Mr. Elmer Stewart reports

COPPER FOX ANNOUNCES 2026 SCHAFT CREEK PROGRAM

Copper Fox Metals Inc. has provided an overview of the planned 2026 program at Schaft Creek, focused on addressing key aspects required in transitioning the project to the prefeasibility stage. The Schaft Creek project is managed through the Schaft Creek joint venture (SCJV). Teck Resources Ltd. is the operator of the SCJV and holds a 75-per-cent interest, with Copper Fox holding the remaining 25 per cent interest. The Schaft Creek deposit, located in northwestern British Columbia, is one of the largest undeveloped porphyry copper deposits in North America that contains significant gold-molybdenum-silver byproducts.

Highlights of the 2026 program:

• Planned expenditures in 2026 of $9.1-million;
• Addresses key aspects of the scoping study review, including a technical review of the geological model, metallurgical test work, tailings and mine plan options analysis, and access road trade-off studies;
• Preparation for the prefeasibility study;
• Limited camp maintenance and environmental sampling field program;
• BC Hydro system impact study.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "Copper Fox is pleased with the scope and direction of the 2026 budget and program. The emphasis on the project is transitioning from data collection to assessing the technical status of the project and is forward-looking in terms of energy requirements. The closeout of the scoping stage review is a critical aspect of project development in preparation for entering the prefeasibility stage."

Technical reviews

Since completion of the 2021 preliminary economic assessment, the SCJV has conducted a series of investigations designed to advance key project parameters of the project. The reviews planned in 2026 are focused on assessing the status of each of these key project parameters and identifying possible data gaps to determine if additional studies are required to meet the threshold for a prefeasibility study for the Schaft Creek project in accordance with industry standards.

System impact study

A major component of project planning is to determine its energy requirements and to ensure access to the energy required to meet operating requirements. The SCJV has retained BC Hydro to complete a system impact study to better understand the energy requirements of the Schaft Creek project and its impact on the British Columbia electrical grid. The study is expected to take several years to complete.

Field program

The 2026 field program is focused on completing maintenance and upgrades to the camp for future programs and conducting limited environmental data collection.

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, has reviewed and approved 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 development and exploration in the United States and Canada. Copper Fox and its subsidiaries own 100 per cent of the Van Dyke ISCR project, a development-stage, potential near-term, mid-size copper mine in Arizona, and a 25-per-cent interest in the Schaft Creek joint venture with Teck Resources Ltd. (75-per-cent interest and operator), which hosts the Schaft Creek copper-gold-molybdenum-silver project in British Columbia's Golden Triangle. In addition, Copper Fox owns 100 per cent of the resource-stage Eaglehead polymetallic porphyry copper project in northwestern British Columbia and the Sombrero Butte and Mineral Mountain advanced-exploration-stage porphyry copper projects located in the prolific Laramide-age copper province in Arizona.

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