Mr. Elmer Stewart reports

COPPER FOX COMPLETES FINAL PAYMENT ON THE EAGLEHEAD COPPER PROPERTY

On April 19, 2024, Copper Fox Metals Inc., through its wholly owned subsidiary Northern Fox Copper Inc., completed the final instalment payment of $330,000 to District Copper Corp. The terms and conditions of the purchase of the Eaglehead porphyry copper project located in northwestern British Columbia were set out in a news release dated Feb. 10, 2020.

The aggregate consideration paid by Northern Fox for the Eaglehead property was $1,412,000, of which $1.2-million was paid to District Copper and $212,000 was paid to the B.C. Ministry of Energy, Mines and Low Carbon Innovation to assume the reclamation bond for the Eaglehead property.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "Making the final payment on the acquisition of the Eaglehead property is another milestone the company has achieved after filing a mineral resource estimate (MRE) on SEDAR+ titled 'NI 43-101 Mineral Resource Estimate of the Eaglehead Project' with an effective date of Aug. 21, 2023, prepared by Sue Bird, PEng, of Moose Mountain Technical Services. The MRE reported an indicated mineral resource of 0.5 billion pounds (Blb) copper equivalent (CuEq) and an inferred mineral resource of 1.3 Blb CuEq (see news release dated Aug. 30, 2023, for details). We are excited to continue working on this advanced-stage porphyry copper exploration project located within the prolific Liard mining district in B.C. The 2024 work program is currently under review as the company recently received confirmation that the project's B.C. exploration permit was extended to March 31, 2026. The exploration permit contemplates a 2,500-metre drill program to test the gap between the Bornite and East zones, positive results from this program could potentially increase the size of the resource."

Eaglehead project

Eaglehead is an intrusion-hosted calc-alkalic polymetallic (copper-molybdenum-gold-silver) porphyry copper system located approximately 50 kilometres east of Dease Lake, B.C. The property covers 15,713 hectares centred over a Late Triassic to Early Jurassic multiphase, granodioritic/dioritic intrusive stock that hosts six mineralized zones within an interpreted mineralized corridor measuring approximately eight km long by three km wide. Historical exploration includes 126 diamond drill holes (36,605 metres), preliminary metallurgical test work, airborne and ground geophysical surveys, soil and stream sediment geochemical surveys, and limited prospecting and mapping.

Qualified person

Mr. Stewart, MSc, PGeol, president and CEO of Copper Fox, the company's non-independent, nominated qualified person pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed 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 subsidiaries, being Northern Fox Copper and Desert Fox Copper Inc., are the 100-per-cent ownerships of the Van Dyke in situ copper recovery project, and the Mineral Mountain and Sombrero Butte porphyry copper exploration projects, all located in Arizona, the 25-per-cent interest in the Schaft Creek joint venture with Teck Resources Ltd. on the Schaft Creek copper-gold-molybdenum-silver project and the 100-per-cent-owned Eaglehead polymetallic porphyry copper project, each located in northwestern British Columbia.

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