The Opemiska Project, one of Canada's highest-grade open pitable copper deposits, spans 21,333 hectares in Quebec's Chapais-Chibougamau region, with strong infrastructure and nearby access to the Horne Smelter. An October 2025 Preliminary Economic Assessment outlined a 12,500 tpd open pit operation over a 17-year mine life, generating an after-tax NPV8% of $505M, IRR of 27.2%, and a 2.3-year payback period ($4.35/lb copper price, $3,000/oz gold price, $30/oz silver price). 

Guy Le Bel – President & CEO – With more than 35 years of experience in the mining industry, primarily with copper and gold producers, Guy brings extensive leadership experience, including five years as CEO.

Denis McNichols – VP Exploration Born and raised in Chapais, where he lived for 25 years, Denis leads the geology and exploration team at Opemiska. His deep connection to the area remains — his mother still lives in Chapais.

Marcelino Jobin – Community Relations – A long-time Chapais resident for more than 55 years, Marcelino worked at the original Opemiska mine during its operation. Today, he leads XXIX’s community relations efforts, maintaining trusted relationships throughout the region.

Ahcene Gaoui – Project Geologist – Ahcene has been part of the Opemiska team since 2022. He is responsible for planning and executing exploration activities, bringing a data-driven and field-focused approach to the project.

André Bouchard – Geology Technician –  Also born and raised in Chapais, André has spent his career in the mining industry. He oversees the technical aspects of the Opemiska project, supporting on-site operations and exploration activities.

Charles Beaudry – Director – Charles has been involved with the Opemiska project for more than 20 years and owns a home in Chapais. His long-standing involvement and geological expertise bring invaluable insight to XXIX’s ongoing success.

Who is XXIX?

Formerly known as Quebec Copper and Gold Inc., XXIX Metal Corp. is a Canadian company based in Toronto that specializes in the exploration and development of mining properties, primarily focused on copper.

What is the Opémiska mining project?

The Opémiska project is one of Canada's richest open-pit copper deposits. The mining property covers 21,333 hectares near the municipality of Chapais in northern Quebec. This project reuses the Springer and Perry mines, which were previously operated by Falconbridge. According to currently available data, it is believed to be the deposit with the highest copper content in eastern Canada.

Why is copper mined?

Copper is used in many technological and industrial applications, particularly because of its excellent electrical conductivity.  For this reason, it is found in electrical cables, motors, transformers, electric vehicle charging systems, electronics, solar panels, wind turbines, and batteries. These applications make it an essential ingredient in the energy transition and decarbonization.

What stage of development is the Opémiska mining project at?

The project is in the preliminary planning stage, i.e., the preliminary economic assessment (PEA). If the project goes ahead, construction of a mine could begin around 2031.

The PEA is the first step in evaluating a mining project. It is used to estimate the preliminary technical and economic feasibility of the project. It illustrates one scenario among several possibilities and indicates the elements to be clarified at a later stage. The PEA is not a final decision.

During the prefeasibility study (PFS) phase, which will take place over the next 12 to 18 months, several parameters will be refined, particularly in light of discussions with the residents of Chapais and additional studies.

What is the estimated life of the mine?

The project would evolve in stages over several years. At this stage, the team is talking about a progressive timeline that could span approximately 25 years in total for the entire project. The timelines will be specified based on the progress of the studies and feedback from the public.

Where would the main facilities of the Opémiska mining project be located ?

According to the scenario presented in the preliminary economic assessment (PEA), the plant would be located north of the city, within municipal boundaries. This location is due to the presence of the deposit and will maximize local tax revenues. The preliminary location may be adjusted during the pre-feasibility study (PFS).

How would the waste be managed? 

The current scenario calls for solid, filtered tailings to be deposited in cells and encapsulated north of the city. During the last five years of operation, there are also plans to send some of the tailings to the bottom of a pit.

Where will the waste rock dump be located?

The tailings pond would be located north of the pits, alongside the tailings, at the northern edge of the municipality. We plan to locate it as far away from the city as possible in order to promote coexistence with residents and integrate the project into the community.

How many jobs will the Opémiska mining project create and what are the positive impacts?

According to the EIS, the project could create approximately 450 direct jobs.  Indirect jobs and other economic benefits would also result from activities related to the Opémiska mining project.   Our preliminary data are as follows:

• Creation of approximately 450 well-paid direct jobs
• An initial investment of over $600 million
• $1 billion over the life of the mine
• Annual operating expenses of over $80 million
• Local purchasing and hiring policies
• Incentives to encourage employees to settle here

How will this affect homeowners in the part of town that would be used by the mine?

At this preliminary stage, nothing has been decided. If the project goes ahead, there would be no impact on municipal land until around 2038-2040. XXIX is committed to working with the city and the people concerned to develop clear principles clear principles based on fairness if acquisitions or relocations to a new neighborhood neighborhood prove necessary. The options will be discussed publicly before any decision is made.

What opportunities will there be for citizens to participate?

In addition to the information and discussion meeting on October 21, 2025, and the Café-citoyen on October 22, 2025, XXIX will offer approximately three thematic meetings to the public over the next 12 to 18 months (e.g., development, waste management, mobility) over the next 12 to 18 months to gather their concerns and comments with a view to improving the pre-feasibility study. Each activity will be followed by a short report explaining how the feedback has been taken into account