Element 29 raises up to $12,000,000 private placement

All dollar amounts are Canadian, unless otherwise noted. Vancouver, British Columbia--(Newsfile Corp. - July 31, 2026) - Element 29 Resources Inc. (TSXV: ECU) (OTCQB: EMTRF) (BVL: ECU) (" Element 29 " or the " Company ") announces that it intends to complete a non-brokered private placement (the "Financing") of up to 7,272,727 common shares (each a " Share ") of the Company at a price of $1.65 per Share for aggregate gross proceeds to the Company of up to $12,000,000, which is fully committed with participation from strategic investors. Use of Proceeds The net proceeds from the Financing will be used to fund exploration activities across the Company's portfolio of copper projects in Peru, including the flagship Elida, as well as the Flor de Cobre and Paka projects.

Financing Details The Company may compensate certain finders a cash fee equal to 7% of the aggregate gross proceeds raised from subscriptions under the Financing arranged by such finders. The Financing remains subject to final acceptance by the TSX Venture Exchange. All securities issued pursuant to the Financing will be subject to a statutory four-month-and-one-day hold period from the date of issuance.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable U.S. state securities laws, or an exemption from such registration requirements is available. About Element 29 Resources Inc. Element 29 is an emerging junior resource company with a highly experienced management team and board focused on the discovery and advancement of copper projects in Perú, one of the lowest-cost, lowest-risk mining jurisdictions globally.

The Company's flagship project is the Elida Porphyry Cu-Mo-Ag Deposit in west-central Perú which has an initial pit-constrained inferred Mineral Resource Estimate 1 of 321.7 million tonnes grading 0.32% Cu, 0.03% Mo and 2.61 g/t Ag at a 0.2% Cu cutoff grade. Alongside Elida, the Company has three (3) early stage, highly prospective porphyry Cu projects in Perú that include the Flor de Cobre porphyry Cu-Mo prospect situated in the Southern Perú Copper Belt, just 26 km from the Cerro Verde copper mine 2 (Freeport-Buenaventura) as well as the Paka and Pahuay porphyry Cu skarn prospects. All projects are well located for future mine development and will benefit from nearby infrastructure including roads, power infrastructure, ports, water, and a skilled workforce.

On Behalf of the Board of Directors: " Richard Osmond, P.Geo." CEO and Director For media enquiries or more information on this press release, please contact: More information is available at www.e29copper.com . Neither the TSX Venture Exchange (the " TSX-V ") nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this press release. Notes: The Mineral Resource Estimate information is available in "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida Porphyry Copper Project in Perú" dated September 20, 2022, and prepared in accordance with Form 43-101F1 by Marc Jutras, P.Eng., M.A.Sc., Ginto Consulting Inc. Cautionary Note Regarding Forward-Looking Statements This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian securities legislation (collectively, " Forward-looking Statements ").