Mr. Elmer Stewart reports

COPPER FOX ANNOUNCES 2019 SECOND QUARTER OPERATING AND FINANCIAL RESULTS

Copper Fox Metals Inc.'s unaudited interim consolidated April 30, 2019, financial statements have been filed on SEDAR.

All of the company's material subsidiaries are wholly owned, except for District Copper Corp., of which the company owns 24.4 per cent of the common shares outstanding.

For the six months ended April 30, 2019, Copper Fox had a net loss of $5,168,589 (April 30, 2018 -- $705,682) which equated to a one-cent loss per share (April 30, 2018 -- nil loss per share). The net loss increased in Q2 2019 compared with Q2 2018 due to the impairment of the Eaglehead property.

During the six months ended April 30, 2019, the company incurred $240,917 in expenditures toward furthering the development of its Schaft Creek, Van Dyke, Sombrero Butte and Mineral Mountain copper projects. Copies of the financial statements, notes, and related management discussion and analysis may be obtained on SEDAR, the company's website or by contacting the company directly. All references to planned activities and technical information contained in this news release have been previously announced by way of news releases.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "We are confident that the multidisciplinary team assigned by the Schaft Creek joint venture to further evaluate the identified improvement options will be successful in further defining a sound economic, technical and environmental base case project configuration for the next study phase. The progress at Van Dyke is encouraging and setting the groundwork for the possibility of completing an updated resource estimate for the project."

Q2 2019 highlights:

• The 2018-2019 sizing and infrastructure alternatives study to reduce project capital and operating costs was completed, and the Schaft Creek joint venture selected the 133-kilo-tonne-per-annum case scenario for further study in the remainder of 2019.
• The 2019 study will confirm the technical engineering and economics of the identified engineering-improvement options, and the associated 133 ktpa mine plan design.
• A review of permitting and environmental requirements for the newly identified engineering improvements, together with continued engagement with the Tahltan Nation, will commence in Q3 2019.
• In addition to the planned fieldwork to reinforce the project infrastructure's flood protection, a review of the site characteristics for the identified engineering improvement options (e.g. tailings storage, conveyance systems, ore and waste rock transport options, and mill location) will be completed in 2019.
• At Van Dyke, the analytical program (2,760 samples) returned an average 29-per-cent higher acid-soluble copper concentrations over significantly thicker intervals than shown in the historical database for the project.
• Copper Fox closed a non-brokered private placement, raising aggregate gross proceeds of $1,339,140 through the sale of 12,174,000 units at a price of 11 cents per unit. Ernesto Echavarria, a director, insider and a control person of the company (as defined by the policies of the TSX Venture Exchange), purchased 8,182,000 units.
• Application to obtain approval from state authorities to conduct a work program on the Sombrero Butte project has been submitted.
• The TSX-V has accepted the applications to extend warrants issued on June 30, 2016, and July 27, 2017, for a further one-year term extending their respective expiry dates to June 30, 2020, and July 27, 2020. The June 9, 2016, warrants expired on June 9, 2019.

Mr. Stewart, MSc, PGeol, president of Copper Fox, is the company's non-independent, nominated qualified person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.

                                                  SELECTED FINANCIAL RESULTS
                                          
                                       Three months ended  Three months ended  Three months ended  Three months ended
                                           April 30, 2019       Jan. 31, 2019       Oct. 31, 2018       July 31, 2018
Loss before taxes                         $    10,357,166   $         192,708   $         256,899     $       620,441
Net (gain)/loss                                10,357,166             192,708             (8,001)             620,441
Comprehensive loss                             10,115,668             176,208             226,205             456,739
Comprehensive loss per share,                        0.02                0.00                0.00                0.00
basic and diluted
                                       Three months ended  Three months ended  Three months ended  Three months ended
                                           April 30, 2018       Jan. 31, 2018       Oct. 31, 2017       July 31, 2017
Loss before taxes                         $       541,914   $         213,774   $         400,188     $       395,888
Net loss                                          541,914             213,774             144,910             395,888
Comprehensive (gain)/loss                        (47,768)             787,900           (322,819)           1,637,337
Comprehensive (gain)/loss per share,               (0.00)                0.00              (0.00)                0.00
basic and diluted

Liquidity

As at April 30, 2019, the company's cash position was $1,297,843 (Oct. 31, 2018 -- $938,311).

About Copper Fox Metals Inc.

Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and U.S. subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25-per-cent interest in the Schaft Creek joint venture with Teck Resources Ltd. on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100-per-cent ownership of the Van Dyke oxide-copper project located in Miami, Ariz.

We seek Safe Harbor.