Mr. Elmer Stewart reports

COPPER FOX ANNOUNCES EXERCISE OF ALL WARRANTS BY CONTROLLING SHAREHOLDER

Copper Fox Metals Inc.'s controlling shareholder, Ernesto Echavarria, has exercised a total of 21,666,667 common share purchase warrants of the company, representing all the warrants held by Mr. Echavarria. As a result of the exercise of the warrants, together with prior acquisitions, Mr. Echavarria now holds an aggregate of 312,242,855 common shares of the company, representing approximately 56.95 per cent of the issued and outstanding shares, an increase from approximately 55.23 per cent prior to the exercise of the warrants.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "Copper Fox is pleased to have the continued support of its major shareholder. The funds made available pursuant to the warrant exercise are being used to advance Copper Fox's 2023 activities on its advanced and exploration-stage copper projects located in Arizona, USA and British Columbia, Canada."

As disclosed in the early warning report accompanying this news release, an aggregate of $1.95-million was paid to exercise the 21,666,667 warrants at an exercise price of nine cents per warrant, and Mr. Echavarria acquired these shares for investment purposes, and may, in the future, acquire or dispose of securities of the company, through the market, privately or otherwise, as circumstances or market conditions warrant. A copy of the early warning report filed by Mr. Echavarria is available under the company's profile on SEDAR or by contacting the company.

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 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 the 100-per-cent ownership of the Van Dyke oxide copper project located in Miami, Ariz.

We seek Safe Harbor.