Copper Fox Announces Q1 2026 Results and Project Updates
COPPER FOX ANNOUNCES Q1 2026 RESULTS AND PROJECT UPDATES
Calgary, Alberta – March 25, 2026, Copper Fox Metals Inc. (“Copper Fox” or the “Company”)
(TSXV:CUU | OTCQX:CPFXF | FSE:HPU) announces that its that its unaudited interim consolidated
January 30, 2026, financial statements have been filed on SEDAR+. For the Quarter ended January 31,
2026, Copper Fox had a net loss of $242,857 (October 31, 2025 – $1,071,237) which equated to $0.00
loss per share (October 31, 2025 - $0.00 loss per share).
Elmer B. Stewart, President and CEO of Copper Fox, stated, “During the Quarter, Copper Fox made
significant progress advancing its objective of completing a prefeasibility study (PFS) on its Van Dyke
project. With the early stage works of the preliminary economic assessment (PEA) in progress,
advancing the hydrogeological studies is expected to add significant insight into understanding solution
flow within the Van Dyke deposit, a critical parameter in estimating the sweep efficiency and predict
expected future copper production. At Mineral Mountain, the first drillhole in its “maiden” drilling
program has been completed, the drill was moved to the second drillhole, approximately 1.3km to the
northeast to test another portion of this very large porphyry copper target. The Multi Year Area Based
(MYAB) permit application for the Eaglehead project has been submitted to the BC Ministry of Mines.
Work plans for conducting additional exploration at Sombrero Butte to locate potential drillhole
locations are underway. At Schaft Creek, the majority of the 2025 activities have been reported,
however the results of the metallurgical testwork remain outstanding. Copper Fox expects to provide
updates on both the Schaft Creek and Mineral Mountain projects shortly.”
During the Quarter ended January 31, 2026, the Company incurred $1,114,656 in expenditures toward
furthering the development of its Schaft Creek and Van Dyke copper projects and further exploration
of its Eaglehead, Sombrero Butte and Mineral Mountain copper projects. Copies of the financial
statements, notes, and related management discussion and analysis may be obtained on SEDAR+ at
www.sedarplus.ca, the Company’s web site at www.copperfoxmetals.com or by contacting the
Company directly. All references to planned activities and technical information contained in this news
release have been previously announced by way of news releases. All amounts are expressed in
Canadian dollars unless otherwise stated.
Q1-2026 Highlights
Announced an update on the strategy and activities required to position the Van Dyke project
to transition to the PFS stage and the execution of non-binding letters of intent to access
industrial water for leaching purposes and an offtake agreement for the material excavated
from the proposed underground excavation.
Results of the 2025 drilling program at Schaft Creek which included intersecting mineralization
500m south of the Liard zone. Analytical results include:
DDH SCK-25-478, intersected a 67.27m core interval (357.73 to 425.00m) that averaged
0.286% copper, trace molybdenum, 1.814g/t gold and 1.77g/t silver that included an 11.5m
core interval (408.50 to 420.00m) that averaged 0.381% copper, trace molybdenum,
9.352g/t gold and 2.67g/t silver.
2
DDH SCK-25-480, intersected a 181.50m core interval (21.00 to 202.50m) that averaged
0.299% copper, 0.006% molybdenum, 0.088g/t gold and 0.96g/t silver, that included a
15.00m core interval (110.90 to 125.90m) that averaged 0.562% copper, 0.009%
molybdenum, 0.131g/t gold and 1.70g/t silver.
Announced the results of merging the chargeability and resistivity data from the geophysical
surveys completed on the Eaglehead porphyry copper project between 2014 and 2025.
Subsequent to the Quarter Ended
Completed a non-brokered private placement of approximately $3,000,000 in gross proceeds
by issuing 4,615,384 common shares at a price of $0.65 per share.
Announced commencing the PEA on the Van Dyke project along with a 3-D numerical
groundwater flow model and continued hydrogeological data collection.
Announced 2025 results from the Schaft Creek ongoing geotechnical, hydrogeological,
environmental, and meteorological studies.
Van Dyke, Arizona
With the Van Dyke project having the potential to become a near term scalable, ESG-aligned mid-size
copper mine, having the right team to complete the updated PEA is a major step in advancing the
project to the PFS stage. A critical portion of advancing the project is demonstrating to the federal and
state regulatory bodies that future leaching operations can be conducted in a safe, environmentally
friendly manner. To achieve this, understanding fluid flow patterns within the Van Dyle project is
critical to configure the well field design to contain and recover the leaching fluids, but also provides
data that can be used to estimate the sweep efficiency which impacts predicted copper production,
both critical aspects of maximizing the economics of the Van Dyke project. Early works related to the
updated PEA, consisting of locating sites for the portal to the decline to access the deposit and the
location of the SX-EW plant and related facilities, core sampling to confirm the limits of the recoverable
copper mineralization and meetings with the Town of Miami on obtaining a permit to conduct future
drill programs were completed. The semi-regional 3-D numerical groundwater flow modelling to
assess the groundwater flow within the Bloody Tanks Wash drainage basin and its effect on the
groundwater within the Van Dyke project along with hydrogeology monitoring and sampling to detect
changes in water quality continue.
Mineral Mountain, Arizona
During the Quarter, the first ever drilling program on the large Laramide age porphyry target at
Mineral Mountain commenced. The project is located on a prolific copper trend in Arizona,
approximately 25km southwest of the giant Resolution porphyry copper deposit and 20km northeast
of the Florence ISCR deposit. The preparation of a news release announcing preliminary details for
DDH MM-01-2025 is underway and is expected to be released shortly, with DDH MM-02-2025 still
being drilled.
Schaft Creek, British Columbia
At Schaft Creek, total expenditures by the Schaft Creek Joint Venture (SCJV) from inception in 2013 to
the end of 2025 is approximately $90 million. Since completion of the 2021 Schaft Creek PEA, the SCJV
has focused on completing a series of studies to advance the project from the PEA to the PFS stage and
using the data collected from these studies to assess the potential impact of project development on
3
the local environment. These studies are an integral part of an ongoing process of collecting data and
identifying data gaps on which to base future programs to achieve the PFS level in accordance with
industry standards. The 2025 drill results south of the Schaft Creek deposit combined with the 2024
drill results north of the deposit imply significant resource expansion potential to develop a long-life
copper asset for the SCJV. The 2026 Schaft Creek budget and program are expected to be released
shortly.
Eaglehead, British Columbia
At Eaglehead, a MYAB permit application has been submitted to the BC Ministry of Mines. Receipt of
this permit is fundamental to allow additional exploration to advance this project to the PEA stage.
Sombrero Butte, Arizona
The Sombrero Butte project has advanced to the drill ready stage to test the large Laramide age
porphyry copper target located in the center of the project. Selecting drillhole locations that provide
the best chance of intersecting the copper shell of the porphyry system is an important part of
preparing a Plan of Operation (PoO). Considering the positive results from the re-modelling of the
2024 geophysical data and recent surface mapping, Copper Fox has delayed preparation of the PoO to
conduct additional field work to select the drillhole locations that provide the best possible chance of
intersecting the “copper shell” of the porphyry system.
Elmer B. Stewart, MSc, P.Geo, President 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.
Selected Financial Results
3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
January 31, 2026 October 31, 2025 July 31, 2025 April 30, 2025
Loss before taxes $ 242,857 $ 336,885 $ 295,679 $ 374,058
Net loss 242,857 164,538 295,679 374,058
Comprehensive (gain) / loss 964,419 (100,174) 197,381 1,225,382
Comprehensive loss per share,
basic and diluted
0.00 0.00 0.00 0.00
3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
January 31, 2025 October 31, 2024 July 31, 2024 April 30, 2024
Loss before taxes $ 236,962 $ 261,484 $ 293,185 $ 302,668
Net loss 236,962 (219,427) 293,185 302,668
Comprehensive (gain) / loss (461,245) (402,630) 199,185 (167,104)
Comprehensive loss per share,
basic and diluted
0.00 0.00 0.00 0.00
Liquidity
As at January 31, 2026, the Company’s cash position was $306,730 (October 31, 2025- $686,236) and
as of the date of this news release the Company’s cash position is $1,308,194.
4
About Copper Fox
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% of the Van Dyke ISCR project, a
development stage, potential near term, mid-size copper mine in Arizona and a 25% interest in the
Schaft Creek Joint Venture with Teck Resources Limited (75% 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% 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. For
more information on Copper Fox’s mineral properties and investments visit the Company’s website at
www.copperfoxmetals.com.
On behalf of the Board of Directors,
Elmer B. Stewart
President and Chief Executive Officer
For additional information contact Lynn Ball at 1-844-464-2820, [email protected]
Neither 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 include statements regarding; advancing the Schaft Creek and Van Dyke projects to
the PFS stage; Van Dyke hydrogeological studies adding significant insight; completing a PEA on Van
Dyke; moving the Eaglehead project toward the PEA study stage; completing a work program for
Sombrero Butte; and providing updates on Schaft Creek and Mineral Mountain projects shortly.
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,
financial, and economic advice that Copper Fox has received is reliable and is based upon practices and
methodologies which are consistent with industry standards; and the stability of economic and market
conditions. 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 Van Dyke and Schaft Creek projects may not advance to the PFS
5
stage; the maiden drilling program at Mineral Mountain may not be successful; the PEA may not get
completed at Van Dyke; Eaglehead may not receive an approved MYAB permit; work programs at
Sombrero Butte may not get started; the overall economy may deteriorate; uncertainty as to the
availability and terms of future financing; copper prices and demand may fluctuate; currency exchange
rates may fluctuate; conditions in the financial markets may deteriorate; 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.sedarplus.ca.
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.