Mr. Elmer Stewart reports

COPPER FOX TO COMPLETE AIRBORNE MAGNETIC SURVEY ON SOMBRERO BUTTE PROJECT

Copper Fox Metals Inc. and its wholly owned subsidiary, Desert Fox Copper Inc., have provided an update of compilation work and exploration plans for the company's 100-per-cent-owned Sombrero Butte porphyry copper project located approximately 70 kilometres northeast of Tucson, Ariz.

The Sombrero Butte property is located approximately three kilometres south of the Copper Creek porphyry copper deposit. Copper Creek is in the north-northwest structural trend that hosts the Ray, San Manuel and Bisbee porphyry copper deposits in Arizona. This deposit is hosted in the Copper Creek granodiorite and is characterized by an abundance of mineralized breccia pipes exposed in outcrop overlying the porphyry deposit. These breccia pipes are a significant geological feature of this and other porphyry copper deposits and mines throughout Arizona.

Highlights:

• A 150-line-kilometre drone-based magnetometer survey is planned to outline the magnetic signatures over two large porphyry copper targets hosted in the Laramide-age Copper Creek granodiorite.
• The magnetic survey should further define and constrain the distribution of alteration patterns and structures within the two targets.
• The results from diamond drill hole SB-03, completed in 2008, suggest proximity to a mineralized chargeability body within target No. 1; the magnetic survey could better define this target.
• The porphyry targets exhibit swarms of mineralized breccia pipes, alteration patterns, mineralized structures and chargeability signatures typical of a porphyry copper system.
• The geochemical mapping, pathfinder elements and alteration indicator minerals also support the presence of one or more cupolas of buried porphyry systems.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "The magnetic survey is expected to better define the geometry, structural control and alteration patterns associated with both targets. The work to date continues to update the geological model, identify significant structural control, and constrains the distribution of the mineralization and alteration patterns in both targets. The objective of the magnetic survey is to confirm the current interpretation; and, based on size and location, target No. 2 would be the priority target to establish drill locations for the next phase of exploration."

Rationale for magnetic survey exploration model

The Sombrero Butte project covers the southern portion of the Copper Creek granodiorite intrusive. Historical surface exploration and diamond drilling (2006 to 2008), combined with the chargeability/resistivity survey completed by Copper Fox in 2015, have identified two large Laramide-age porphyry copper exploration targets based on the Copper Creek deposit exploration model.

Target No. 1 covers the area of historical mining activities and is characterized by a swarm of mineralized breccia pipes in potassic and phyllic altered Copper Creek granodiorite overlying a 500-metre-by-500-metre chargeability body at a depth of 400 metres below surface. Historical deep drilling in this area focused on the mineralized breccia pipes.

The deepest zone of porphyry-style mineralization within target No. 1 was encountered in DDH SB-03, collared approximately 200 metres south of the identified chargeability body. This drill hole intersected a mineralized breccia pipe from 466 metres to 492 metres that returned a weighted average grade of 1.19 per cent copper, 0.013 per cent molybdenum, 0.08 gram per tonne gold and 4.83 grams per tonne silver.

The Copper Creek granodiorite below the mineralized breccia pipe from 500 metres to 610 metres contains stockwork-style veins of quartz plus potassium feldspar plus chalcopyrite; and, from 610 metres to 645 metres, the quartz-plus-potassium-feldspar veins continue as thin, hairline veinlets containing minor chalcopyrite. The mineralized veins and veinlets in the Copper Creek granodiorite are associated with pervasive potassium-feldspar flooding and, locally, with selvages of advanced argillic and phyllic alteration. The data suggest that DDH SB-03 intersected the outer edge of a mineralized porphyry system.

Target No. 2 is a near-surface 2,000-metre-long chargeability body characterized by copper-molybdenum mineralization in steep- and shallow-dipping veins and veinlets, mineralized breccia pipes, and extensive goethite veining (after pyrite) in Copper Creek granodiorite and Glory Hole volcanics displaying potassic, phyllic and advanced argillic alteration. The distribution of the mineralization, alteration and geometry of the chargeability body suggests a significant structural component present in target No. 2.

The geometry and distribution of the chargeability component of the chargeability/resistivity signature suggest the potassic core (low chargeability (less than 10 milliradians)/high resistivity) of a porphyry system transitioning outward to a broad zone of moderate-chargeability (10 to 30 milliradians) phyllic alteration zone and then to a wide zone of high chargeability (greater than 30 milliradians), interpreted to be a pyritic shell commonly observed in porphyry copper systems. The compositional variations of the late-stage intrusive dikes within this target are interpreted to represent the cupola of the porphyry system.

Copper Fox has submitted its geological field operations plan (GFOP) with the Arizona State Land Department to conduct the magnetometer survey. The survey is expected to commence in September, subject to receipt of approval of the GFOP.

Survey parameters

The drone/magnetic system consists of a GEM Systems GSMP-35UC UAV potassium magnetometer on board a battery-operated DJI Matrice 600 Pro Hexacopter. GPS (global positioning system) positions and total field intensity data are recorded continuously at 10 hertz, which provides a sampling interval of approximately 0.5-metre data points along flight lines. Flight altitude will be set at 85 metres above ground level. A second magnetometer will record continuously at a fixed ground location to allow for diurnal corrections.

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 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.

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