of $1.79 per share for a period of three years from the date of grant pursuant to the company's stock option plan. In accordance with applicable TSX Venture Exchange policies, the options will vest as follows: (i) 25 per cent on the three-month anniversary of the grant date; (ii) 25 per cent on the six-month anniversary; (iii) 25 per cent on the nine-month anniversary; and (iv) 25 per cent on the 12-month anniversary. To Element 29's knowledge and apart from the aforementioned options, neither Torrey Hills nor its principals has any interest, directly or indirectly, in Element 29 or its securities, or any right or intent to acquire such an interest; however, a consultant engaged with Torrey Hills holds 435,000 common shares.

Element 29 has also entered into an agreement with Mining Stock Education LLC (MSE), effective immediately, for corporate branding and sponsorship on MSE's website, social media channels and certain other communication channels owned by MSE. The term of MSE's engagement is for one year and Element 29 will pay MSE a cash fee of $30,000 (U.S.) due up front and $90,000 (U.S.) due in January, 2027. To Element 29's knowledge, neither MSE nor its principal, William Powers, has any interest, directly or indirectly, in Element 29 or its securities or any right or intent to acquire such an interest.

Both the agreements with Torrey Hills and MSE are subject to approval and acceptance by the TSX-V.

About Element 29 Resources Inc.

Element 29 Resources is a copper exploration company advancing a portfolio of projects in Peru, highlighted by one of the country's most significant recent discoveries. Led by a seasoned and accomplished executive team and board, the company is advancing its flagship Elida porphyry copper-molybdenum-silver deposit through resource expansion, derisking and continued exploration for new discoveries. The portfolio also includes the Flor de Cobre, Paka and Pahuay projects. All are located at low elevations near established infrastructure that supports exploration and potential future development. Element 29 applies a disciplined, geology-led approach to resource growth and discovery.

We seek Safe Harbor.