Drill Program At The Flor De Cobre Project

VANCOUVER - Steve Stakiw, Element 29 Resources Inc., President and CEO, reported on the 4,000 meter (m), eleven-hole drill program at the Flor de Cobre Copper Project, located in southern Perú. “We are very encouraged by how similar the results of these first two drill holes are to the copper grades in the historical data. The downhole position of mineralized zones in the twinned holes very closely correlate to the historical records. Primary mineralization also extends beyond the depths of the historical holes and enhances the primary sulphide exploration potential below the enrichment zone."

Flor de Cobre Drilling Highlights: Drill hole FDC001 intersected 349.0 m of 0.77% copper ("Cu") including 123.0 m of 1.42% Cu in the enriched sulphide zone followed by 226.0 m of 0.42% Cu in the primary sulphide zone below; Drill hole FDC002 intersected 378.55 m of 0.50% Cu including 130.7 m of 0.90% Cu in an enriched sulphide zone followed by 247.85 m of 0.30% Cu in the primary sulphide zone below; The above holes showed excellent correlation with their respective legacy drill holes. The Cu grades and lengths in the enrichment zone were very similar to the intervals previously reported for the historical holes they twinned; and Mineralization extended past the depths of the historical drill holes and indicate exploration potential for primary Cu sulphide resources below the enrichment zone.

The objectives of the current drill program are to verify the historical resource estimate of 57.4 million tonnes of 0.67% Cu associated with a supergene enrichment blanket formed on the Candelaria porphyry and to explore for primary Cu sulphide mineralization underneath the enrichment blanket to depths of over 500 m.