Element 29 Resources : Factsheet - Q2 2023

Q2 2023

ADVANCING

NEW COPPER

ASSETS IN

PERU

LEADERSHIP

Steve Stakiw, President, CEO & Director

Paul Johnston P.Geo., PhD, VP Exploration

Ricardo Labó, Country Manager, Peru

Duane Lo CPA (CA), CFO

Richard Osmond P.Geo., Chairman

Michael Doggett PhD, Director

Patrick Elliott MSc, MBA, Director

Peter Espig MBA, Director

Element 29 is advancing two new, high-quality copper projects in Peru - Flor de Cobre & Elida - each with excellent potential for resource growth and development.

100% owned projects

Well-mineralized intervals in the latest drill results and additional high-confidence drill targets.

Favourably located in Peru

Lower elevation (<2,700m) with good infrastructure and community support.

Experienced leadership team

Copper-focussed management with experience in Peru.

Tight share structure

Supportive, strong, and diverse shareholder base (insiders, institutional, retail, and private equity).

SHARE STRUCTURE

AS AT JUNE 1, 2023

87.2M	18.9M
Shares Outstanding	Warrants
6.6M	112.7M
Options	Fully Diluted

Shareholders include Globetrotters (12%), Acasta Partners (8%), Resource Capital Funds (7%), and Management & Board (7%).

e29copper.com TSX-V: ECU | OTCQB: EMTRF | BVL: ECU

OUR PROJECTS

ELIDA

A large porphyry copper deposit cluster in central Peru, located at low elevation and close to infrastructure.

In 2022, the Company completed an Initial Mineral Resource Estimate1 outlining an Inferred Mineral Resource of 321.7 million tonnes grading 0.32% copper (for a total of 2.24 billion pounds of contained copper), plus 0.029% molybdenum and 2.6 g/t silver with a low 0.74:1 strip ratio (at 0.20% copper cut-off grade) on the Zone 1 porphyry.

A Phase 2 drill program was undertaken in Q4-2022 to test the expansion potential of the Zone 1 Mineral Resource Estimate and test additional targets.

FLOR DE COBRE

An under-explored porphyry copper deposit within the Southern Peru Copper Belt.

The Flor de Cobre property includes the Candelaria zone, a well-known copper project identified in the 1930's and the site of an historical small-scale mining operation, and the highly prospective Atravesado zone.

ELIDA

P E R U

Lima

At Candelaria in 2022, the Company successfully completed a 4,500 metre, 12-hole drilling program that confirmed data from an historical resource estimate associated with a near-surface supergene enrichment blanket and primary copper sulphide mineralization beneath the enrichment blanket to depths of over 500 metres.

At Atravesado, the Company is advancing permitting for initial drilling of a large porphyry target supported by coincident outcrop geology, surface geochemistry, and geophysical responses. Atravesado is located approximately 1.5 kilometres northwest of Candelaria and is a 1.5 km x 2.5 km elliptical zone characterized by outcropping copper oxide mineralization, strong copper geochemistry, quartz vein stockworks, potassic alteration, and late-mineral porphyry dikes.

Management is aligned with a strong and diverseFLORshareholderDE COBREbase.

Two 100% own d c	roj cts in
Initial Mineral	Estimate complete

Peruat withElidaexcelland underwaynt infrasatructureFlor de Cobre. nearby.

Balanced leadership team with

1 Mineral Resource Estimate information is available in the corresponding technical report entitled "NI 43-101 Technical Report, Mineral Resource Estimation of the Elida Porphyry Copperexploration,Project in Peru" minewith development, an effective date of September 20, 2022 and prepared in accordance with Form 43-101F1 by Marc Jutras, P.Eng., M.A.Sc., Principal, Mineral Resources, Ginto Consulting Inc., a Qualified Person as defined in

National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), who is independent of Element 29 Resources Inc.

and capital market experience.

WHY INVEST

100% owned copper projects in Peru with excellent infrastructure nearby.

Balanced leadership team with exploration, mine development, and capital market experience.

Management is aligned with a strong and diverse shareholder base.

Initial Mineral Resource Estimate completed at Elida.

CONTACT

Steve Stakiw, President & CEO

Disclaimer: This fact sheet contains forward-looking statements and forward-looking information, as defined under applicable Canadian and U.S. securities laws, which are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Known risk factors are described in the Company's most recently filed MD&A which is available on SEDAR at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. The scientific and technical information in this presentation has been reviewed and approved by Paul Johnston, the Vice President of Exploration for the Company and a Qualified Person as that term is defined in National Instrument 43-101. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law.

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