EXPLORING NEW COPPER ASSETS IN PERU

Element 29 Resources Inc.

e29copper.com

INVESTOR PRESENTATION
December 2021

TSX-V: ECU
OTCQB: EMTRF
 Disclaimer

www.sedar.com

2 E L E M E NT 2 9
 Why Copper?

Element 29
✓

3 E L E M E NT 2 9
Teck Sponsored Article “Visualizing Copper Demand for Renewables”, November 3rd, 2021
 Why Peru?

Element 29
✓

4 E L E M E NT 2 9
 Introducing 2 key projects in Peru

ELEMENT 29
Experienced leadership team

Tight share structure

Catalyst-driven 2021-2022 work plan

5 E L E M E NT 2 9
 Experienced, Balanced Leadership
EXPERIENCE ACHIEVEMENTS ROLES
Richard Osmond P.Geo 30+ years
Exploration track record of success including President, GlobeTrotters Resource Group.
Chairman & Interim CEO discoveries at Voisey’s Bay and Raglan. Former INCO (VBNC), Falconbridge, Anglo American.

Michael Doggett PhD

Directors

Mineral economist, distinguished lecturer, Founder of El Olivar Imperial (Peruvian mineral processing company), Adjunct
35+ years
Director published author. Professor at Queen’s, consultant, and director of several pubic companies.

Patrick Elliott MSc, MBA 10+ years

Exploration teams working on Zafranal and
President & CEO of Lexore Capital Corp., President & CEO of Forte Minerals.
Director Stibnite in South America & USA.

Peter Espig MBA 15+ years International accounting and financial CEO of Nicola Mining Inc.
Director/Audit Committee Chair management experience. Founder of TriAsia Capital, former Goldman Sachs.

Duane Lo CPA, CA 20+ years

International accounting and financial CFO and Director of various public companies.
Management

CFO management experience. Former CFO of Mason Resources & Luna Gold and Comptroller for First Quantum.

Paul Johnston P.Geo, PhD 30+ years

Exploration and development experience on Chief Geoscientist of GlobeTrotters.
Vice President, Exploration porphyry copper deposits in South America. Former Regional Chief Geoscientist for South America at Teck Resources.

Ricardo Labó MSc, LLM, MBA 20+ years

Mineral economist with experience in the private Several senior roles in the Ministry of Energy and Mines, senior positions at Rio
Country Manager, Peru sector and in the Peruvian government Tinto, Roche, Phelps Dodge and Grupo Apoyo.

Bruce Turner, P.Eng International mining experience and expert in open Advisor and former Executive Director of CMZ. President of Minera Escondida,
Advisors

40+ years
pit copper mining. President of AQM Copper.

Regional to deposit scale exploration in South

Manuel Montoya 35+ years America.
VP Exploration of GlobeTrotters, former Chief Geologist of Cominco-Peru, Andean
exploration leader for Teck Resources.
Discovery of Zafranal Cu-Ag porphyry.

6 E L E M E NT 2 9
 Aligned with Shareholders

66.7M
SHARE STRUCTURE Share Ownership

Resource Capital

3.6M
Funds
5%
GlobeTrotters
17%

9.7M
6% Mgmt &
Other* Board

TSX-V: ECU 80.0M 72%

OTCQB: EMTRF
$3.45M * Retail + Institutional Investors

7 E L E M E NT 2 9
 Our Projects
• Readily accessible.
• Relatively low elevation.
• Social license to operate.

Elida Flor de Cobre

Central Peru Southern Peru

8 E L E M E NT 2 9
 Summary

Elida

100% ownership of the 19,210 ha Promising historical exploration results

• •
• 503 m at 0.42% Cu 265 m at
0.53% Cu

Large 2 x 2 km hydrothermal Strategically well located

alteration system

9 E L E M E NT 2 9
 Location

Elida
•

• Elida
•
✓ Hydroelectric
Station
✓ 45 MW

✓
✓
✓
✓

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 Elida

Porphyry Centres &

Exploration Targets
503 m @
0.42% Cu,
• 0.046% Mo

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 Elida

DRILL PROGRAM
OBJECTIVES
✓ Investigate the vertical continuity and zonation
of Target 1 mineralization.

✓ Improve the confidence in the interpreted

mineralization boundaries.

✓ Achieve a drill hole spacing that is appropriate

for estimating a potential mineral resource for a
portion of Target 1.
View northwest across the Elida Cluster showing the position of the porphyry stock
at the centre of Target 1 (red) and the concentric sleave of mineralization (green).

12 E L E M E NT 2 9
 Elida

DRILL HIGHLIGHTS 265 m @

0.53% Cu

ELID019: 383.8 m of 0.71% CuEq*

0.54% Cu, 0.035% Mo, 4.2 g/t Ag (47 ppm As)
Includes
314.9 m of 0.76% CuEq*
0.60% Cu, 0.033% Mo, 4.7 g/t Ag, (32 ppm As)

ELID020: 308.0 m of 0.56% CuEq*

0.43% Cu, 0.028% Mo, 3.9 g/t Ag (15 ppm As)
Includes
104.0 m of 0.69% CuEq*

260050E
0.54% Cu, 0.031% Mo, 4.6 g/t Ag (12 ppm As)

✓
✓
✓
✓

13 E L E M E NT 2 9
* Copper equivalent grades (CuEq) are for comparative purposes only. Calculations are uncut and recovery is assumed to be 100% as metallurgical data is
insufficient to allow for estimation of metal recoveries. Copper equivalence (CuEq %) is calculated as: CuEq (%) = Cu (%) + [3.55 × Mo (%)] + [0.0095 × Ag (g/t)],
utilizing metal prices of Cu - US$3.34/lb, Mo - US$11.86/lb and Ag - US$21.87/oz. Metal prices are based on a 2-year average of monthly LME metal prices.
 Section 260050 E

Elida

ELID019
383.8 m of 0.71% CuEq*
ELID019, 246.2 m from a sample interval reporting 2.62% Cu,
0.031% Mo, 21.8 g/t Ag, 59 ppm As

0.54% Cu, 0.035% Mo, 4.2 g/t Ag (47 ppm As)

Includes
314.9 m of 0.76% CuEq*
0.60% Cu, 0.033% Mo, 4.7 g/t Ag, (32 ppm As)

Significance
✓ Strong Cu mineralization extends to bedrock ELID019, 241.15 m from a sample interval reporting 0.62% Cu,
0.032% Mo, 4.4 g/t Ag, 4 ppm As

surface.

✓ Mo grades are consistently high (+0.03% Mo).

✓ As is low (<50 ppm).
✓ Open at depth.
ELID019, 245.2 m from a sample interval reporting 1.15%
Cu, 0.032% Mo, 8.5 g/t Ag, 5 ppm As

* Copper equivalent grades (CuEq) are for comparative purposes only.

14 E L E M E NT 2 9 Calculations are uncut and recovery is assumed to be 100% as

metallurgical data is insufficient to allow for estimation of metal
recoveries. Copper equivalence (CuEq %) is calculated as: CuEq (%) =
Cu (%) + [3.55 × Mo (%)] + [0.0095 × Ag (g/t)], utilizing metal prices of
Cu - US$3.34/lb, Mo - US$11.86/lb and Ag - US$21.87/oz. Metal prices
are based on a 2-year average of monthly LME metal prices.
 Summary

Flor de Cobre
1,927 ha - 1,800 ha 100% owned Historical Resource

Excellent location with infrastructure Promising Exploration Results

in place 272 m of 0.92%
116 m of 1.4%
156 m of 0.58%

1 The source of the historical resource estimate is a press release issued by Rio Amarillo Mining Ltd. dated November 15, 1996 (Rio Amarillo Mining
Ltd., November 15th, 1996: Aija Property Drill Results). This historical resource is relevant to Flor de Cobre as it suggests supergene-enriched
mineralization of interest may be present at Candelaria. The parameters, assumptions, and methods used to calculate the historical estimate are

16
unknown. Additionally, the historical estimate does not use resource categories described in CIM Definition Standards for Mineral Resources and
E L E M E NT 2 9 Mineral Reserves (2014). It is also unclear what portion of this historical resource estimate is within the current Flor de Cobre property
configuration. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource, and it is unclear
what work might be required to confirm the resource. For these reasons, the historical resource should not be relied upon. The Company is not
treating the historical estimate as a current mineral resource.
 Location

Flor de Cobre
Flor De Cobre

Cerro Verde Cu-Mo Mine

Operator: Freeport McMoRan

Chapi Copper Mine

Operator: Nexa Resources Peru S.A.

FLOR DE COBRE

17 E L E M E NT 2 9
 1,972 Ha

Atravezado
Large 1.5 x 1.6 km
porphyry target identified
Flor de Cobre TARGETS
• Candelaria
• Atravezado

Drill permits obtained Q4 2021

Drilling expected to start Q1 2022
57.4 Mt @ 0.67% Cu1

116 m of 1.4% Cu2 1 The source of the historical resource estimate is a press release issued by Rio Amarillo Mining Ltd. dated November 15, 1996 (Rio Amarillo
Mining Ltd., November 15th, 1996: Aija Property Drill Results). This historical resource is relevant to Flor de Cobre as it suggests
supergene-enriched mineralization of interest may be present at Candelaria. The parameters, assumptions, and methods used to calculate
156 m of 0.58% Cu2 the historical estimate are unknown. Additionally, the historical estimate does not use resource categories described in CIM Definition
Standards for Mineral Resources and Mineral Reserves (2014). It is also unclear what portion of this historical resource estimate is within
the current Flor de Cobre property configuration. A qualified person has not done sufficient work to classify the historical estimate as a
current mineral resource, and it is unclear what work might be required to confirm the resource. For these reasons, the historical resource
should not be relied upon. The Company is not treating the historical estimate as a current mineral resource.

2 Historical total copper (“CuT”) assay results and drill logs obtained by Element 29 from legacy drilling completed by Rio Amarillo Mining
Ltd. and Phelps Dodge Corporation at Candelaria during the 1990’s were used to calculate copper assay intervals for hole K-008. These
historical assay results and drill logs are relevant to Flor de Cobre as they suggest supergene-enriched copper mineralization of interest
may be present at Candelaria. No assay certificates were obtained for the Rio Amarillo Mining Ltd. assay results. Additionally, none of the
diamond drill core and sample rejects from this drill hole are currently available for geochemical analysis, which prevents a qualified
person from verifying the copper geochemical results provided. For these reasons, the historical copper geochemical assay results from
hole K-008 should not be relied upon.
18 E L E M E NT 2 9
 Flor de Cobre

Cross
Section:
Candelaria

Candelaria
19 E L E M E NT 2 9
 Near-term Activities

Catalyst-driven 2021/22 work plan

Exploration drilling , deliver resource estimates & conduct engineering studies.

2021 2022
Q3 Q4 Q1 Q2 Q3 Q4

Flor de Cobre
Environmental Permit (FTA)
Authorization to begin activities
Resource drilling in historical mining area1
PEA – Estimate of potential resource
PEA – Metallurgical and engineering studies

Elida
Phase 1 Drilling (Target 1)2
1 Rio Amarillo/Phelps Dodge in the 1990s
Release drilling results outlined an historic copper resource of 57.4
million tonnes of 0.67% Cu.
Estimate potential resources 2 The exploration target area at Target 1 of 200
Mt to 500 Mt, with grades of 0.35% - 0.45% Cu,
0.03% - 0.05% Mo and 3.5 g/t - 4.5 g/t Ag, is
Metallurgical studies based on 18 drill holes (9,880 m) completed by
Lundin Mining Peru SAC (Lundin), and the
surficial mapping and detailed interpretations
Phase 2 drill program (Target 1, 2 & 3) by Lundin and GlobeTrotters.

21 E L E M E NT 2 9
 Summary

Why Invest
Projects Location Leadership Share Structure Work Plan

22 E L E M E NT 2 9
Contact
Richard Osmond
Interim CEO & Chairman
1-888-246-7881
info@e29copper.com

Element 29 Resources Inc.

e29copper.com

TSX-V: ECU
OTCQB: EMTRF