Element 29 Copper drill results expand Elida project potential

0:00I am here at the OTC Markets booth at PDAC 2026. I'm with Richard Osmond, the CEO of Element 29 Resources. Richard, it's great to have you with us. Thank you. Alice, the show going for you so far. Going very well. Very busy schedule, obviously, and it's probably one of the largest, zip-packed, the largest show. Exactly. What do you, what do you kind of see that you're getting from investors? What kind of buzzer are you feeling as far as, you know, copper projects, specifically in Paris? Yeah, well, certainly copper. Everybody seems to be talking about it. It's going to be the commodities. It's going to do the best in 2026 of all the other commodities. And people are really starting to understand Peru a lot more. And they know that if, you know, in a jurisdiction like that, it's the second largest copper producer in the world. It has all these investment treaties and free trade agreements in place, which is very rare, you know, for most jurisdictions. I think it's only Chilean Peru

1:02that have both a free trade agreement and a bit in South America. So most major mining companies are midterms that are interested in copper or actively exploring and developing their mining. Yeah. So, you know, it's a zero-six more people on work. If you have community support, you can actually get permitted to explore it. Well, look, it's interesting because obviously Peru is known as a large copper producer, but we're also here to talk about exploration, and there's a lot of exploration outside, specifically at Alita, which is your flagship project. You're drilling now. Talk to us about what you're seeing at the drill bit and how that's informing the potential project. You know, we started a 7,000-meter drill program back in September last year, where you said money to do that. And we finished up about 4,300 by the end of the year. So we're completing the rest of that program, roughly 2,500 meters of drilling. And we put in some results in January, January 26, probably the best hole I've ever drilled. You know, we had the hole went to 1,500-2 meters depth. Then we had to shut the grid down in high-grade mineralization,

2:08copper mineralization at that level. We would probably continue drilling. We had like 1,400-89 meters of continuous mineralization that ran 0.5-8 copper equivalent graded, you know. And so the hole was mineralized from top to bottom. Within that, we had like 1,152 meters of over a percent copper for 0.76 copper equivalent graded. And the hole ended in 93.8 meters of 0.87 copper equivalent graded. So that's really exciting. We're trying to use the drill itself to infill with inside the pit, because you've put it at a really early stage resource model. If we're resource model back in late 2022. And we've been just actively infilling to increase confidence and increase the grade with the graph, just allowing the holes to run. So we're down like over 1,500 meters out. Fantastic. Fantastic. And is all the crew clearly is that in preparation for end-up coming

3:10resource us to hit? Yeah. So we're sort of hoping to get to a point where we like water target is really, is to try and double the open pitiful resources and try to look to see if we can build out something underground as well. So we did a really large-scale Magneto-Torrick's Geophysical Survey on the property back in June of last year. And MT has been used a lot to look for these deeper porphyry targets. And we outlined this really large low-reserved target that correlates really well with the deeper part of the mineralization we hit in hole 37. And so we're going to continue to try and expand that potential of that target and hopefully find the deeper resource that will tie in. And you know, like we really like to get this project to over a billion tons of resources just on that one target alone. And we still have like three other targets that we haven't tested further to the north that showed up really well in the MT data set.

4:13Yep. Well look, I mean, as we said, you're in the right air. I know for it. So we'll start like keeping eyes on those drill results done. So I'm pretty sure to suddenly have you speaking with that student. Thank you. I really appreciate it. You're proactive by