Mr. Elmer Stewart reports

COPPER FOX ANNOUNCES WAIVER OF ACCELERATED EXPIRY DATE FOR WARRANTS

Further to the news release dated July 22, 2020, regarding an automatic acceleration of the expiry date for the warrants issued on March 30, 2020, and April 27, 2020, as part of Copper Fox Metals Inc.'s most recent non-brokered private placement, due to the company's projects being fully financed throughout 2020, the company has decided to waive the acceleration of the expiry date. Accordingly, the expiry date shall remain as stated in each applicable warrant certificate.

About Copper Fox Metals Inc.

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.