Mr. Elmer Stewart reports

COPPER FOX PROVIDES UPDATE ON SOMBRERO BUTTE COPPER PROJECT

Copper Fox Metals Inc. and its 100-per-cent-owned subsidiary, Desert Fox Copper Inc., have provided an update of activities, including results of the hyperspectral survey for its 100-per-cent-owned Sombrero Butte copper project. The Sombrero Butte project is located approximately three kilometres south of the Copper Creek porphyry copper deposit in the historic Bunker Hill mining district in Arizona.

The full spectrum hyperspectral survey covered the entire Sombrero Butte project and collected continuous visual and near infrared (VNIR), short-wave infrared (SWIR) and long-wave infrared (LWIR) data. The survey was completed to map the distribution of alteration patterns exposed in outcrop across the project.

Highlights include:

• The SWIR anomalies exhibit a strong correlation to known breccias and has identified numerous other anomalous signatures interpreted to represent breccia pipes.
• Three areas have been identified that exhibit a crude circular pattern of illite-sericite that correlates with previously identified magnetic and radiometric anomalies suggestive of a porphyry system.
• The LWIR data identified one zone interpreted to represent argillic alteration and one zone interpreted to represent silica alteration.
• The anomalous areas outlined by the hyperspectral survey exhibit a strong correlation to the late-stage intrusives identified by the 2022 airborne magnetic survey.
• The survey identified alteration in the Copper Creek granodiorite, the host rock to target No. 2, located in the centre of the property. Target No. 2 is characterized by a chargeability/resistivity signature, alteration, porphyry-style mineralization and mineralized breccia pipes suggestive of a porphyry copper system.
• Detailed relogging of drill core from two historical drill holes has been completed, along with sampling for petrographic study and whole-rock geochemical analyses.

Elmer B. Stewart, president and chief executive officer of Copper Fox, commented: "The hyperspectral survey suggests that the phyllic and argillic alteration signatures at Sombrero Butte are more widespread than previously known. These recently identified anomalous areas correlate with airborne magnetic and radiometric anomalies indicative of a porphyry copper system, and suggest the presence of a significant number of potential breccia pipes, an indicator of a potential buried porphyry copper system. The relogging program was undertaken to map the intensity and mineralogical changes in these holes as a guide to the possible location of the porphyry centre."

Drill core relogging

DDH SB-03 and DDH SB-23 are the deepest holes completed on the property and were relogged and sampled for both petrographic studies and whole-rock geochemical analyses. In addition to collecting lithology, alteration and textural data, magnetic susceptibilities, and the density of mineralized structures/metre were recorded to determine if sampling of the core in DDH SB-23 for analytical purposes is warranted.

DDH SB-03 was drilled to the northeast, toward the chargeability anomaly referred to as target No. 1 on the Sombrero Butte project. This drill hole intersected intervals of strong to moderate chalcopyrite plus or minus bornite in veins and veinlets in the Copper Creek granodiorite, commonly associated with pervasive K-feldspar flooding in the core interval from 492 m to 578 m. Of interest is the absence of pyrite and molybdenite in this drill hole. The interval from 492 m to 578 m returned a weighted average of 1,414 parts per million (ppm) (0.14 per cent) copper and 30 ppm molybdenum over the 86 m core interval, with individual sample intervals up to 0.64 per cent copper and 190 ppm molybdenum.

DDH SB-23 was a vertical hole drilled to a depth of 1,230.7 m. The interval from 524 m to 1,230.7 m (end of the hole) intersected the Copper Creek granodiorite, and was not sampled despite the presence of intervals of disseminated and stockwork veinlets of quartz plus K-feldspar plus chalcopyrite plus or minus bornite and pyrite. Molybdenite was observed to occur along fractures within this interval. Mapping the changes in mineral species from dominantly copper sulphides (chalcopyrite plus or minus bornite plus or minus pyrite) to primarily iron sulphides (pyrite plus or minus chalcopyrite plus or minus bornite) could be used as a vector to the copper shell of the porphyry system.

Mr. Stewart, MSc, PGeol, president and CEO 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 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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