01:13 PM EDT, 06/04/2025 (MT Newswires) -- Element 29 Resources ( EMTRF ) on Wednesday signed a renewed five-year surface-access agreement with the host community at its flagship Elida Porphyry Copper-Molybdenum-Silver (Cu-Mo-Ag) project in central Peru.

This agreement, which runs to the end of April, 2030, secures long-term access to support both current and future exploration activities. Element 29 Resources ( EMTRF ) said this agreement was a "key requirement" for its recent application for a new drill permit under an expanded and more comprehensive Declaracion de Impacto Ambiental (DIA) environmental approval.

The company intends to use the magnetotelluric data to help delineate deeper, higher-grade Cu-Mo-Ag mineralization and to guide exploration of the broader hydrothermal alteration footprint of the Elida deposit below 500m. It also intends to employ community members to assist with the continuation of the Elida Phase-III drilling program under the existing Ficha Tecnica Ambiental (FTA) environmental approval and drill permit.

Element 29 added that it is preparing a Collective Impacts Report to support its request for exemption from the Consulta Previa process, which is required as part of the new drill permit application under the DIA environmental approval.

The company's shares were last seen up $0.01 to $0.53 on the TSX Venture Exchange.

Price: 0.53, Change: +0.01, Percent Change: +1.92