Mr. Elmer Stewart reports

COPPER FOX PROVIDES UPDATE ON RESULTS OF 2025 PROGRAM AT SCHAFT CREEK

Copper Fox Metals Inc. has received the geotechnical, environmental and hydrogeological program reports completed on the Schaft Creek project in 2025. The Schaft Creek project is managed through the Schaft Creek joint venture (SCJV). Teck Resources Ltd. is the operator of the SCJV and holds a 75-per-cent interest, with Copper Fox holding the remaining 25-per-cent interest. The Schaft Creek deposit, located in northwestern British Columbia, is one of the largest undeveloped porphyry copper deposits in North America that contains significant gold-molybdenum-silver byproducts.

The 2025 program (see news release dated Jan. 30, 2025) was budgeted at $15.8-million and focused on furthering technical investigations on key infrastructure parameters and included drilling, geophysical surveys, archeological investigations, and environmental baseline studies in alignment with Tahltan Nation's cultural and social traditions.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "These studies form part of an ongoing program to collect geotechnical, hydrogeological, environmental and meteorological data to guide planning for future programs and support these important aspects of project development. The data from the 2025 field program indicates no significant changes from results of prior studies and conclude that the current geotechnical databases for the open-pit and rock storage footprint are sufficient to support a scoping level of study. The 2025 studies recommend future programs to provide support for permitting activities and augment these databases to meet threshold industry standards for a preliminary feasibility level of study."

Geotechnical

The geotechnical review included a comprehensive assessment of the geotechnical and hydrological data related to the pit-slope stability and potential rock storage locations for the Schaft Creek project.

The 2025 geotechnical review included the data collected between 2008 and 2025 and concluded that the geotechnical investigations conducted in 2023 and 2024 are considered appropriate for advanced scoping-level designs. The review recommended a gap analysis to identify areas for further investigation and that future studies should incorporate additional geotechnical and hydrogeological drilling and rock mechanics laboratory testing to expand the structural, geomechanical and hydrogeological databases. The review also recommended future programs would be required to meet current industry expectations (for data density and coverage of the proposed ultimate pit) for prefeasibility-level geotechnical design. The gap analysis is expected to identify how to most efficiently and effectively augment the existing databases to either assist in validating existing designs or provide a rationalization for modifying the design criteria. Updated and refined geotechnical and hydrogeological models will be required to support more detailed and sophisticated slope stability analyses.

The 2025 geotechnical review also included the historical and current geotechnical and drilling data from within or in proximity to the four potential rock storage facility (RSF) locations for the Schaft Creek project. The review identified significant challenges due to potential adverse foundation conditions and natural geohazards in portions of the proposed RSF footprints and concluded that the proposed locations are not considered to have been assessed sufficiently to inform beyond scoping-level studies. The review concluded that supplemental field investigations are required for the RSF areas and recommended a program that includes test pits, drilling and laboratory testing of recovered samples for assessing the suitability of each location for waste rock storage.

Meteorological review

This review covered the baseline meteorological and climate data collected since 2005 in the Schaft Creek area. The study was completed by Tahltan ERM Environmental Management and focused on predicting precipitation levels at the Schaft Creek site and at various elevations along proposed access roads. The meteorological data forms part of an environmental baseline monitoring program to characterize existing meteorological and climate conditions to assess potential impacts on project development to satisfy provincial monitoring requirements for environmental assessments (EA) and permitting processes.

Glacier monitoring

The primary purpose of the baseline glacier monitoring is to characterize existing glacial conditions to assess potential effects of sources of water on resource development in the Schaft Creek project area. The area around Schaft Creek is heavily glaciated and the impact of glacier mass balance, in terms of glacier dynamics and glacial water contribution to stream flow is an important variable to understand as part of the hydrological assessment of the Schaft Creek area. The glacier monitoring program provides information for water balance and water quality modelling, predicting stream flow and water quality implications and supporting engineering design.

Hydrometric monitoring

Hydrometric monitoring is used to characterize surface water resources and assess potential effects of resource development on water bodies and provides baseline data for subsequent water quantity and water quality modelling and provides data for other parameters such as dilution and runoff modelling and in-stream flow estimates.

Hydrogeology monitoring

The overall objectives of a baseline hydrogeology study are to provide calibration data for the development of integrated mine site water balances and understanding the regional hydrogeologic conditions. The 2025 hydrogeological monitoring program measured the groundwater flow conditions and K values (hydraulic conductivity) for each lithologic unit. The 2025 data are consistent with historic data across most monitoring wells and improved confidence in the conceptual hydrogeological model developed for the Schaft Creek project area. The data aer used to support the EA process and future design stages.

Qualified person

Elmer B. Stewart, MSc, PGeo, president and chief executive officer of Copper Fox, is the company's non-independent, nominated qualified person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information disclosed in this news release.

About Copper Fox Metals Inc.

Copper Fox is a Canadian resource company focused on copper development and exploration in the United States and Canada. Copper Fox and its subsidiaries own 100 per cent of the Van Dyke ISCR (in situ copper recovery) project, a development-stage, potential near-term, mid-sized copper mine in Arizona, and a 25-per-cent interest in the Schaft Creek joint venture with Teck Resources (75-per-cent interest and operator), which hosts the Schaft Creek copper-gold-molybdenum-silver project in British Columbia's Golden Triangle. In addition, Copper Fox owns 100 per cent of the resource-stage Eaglehead polymetallic porphyry copper project in northwestern British Columbia and the Sombrero Butte and Mineral Mountain advanced-exploration-stage porphyry copper projects located in the prolific Laramide-age copper province in Arizona.

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