Mr. Richard Osmond reports

ELEMENT 29 RESOURCES ANNOUNCES DIRECTOR AND OFFICER CHANGES

The following officers and directors have resigned from Element 29 Resources Inc.: Steve Stakiw as president, chief executive officer and a director of the company; Paul Johnston as vice-president, exploration, of the company; Peter Espig as a director of the company; and Michael Doggett as a director of the company.

Richard Osmond, chairman of the company, will step in as chief executive officer of the company, and Robert Willis (PEng) will be appointed as a director of the company.

Richard Osmond, Element 29 chairman and chief executive officer, remarked: "The company is pleased to welcome Mr. Willis (Bob) to the board. Bob will be a great addition to the team and brings extensive corporate knowledge, as well as mining industry experience to the company, including his past experience operating in Peru."

Mr. Willis is a professional engineer (PEng) who has worked in the mineral resource industry for more than 35 years and currently holds the role of senior adviser for Sun Summit Minerals Corp. Mr. Willis has founded several junior mining companies, including Pioneer Metals Corp., Manhattan Minerals Corp., Geologix Exploration and San Marco Resources Inc. (now Sun Summit Minerals Corp.), where he held a variety of executive roles such as president, director and CEO. Under his leadership, companies have acquired and managed the start-up of several producing mines, including the Stibnite heap leach gold mine (Idaho) and the Moris open-pit heap leach gold property (Mexico), as well as advanced exploration at the Silbak Premier gold and silver property (Golden Triangle, British Columbia) and the Tambo Grande copper-gold volcanogenic massive sulphide deposit (Peru). Mr. Willis graduated in 1973 from the University of British Columbia with a bachelor of science degree in geology.

About Element 29 Resources Inc.

Element 29 is an emerging copper exploration and development company focused on advancing its portfolio of Peruvian projects toward development in one of the world's more established mining jurisdictions.

The company's principal objective is to explore and develop its Elida porphyry copper deposit in west-central Peru and its Flor de Cobre porphyry copper project located in the southern Peru copper belt, 26 kilometres southeast from Freeport-McMoRan's Cerro Verde copper mine. Both projects are well located for potential mine development, and will benefit from nearby infrastructure, including roads, power lines, ports, water and a skilled work force.

We seek Safe Harbor.