Mr. Elmer Stewart reports

COPPER FOX COMPLETES PRELIMINARY GEOMETALLURGICAL MODEL ON VAN DYKE ISCR COPPER PROJECT

Through Copper Fox Metals Inc.'s wholly owned subsidiary Desert Fox Van Dyke Co., the company has provided the results of the preliminary geometallurgical model completed by Samuel Engineering on its 100-per-cent-owned Van Dyke in situ copper recovery (ISCR) project located in the Globe-Miami mining district, Gila county, Arizona (see news release dated June 23, 2025).

In 2020, Copper Fox announced the results of an updated mineral resource estimate (MRE) and preliminary economic assessment (PEA) on Van Dyke using a $3.15 (U.S.)/pound copper price for the base case economic model. The PEA indicates annual production of 85 million pounds of Grade A copper cathode, at full capacity, utilizing the ISCR and solvent extraction and electrowinning (SX/EW) process. The study highlighted the following:

1. Project economics sensitive to copper price;
2. Significant exploration potential to increase resource base;
3. A recommendation to advance the project to prefeasibility study (PFS) stage.

Preliminary geometallurgical model (PGM)

The PGM achieved three critical components for developing an updated geometallurgical model to support the completion of a PFS level of investigation by identifying the mineralogical domains (zones) in the Van Dyke deposit, data gaps in the project metallurgical results across the deposit and developed recommendations for future metallurgical testing.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "The PGM has identified the data gaps in the metallurgical coverage across the Van Dyke deposit and recommendations for future sampling to gain greater certainty on the metallurgical variability across the Van Dyke deposit. The PGM is a critical part of the execution plan that maps out the scope, timing and estimated cost of the studies required to meet the threshold of a PFS level study."

Mineralogical domains

The mineralogical domains identified in the Van Dyke deposit are consistent with the general description of Supergene copper deposits. At Van Dyke, the oxide and transition zones are the main zones of interest. Below the transition/chalcocite zones the mineralization, where present, consists of sporadic concentrations of chalcopyrite and pyrite.

Gap analysis

Metallurgical testwork at Van Dyke consists of: eight pressure leach tests (PRT) on whole core samples in 2014 and 65 bottle roll leach tests (BRT) in 2023 from selected drill holes located within the phase I leaching plan (year 1 to 7) set out in the 2020 PEA (preliminary economic assessment). Data gaps in the metallurgical database represent potential risk of variability in copper extraction and recovery.

The metallurgical testwork completed on similar deposits in Arizona was used to benchmark mineral characterization, process route selection and assessing processing risks for the Van Dyke project. The data from these tests were correlated spatially to the 2020 resource block model and the mineralogical domains identified within the Van Dyke deposit.

Identification of the data gaps allows for preselection of representative sample locations within the mineralogical domains from future drill holes to support an updated geometallurgical model.

Future testwork recommendations

Recommendations for additional metallurgical testwork include using whole drill core samples to characterize the mineralization, identify mineralogy, BRT and corresponding PRT tests to establish correlation between the two tests, and their associated residue assays to evaluate/confirm optimum acid addition and consumption, leach cycle duration, and predicted copper extraction.

The closed-cycle PRT tests should include solvent extraction of the pregnant leach solution and detailed mineralogical studies on head samples as well as leach residues for each test. The quantification of carbonates and clays should be performed on head samples.

Sampling protocols

Completion of the PGM established the following protocols for future metallurgical testing:

• Sample preparation and analysis and bottle roll testing on a subsample of the head sample;
• Testing protocols, PRT column height, leach solution chemistry, application rates or additional methods considering hydraulic pressure limits that include the following:
  • Consideration of higher initial acid content to improve leach cycle time;
  • Define sequential (multiple columns in series) tests to better understand transmissivity and its impact over time;
  • Consideration of reverse flow test for pH optimization;
  • Consideration of duplicate tests.
• Assay/mineral studies on the leached sample residue.

Qualified person

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 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 Desert Fox Copper Inc., and Northern Fox Copper Inc. are the 100-per-cent ownership of the Van Dyke oxide copper project located in Miami, Arizona, the 100-per-cent interest in the Mineral Mountain and Sombrero Butte porphyry copper exploration projects 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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