Mr. Steve Gray reports

FOX TUNGSTEN INTERSECTS MULTIPLE NEW MINERALIZED ZONES AT FOX NORTH

Fox Tungsten Ltd. has provided an update on its fully financed 20,000-metre diamond drill program at the Fox project in British Columbia, where drilling has intersected visible scheelite mineralization in multiple target areas, including several previously unrecognized parallel mineralized zones at Fox North.

Analytical results have not yet been received. However, visual observations from drilling completed to date provide encouraging indications that the company's exploration program is expanding the mineralized system.

Highlights:

• Scheelite observed in 100 per cent (three of three) exploration holes completed at Fox North;
• Scheelite observed in 100 per cent (seven of seven) reverse circulation resource expansion holes drilled to date;
• Two diamond drill rigs operating; 20,000-metre program progressing on schedule;
• Initial assay results expected in the coming weeks.

Fox North

Scheelite mineralization is visible in all three exploration holes at Fox North completed to date. Drilling has intersected multiple new parallel mineralized zones located between 375 metres and 675 metres west of the BK zone. These new mineralized zones strengthen the company's confidence in the geological model that the Fox deposit comprises a series of stacked, parallel tungsten-bearing zones and support the potential for significant expansion of the current mineral resource both laterally and vertically across parallel zones.

RC zone

Visible scheelite mineralization has been observed in all seven resource expansion holes drilled to date at the RC zone. These scheelite-bearing intersections extend the known mineralized footprint to the south toward the BN zone and support the company's interpretation that mineralization remains open along strike.

Chief executive officer commentary

Steve Gray, president and chief executive officer, commented: "While we are still awaiting assay results, it is very encouraging to consistently observe visible scheelite in our drill core across multiple target areas. Early drilling continues to validate our geological model, with new parallel mineralized zones identified at Fox North and continued expansion of the RC zone. These observations reinforce our confidence in the scale and continuity of the mineralized system and demonstrate the potential to meaningfully expand the Fox mineral resource as the program advances. We look forward to reporting assay results as they become available over the coming weeks."

Visible scheelite mineralization is a qualitative observation only. Scheelite fluoresces under ultraviolet light, allowing its presence to be identified in drill core. Visual observations are preliminary in nature, and do not confirm tungsten grade or economic mineralization. Laboratory analytical results are required to determine tungsten concentrations and will be released as they become available.

Qualified person statement

The technical and scientific contents of this release have been verified and approved by John Sims, PGeo, a qualified person pursuant to National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Fox Tungsten Ltd.

Fox Tungsten is a Canadian critical mineral company focused on advancing its 100-per-cent-owned portfolio of tungsten and polymetallic projects in British Columbia. The company's flagship Fox tungsten project hosts one of the highest-grade tungsten resources in the Western world and is being advanced through resource expansion drilling, metallurgical studies, engineering and permitting activities.

The Fox tungsten project is located approximately 75 kilometres northeast of 100 Mile House in south-central British Columbia and benefits from excellent infrastructure access. The property hosts a large-scale tungsten mineral system extending approximately 12 kilometres by five kilometres, with multiple high-grade zones occurring in a near-surface setting.

The current NI 43-101 mineral resource estimate includes 582,400 tonnes grading 0.826 per cent WO3 (indicated) and 565,000 tonnes grading 1.231 per cent WO3 (inferred). The Fox deposit remains open for expansion, with exploration targeting resource growth both laterally and at depth.

The continuing 20,000-metre drill program represents the largest exploration campaign in the company's history and is designed to significantly expand the current mineral resource while supporting an updated mineral resource estimate and preliminary economic assessment, targeted for completion in the second quarter of 2027.

In addition to Fox, the company owns the Silverboss molybdenum-copper-gold-silver project, located adjacent to Glencore's former Boss Mountain molybdenum mine in British Columbia.

Fox Tungsten is committed to responsible mineral resource development and building long-term, mutually beneficial relationships with indigenous communities and local stakeholders in the territories where the company operates.

We seek Safe Harbor.