Mr. Elmer Stewart reports

COPPER FOX COMMENCES UPDATED RESOURCE ESTIMATE ON THE VAN DYKE COPPER PROJECT

Copper Fox Metals Inc. and its wholly owned subsidiary, Desert Fox Copper Inc., have provided shareholders an update of activities and analytical results for the Van Dyke in situ leach (ISL) oxide copper project (see news release May 28, 2019).

Highlights:

• Moose Mountain Technical Services (MMTS) has been retained to complete an updated resource estimate for the Van Dyke copper deposit. MMTS completed the preliminary economic assessment of the Van Dyke copper deposit in 2015 and the maiden resource estimate in 2014.
• The four drill holes reported in this news release were previously reported to contain no soluble copper greater than 0.05 per cent.
• DDH-UVD-14 returned an average of 0.445 per cent acid soluble copper (ASCu) over a 79.09-metre core interval including a 6.25 m interval grading 1.008 per cent ASCu. The additional sampling extended the mineralized intervals reported from the phase I sampling program in six drill holes with increases ranging from 11.0 m to 47.2 m.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "The analytical results from the phase II sampling program along with a more robust geological model were the basis for the decision to proceed with an updated resource estimate. The updated estimate will include the drill holes listed in this news release along with five additional drill holes that were excluded from the maiden resource estimate for the Van Dyke copper deposit."

The weighted average acid soluble copper concentrations using a 0.05-per-cent-ASCu cut-off for the last four drill holes from the phase II analytical program reported in this news release are shown below. To compare the weighted average grades for the historical and 2019 analytical results, the analytical results from the historical database were weight averaged over the same interval corresponding to the 2019 interval.

                                                       Historical       2019    Historical    Acid soluble 2019/
DDH ID   From (m)   To (m)   Int. (m)   2019 TCu (%)       TCu (%)   ASCu (%)      ASCu (%)       historical (%)

OXY-21    457.81   498.35      40.54          0.397         0.412      0.121         0.025                  484
UVD-14    521.06   600.15      79.09          0.425         0.264      0.445            NR
OXY-29    381.00   416.97      35.97          0.227         0.226      0.080         0.020                  400
VD-10     312.72   395.63      82.91          0.468         0.492      0.149         0.016                  931

TCu: total copper; ASCu: acid soluble copper, NR: reported no ASCu over 0.05 per cent.

The mineralized intervals do not represent true widths.

The attached table compares the thickness of the 2019 mineralized intervals based on 0.05-per-cent-ASCu cut-off to the reported historical mineralized intervals for the four holes reported in this news release.

                             2019 results                 Historical results                                      
DDH ID   From (m)    To (m)   Interval (m)   From (m)   To (m)   Interval (m)   Thickness (m) 2019 minus historical

OXY-21    457.81    498.35          40.54         NR       NR           0.00                                  40.54
UVD-14    521.06    600.15          79.09         NR       NR           0.00                                  79.09
OXY-29    381.00    416.97          35.97         NR       NR           0.00                                  35.97
VD-10     312.75    395.63          82.88         NR       NR           0.00                                  82.88

NR: reported no ASCu over 0.05 per cent.

The mineralized intervals do not represent true widths.

The weighted average grades for the mineralized intervals were estimated using a 0.05-per-cent-ASCu cut-off; in line with the cut-off grade used in the maiden resource estimate for the Van Dyke copper project completed in 2014. A maximum interval of three metres grading less than 0.05 per cent ASCu within the mineralized interval was tolerated when estimating the weighted average. The phase II sampling extended the mineralized intervals reported from the phase I sampling in the follow drill holes. Restated weighed average grades and mineralized intervals are reported in the attached table.

                                        Phase I reported                                   Phase II results
           From                Int.      2019       2019      From                Int.      2019       2019
DDHID        (m)    To (m)       (m)   TCu (%)   ASCu (%)       (m)    To (m)       (m)   TCu (%)   ASCu (%)

OXY-3    594.17    615.77     21.60     0.264      0.213    594.17    628.19     34.02     0.277      0.140    
OXY-7    396.24    527.17    130.93     0.575      0.489    396.24    547.23    150.99     0.469      0.429    
OXY-11   309.37    368.20     58.83     0.246      0.122    309.37    379.17     69.80     0.348      0.162    
OXY-22   403.57    499.57     96.00     0.150      0.108    403.57    546.80    143.23     0.135      0.093    
OXY-28   403.25    446.25     43.00     0.263      0.222    403.25    476.40     73.15     0.207      0.149    
VD-1     555.04    580.34     25.30     0.689      0.678    555.04    592.53     37.49     0.571      0.331    

TCu: total copper, ASCu: acid soluble copper.

The mineralized intervals do not represent true widths.

* Partial results reported in 2014.

Analytical procedures

Sample preparation and analytical work was completed by Skyline Assayers & Laboratories located in Tucson, Ariz. Skyline's package codes CuT, CuSeq and CuCn were used to determine total copper, sequential copper and cyanide soluble copper. Sequential copper analysis uses a 0.25-gram sample digested (at room temperature) in 5 per cent sulphuric acid and the solution is then diluted to 100 millilitres with deionized water. The residue from the sample is digested in 10 per cent sodium cyanide solution and diluted to 100 millilitres. Atomic absorption spectrometry (AAS) was used to determine copper concentrations. Skyline has an ISO/IEC 17025/2005 accreditation.

Quality control

A total of 15 blanks and certified reference standards were inserted (insertion rate 1:12) with the samples for which analyses are being reported. The Skyline results for the blank and standards were within plus and/or minus 5 per cent of accepted value for the blank and standards.

Elmer B. Stewart, MSc, PGeol, president and chief executive officer 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.

About Copper Fox Metals Inc.

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange, focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States 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.

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