Mr. Stephen Gray reports

FOX TUNGSTEN ANNOUNCES RESIGNATION OF DIRECTOR

Fox Tungsten Ltd.'s Grant McAdam has resigned from the company's board of directors.

Investment funds managed by Waratah Capital Advisors Ltd. have indicated an intention to participate in the offering, as previously disclosed in the company's news release dated March 24, 2026, on a pro rata basis. As a result of Canadian securities law requirements, which prohibit registered advisers such as Waratah from investing in an issuer when one of its investment team members serves as an officer or director of the issuer, Mr. McAdam has resigned from the board of directors of the company, effective immediately. However, Waratah has confirmed that it intends to exercise its right to nominate a replacement to the board of the company.

The company would like to thank Mr. McAdam for his contributions to the board and wishes him all the best in his future endeavours.

About Fox Tungsten Ltd.

Fox Tungsten is focused on making new discoveries and building resources in proximity to infrastructure on the company's 100-per-cent-owned portfolio of diversified metals projects in British Columbia.

Projects include the high-grade Fox tungsten deposit, the Silverboss molybdenum-copper-gold-silver project adjacent to Glencore's closed Boss Mountain molybdenum mine, and the adjacent Hen-Art-DL gold and silver project.

On Nov. 7, 2024, Fox Tungsten announced the closing of the sale of the Highland Valley copper project to Metal Energy Corp. Fox Tungsten holds 2,347,220 common shares of Metal Energy.

Fox Tungsten is committed to responsible mineral resource development. The company's priority is to build and sustain mutually beneficial relationships with indigenous communities in the territories in which the company explores.

We seek Safe Harbor.