Copper Fox Announces 2023 Exploration Plans FOR Mineral Mountain Copper Project

COPPER FOX ANNOUNCES 2023 EXPLORATION PLANS FOR

MINERAL MOUNTAIN COPPER PROJECT

Calgary, Alberta– March 30, 2023. Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSXV:CUU

– OTCQX:CPFXF) and its wholly owned subsidiary, Desert Fox Copper Inc. (“ Desert Fox”), are pleased to

announce that they have executed a contract with Quantec Geosciences USA Inc. to conduct a deep penetrating

geophysical survey on its 100% owned Mineral Mountain project located approximately 25 kilometers (‘km’) (15

miles) east of Florence, Arizona. The geophysical survey will employ Quantec’s ORION 3D Swath DCIP

configuration. Highlights of the survey are set out below:

Highlights

• The objective of the survey is to further define the horizontal and depth extensions of the open-ended

chargeability and resistivity signatures associated with the 4,500 meter (‘m’) long by 2,000 m wide

copper “footprint”.

• Detailed mapping of lithology, alteration and mineralization along the proposed geophysical survey

lines is planned to better interpret the results of the geophysical survey.

• The survey is to commence in May 2023 and may vary subject to crew availability.

• Geochemical vectoring (Cu/Zn ratio) defined a 4,000 m long northeast-southwest trending corridor

potentially hosting two additional porphyry targets on strike with the mineralized Laramide age

intrusive.

Elmer B. Stewart, President, and CEO of Copper Fox, stated, “The planned ORION 3D Swath DCIP survey has

been used at ou r advanced exploration stage Eaglehead copper-gold-molybdenum porphyry project in northern

British Columbia with considerable success. Mineral Mountain is a Laramide age porphyry copper-molybdenum

system with enriched gold concentrations like several porphyry system s in the Safford mining district in

southeastern Arizona with potential to locate several additional porphyry centers on strike with the mineralized

Laramide age intrusive.”

Geological Model

Mineral Mountain is a copper (gold-molybdenum) rich porphyry system characterized by a strong copper-magnetite

association that was subjected to several episodes of weathering/oxidization commonly seen in porphyry copper

systems in Arizona . The Cu-Au-Mo mineralization is hosted in mineralized and non -mineralized, porphyritic

granodioritic and quartz monzonitic phases of the Laramide age intrusive (69.7 +/- 0.4 Ma; U/Pb zircon) . The

porphyry style mineralization is associated with strong Potassic alteration (K-Spar-biotite-magnetite) and Sericitic

(sericitic-chlorite +/-actinolite) alteration. Propylitic (epidote + chlorite) is peripheral to mineralization and in

places overprints the Potassic and Sericitic alteration evidenced by copper-epidote veining. The mineralization,

alteration and the open-ended positive chargeability signature/resistivity signature identified in 2021 show a strong

spatial correlation to several late-stage, pipe-like, intrusives within the Laramide intrusive with positive magnetic

signatures attributed to early stage Potassic alteration.

2023 Geophysical Survey

The objective of the planned 50.5 km survey (see Image #1) is to map the chargeability and resistivity signatures

of the porphyry mineralization and associated alteration patterns located within the multi -phase Laramide age

intrusive. Utilizing the ORION 3D SWATH DCIP survey, configuration is expected to provide a better definition

of the thickness of the surface weathering/oxidization profile, expand the limits of the chargeability and resistivity

signature outlined in 2021 and map the two additional porphyry targets identified by the Cu/Zn ratio modelling.

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Image #1: Planned 2023 Geophysical survey outline.

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Geochemical Vectoring

Porphyry copper deposits exhibit metal zonation patterns grading from copper mineralization at the core (proximal)

outward to base metal mineralization (distal) toward the edge of the porphyry system. The Cu/Zn ratio is commonly

used to indicate proximity to the center of a porphyry system. The Cu/Zn ratio (based on 500 samples) for the

Mineral Mountain project identified a structurally controlled northeast Cu/Zn trend (see Image #2) consistent with

the copper mineralization, alteration patterns and interpreted late-stage intrusive activity. The areas exhibiting a

Cu/Zn ratio greater than 50 exhibit a strong spatial association to the known copper occurrences within Laramide

age intrusive and suggests the potential for additional porphyry centers within the Mineral Mountain project.

Image #2: Plan map showing generalized Cu/Zn ratio at various contour intervals within the Laramide age intrusive . Dimensions of the

identified areas may be larger than actual due to extrapolation of values by the Micromine modelling software.

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Elmer B. Stewart, MSc. P. Geol., President, and CEO of Copper Fox, is the Company’s non-independent, nominated

Qualified Person pursuant to National Instrument 43 -101, Standards for Disclosure for Mineral Projects, and has

reviewed and approves the scientific and technical information disclosed in this news release.

About Copper Fox:

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSXV: CUU) and the

OTC Market (OTCQX: CPFXF) and is focused on copper exploration and development in Canada and the United

States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being

Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 100% ownership of the Van Dyke oxide copper

project located in Miami, Arizona and the 25% interest in the Schaft Creek Joint Venture with Teck Resources

Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. For

more information on Copper Fox’s other mineral properties and investments visit the Company’s website at

copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart

President and Chief Executive Officer

For additional information contact: Jason Shepherd 1-844 484-2820 or at [email protected].

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.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E

of the Securities Exchange Act of 1934, and forward -looking information within the meaning of the Canadian securities laws (collectively,

“forward-looking information”). Forward -looking information is generally identifiable by use of the words “believes,” “may,” “plans,”

“will,” “anticipates,” “intends,” “budgets”, “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative

of such expressions. Forward-looking information in this news release includes statements regarding; completion of a geophysical survey;

Cu/Zn ratio modelling; the identification of late stage intrusives; the correlation of several of the late-stage intrusives and copper-molybdenum

mineralization and alteration; and exploration of the project.

In connection with the forward -looking information contained in this news release, Copper Fox and its subsidiaries have made numerous

assumptions regarding, among other things: the geological advice that Copper Fox has received is reliable and is based upon practices and

methodologies which are con sistent with industry standards ; and the reliability of historical reports . While Copper Fox considers these

assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause Copper Fox’s actual results, performance, or achievements to be

materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained

herein. Known risk factors include, among others: the geophysical and geological surveys may not be completed as planned or at all; further

exploration of the property may not be completed as planned or at all ; the dimensions and shape of the mineralized areas may not be as

estimated; the Cu/Zn modelling may not be accurate; the surface mineralization may not represent a buried porphyry style mineralization ;

uncertainties relating to interpretation of the outcrop sampling results ; continuity and concentration of the mineralization; the financial

markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty as to timely availability of permits

and other governmental approvals.

A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with

Canadian securities regulatory authorities at www.sedar.com. All forward -looking information herein is qualified in its entirety by this

cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward -looking information or to publicly

announce the result of any revisions to any of the forward -looking information contained herein to reflect future results, events, or

developments, except as required by law.