Mr. Stephen Gray reports

FOX TUNGSTEN ANNOUNCES APPOINTMENT OF MARK WELLINGS AND GREG HUFFMAN TO THE BOARD OF DIRECTORS AND GRANTS INCENTIVE STOCK OPTIONS

Following the resignation of Grant McAdam from Fox Tungsten Ltd.'s board of directors on March 24, 2026, investment funds managed by Waratah Capital Advisors Ltd. have exercised their right to nominate a replacement director. Waratah has nominated Mark Wellings as its representative on the board, and Mr. Wellings has been appointed as a director of the company, effective April 13, 2026.

Mr. Wellings is a finance professional with over 30 years of international experience in both the mining industry and mining finance sector. Until its recent acquisition by Altius Minerals Corp., Mr. Wellings was vice-chair and the executive vice-president, technical, at Lithium Royalty Corp. Mr. Wellings is a professional engineer and holds a bachelor of applied science in geological engineering from the University of Windsor and a master of business administration from the University of Western Ontario.

The company is also pleased to announce the appointment of Greg Huffman as a director of the company, effective April 13, 2026.

Mr. Huffman has over 20 years of capital market experience in the mining sector, spanning positions in institutional mining equity sales, fund management and mining equity research. He is currently senior vice-president, capital markets, at Magna Mining Inc. Mr. Huffman holds a BSc in earth sciences (geology) from the Harquail School of Earth Sciences at Laurentian University in Sudbury, Ont.

The company has granted stock options to certain of its directors, officers and consultants to purchase up to one million common shares. Each option is exercisable to acquire one common share of Fox Tungsten at a price of 20 cents until April 13, 2031. The options will vest in accordance with the company's equity incentive plan and are subject to TSX Venture Exchange acceptance.

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 metal 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.