Element 29 Receives DIA Environmental Certification Advancing New Drilling Permit Application at Elida Porphyry Cu-Mo-Ag Deposit, Perú

Core Viewpoint - Element 29 Resources Inc. has achieved a significant milestone by receiving environmental certification under a Declaración de Impacto Ambiental (DIA) from the Peruvian Ministerio de Energía y Minas (MINEM), which is crucial for the application of a new drilling permit at the Elida Porphyry Copper-Molybdenum-Silver Deposit in Peru [1][2]. Company Developments - The completion of the DIA is a critical step towards obtaining a new Programa de Inicio de Actividades (PIA) drilling permit, which will expand the current drilling footprint and support the advancement of the Elida project [2][4]. - Current drilling operations at Elida are progressing well, with two drill rigs active and five drill holes completed, totaling over 4,600 meters of the planned 7,000-meter diamond drilling program [2]. - The existing PIA drilling permit, which allows for up to 20 drilling platforms, is valid until Q2 2026, while the newly approved DIA allows for up to 40 drilling platforms and is valid for five years [2][4]. Environmental and Community Engagement - The company has executed a new five-year Access Agreement with the host community, which is a requirement for the new PIA drilling permit application [3]. - A Collective Impacts Report is being prepared for submission to the Ministerio de Cultura as part of the Prior Consultation process [3]. Project Overview - The Elida deposit is located in west-central Peru, covering 22,800 hectares and is accessible from Lima [5]. - The project benefits from nearby infrastructure, including a hydroelectric generation facility located 15 km away, and is situated at a moderate elevation of 1,500 to 2,000 meters [6]. Mineral Resource Estimate - Previous drilling has identified significant Cu-Mo-Ag mineralization, with an independent pit-constrained Inferred Mineral Resource Estimate indicating 321.7 million tonnes at grades of 0.32% Cu, 0.029% Mo, and 2.61 g/t Ag [9].