Mr. Richard Osmond reports

ELEMENT 29 UPGRADES TO OTCQX BEST MARKET

Element 29 Resources Inc. has qualified to upgrade from the OTCQB Venture Market to the OTCQX Best Market, operated by OTC Markets Group Inc.

Richard Osmond, Element 29 president and chief executive officer, stated: "Upgrading to the OTCQX Best Market is an important step in expanding access to the common shares of Element 29 as we continue to advance our flagship Elida project and the rest of our portfolio of exploration properties in Peru."

The OTCQX market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Mr. Osmond (PGeo), Element 29's president and chief executive officer, who is the qualified person as defined by National Instrument 43-101 (Standards for Disclosure for Mineral Projects).

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 Peru, one of the lowest-cost, lowest-risk mining jurisdictions globally. The company's flagship project is the Elida porphyry copper-molybdenum-silver deposit in west-central Peru, which has an initial pit-constrained inferred mineral resource estimate of 321.7 million tonnes grading 0.32 per cent copper, 0.03 per cent molybdenum and 2.61 grams per tonne silver at a 0.2-per-cent copper cut-off grade. Alongside Elida, the company has three early-stage, highly prospective porphyry Cu projects in Peru that include the Flor de Cobre porphyry Cu-Mo prospect situated in the southern Peru copper belt, just 26 kilometres from the Cerro Verde copper mine (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 work force.

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