Mr. Steve Gray reports

FOX TUNGSTEN RECEIVES AUTHORIZATIONS FOR NEW ACCESS TRAIL

Fox Tungsten Ltd. has received an exemption from the B.C. Ministry of Water, Land and Resource Stewardship authorizing construction of a new access trail through a wildlife habitat area to the company's Fox tungsten project in south-central British Columbia.

The company has also received the necessary authorizations from the B.C. Ministry of Mining and Critical Minerals for construction of the trail and has extended its Fox multiyear area-based permit through March 31, 2031.

The new access trail is expected to provide safer and more reliable access for personnel, equipment and supplies while improving operational efficiency and reducing the company's reliance on helicopter support.

As part of the WHA exemption, Fox Tungsten has committed to support a regional caribou monitoring program. The company expects to contribute approximately $300,000 over five years toward the initiative. Fox Tungsten views this commitment as an important component of advancing the Fox project responsibly while supporting continuing regional caribou conservation and monitoring efforts.

"Receiving these authorizations is an important milestone for the Fox project," said Steve Gray, president and chief executive officer of Fox Tungsten. "The new access trail will improve safety and operating efficiency, reduce our reliance on helicopters, and provide more reliable access as we continue to advance the project. We appreciate the collaborative approach taken by the province throughout the review process, and remain committed to responsible project development and supporting regional caribou conservation."

The company's fully financed 20,000-metre exploration program is continuing to progress well, with initial assay results expected in the coming weeks. The 2026 program is designed to support resource expansion and further exploration of the Fox project, with the company targeting completion of an updated mineral resource estimate and preliminary economic assessment in 2027.

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 National Instrument 43-101 mineral resource estimate includes 582,400 tonnes grading 0.826 per cent WO 3 (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.