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Vancouver, British Columbia – TheNewswire - September 4, 2026 – Fox Tungsten Ltd. (TSXV: FOXT; OTC Pink: FOXTF) ("Fox Tungsten" or the "Company") is pleased to announce that it has received an exemption from the British Columbia Ministry of Water, Land and Resource Stewardship authorizing construction of a new access trail through a Wildlife Habitat Area ("WHA") to the Company's Fox Tungsten Project in south-central British Columbia.  

The Company has also received the necessary authorizations from the British Columbia Ministry of Mining and Critical Minerals for construction of the trail and has extended its Fox Multi-Year Area Based ("MYAB") 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 C$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 ongoing regional caribou conservation and monitoring efforts.

" Receiving these authorizations is an important milestone for the Fox Project ," said Steve Gray, President and CEO 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 funded 20,000 meter 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.

Figure 1 - Proposed Access Trail Layout and Location

Click Image To View Full Size

On behalf of the Board of Directors,

“Steve Gray”

President and Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:

Steve Gray

Email: steve.gray@foxtungsten.com

Phone: 416-898-7247

About Fox Tungsten Ltd.

Fox Tungsten Ltd. is a Canadian critical minerals company focused on advancing its 100%-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 5 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% WO ₃ (Indicated) and 565,000 tonnes grading 1.231% WO ₃ (Inferred). The Fox deposit remains open for expansion, with exploration targeting resource growth both laterally and at depth.

The ongoing 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 ("PEA"), 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.

Additional information relating to Fox Tungsten Ltd. may be obtained on SEDAR+ at www.sedarplus.ca or on the Company's website at www.foxtungsten.com .

Forward Looking Statement

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains "forward-looking information" within the meaning of applicable securities laws, including statements that address capital costs, recovery, grade, and timing of work or plans at the Company’s mineral projects. Forward-looking information may be, but not always, identified by the use of words such as "seek", "anticipate", “foresee”, "plan", "planned", "continue", "expect", “thought to”, "project", "predict", "potential", "targeting", "intends", "believe", “opportunity”, “further” and others, or which describes a goal or action, event or result such as "may", "should", "could", "would", "might" or "will" be undertaken, occur or achieved. Statements also include those that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion of mineralization, potential type(s) of mining, potential grades as well as to Fox Tungsten’s ability to fund ongoing expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades, favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of Fox Tungsten and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which may cause the actual results to materially differ, and/or any future results expressed or implied by such forward-looking information. Additional information on risks and uncertainties can be found within Financial Statements, Prospectus and other materials found on the Company’s SEDAR profile at www.sedarplus.ca . Although Fox Tungsten has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Fox Tungsten withholds any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.

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