Copper Fox Prepares FOR Geophysical Survey at Mineral Mountain Copper Project
DRAFT
COPPER FOX PREPARES FOR GEOPHYSICAL SURVEY AT
MINERAL MOUNTAIN COPPER PROJECT
Calgary, Alberta – April 19, 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 provide
an update on the recently completed mapping program in advance of the planned geophysical survey on its 100%
owned Mineral Mountain copper project located approximately 25 kilometers (15 miles) east of Florence, Arizona
(See News Release Dated March 30, 2023). Highlights of the mapping program are set out below:
Highlights
• Copper mineralization occurs primarily in Quartz-Kspar-Hematite, Quartz-Hematite, Quartz and
Hematite veins hosted in Potassic altered porphyritic quartz monzonite.
• Fracture-controlled, chalcopyrite-pyrite mineralization (trace amounts) occurs within the quartz
monzonite on the margins of the main zone of copper mineralization.
• The “pipe like” positive magnetic features identified by the 2022 airborne magnetometer survey are
due to a significant increase in magnetite content in the porphyritic quartz monzonite.
• The positive magnetic signature associated with the two potential targets along strike of the main
zone of mineralization are attributed to discrete zones of increased magnetite content in the Pinal
Schist and the Laramide intrusive.
• The mapping located several occurrences of copper mineralization cross-cutting late-stage aplite and
granodiorite dikes that suggest the introduction of several episodes of copper mineralization.
Elmer B. Stewart, President, and CEO of Copper Fox, stated, “The copper-magnetite (hematite) association and the
discovery of chalcopyrite/pyrite mineralization on the margin of the Laramide intrusive supports the exploration
model of a gold-molybdenum enriched porphyry copper system . The distribution and strong spatial association
between the zones of copper mineralization and potassic alteration within a broader zone of pervasive Sericite-
Chlorite alteration suggests “leakage” along faults and fractures from a buried porphyry system. Incorporation of
the data from the recent program into the project database is underway and an updated compilation is expected to
be completed in advance of commencing the geophysical survey.”
Geological Model
Mineral Mountain is a copper (gold-molybdenum) rich porphyry system characterized by a strong copper-magnetite
association that has been subjected to several episodes of weathering/oxidization/supergene enrichment, a process
commonly observed at porphyry copper systems in Arizona. These weathering/oxidization/supergene episodes
have transformed the pr imary copper mineralization (chalcopyrite-chalcocite and possibly bornite) to secondary
copper mineral s, specifically, malachite, chrysocolla and chalcocite and the magnetite to hematite. The
mineralization is hosted in a porphyritic quartz monzonitic phase of the Laramide age intrusive (69.7 +/- 0.4 Ma;
U/Pb zircon) associated with strong potassic alteration (Kspar-biotite-magnetite) contained within a broader zone
of Sericitic-Chlorite alteration. Propylitic (epidote + chlorite + calcite) alteration has been observed within the
potassic and sericitic alteration but is primarily located on the margin of the Sericite-Chlorite alteration. The
mineralization and alteration show a strong spatial correlation to s everal “pipe like” positive magnetic signatures
attributed to early stage potassic alteration.
Mapping Program
The mapping was completed within a 50-meter wide (approximate) corridor along the trace of the proposed
geophysical lines recording lithologies, alterations, style of mineralization and various types of vein assemblages.
Porphyritic (hornblende, feldspar, quartz phenocrysts) quartz monzonite is the main intrusive phase cut by late stage
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porphyritic (hornblende, feldspar, quartz phenocrysts) dikes of dacite and latite composition. The mapping
identified seven types of veins; four of which carry copper mineralization.
The mineralized veins are extensively leached due to the weathering/oxidization cycles leaving only remnants of
malachite, chrysocolla and secondary chalcocite within the veins. The copper mineralization is primarily hosted in
Quartz-Kspar-Hematite v eins, Quartz-Hematite veins , Quartz veins and Hematite veins and occasionally as
disseminated malachite within the porphyritic quartz monzonite intrusive. Non-mineralized Quartz veins, Kspar
veins and Quartz -Calcite veins were also observed. Trace amounts of c halcopyrite and pyrite occur coating
fractures and as dissemination in the porphyritic quartz monzonite marginal to the main zone of secondary copper
mineralization along the eastern side of the Laramide intrusive.
The Sericite-Chlorite alteration is evidenced by moderate to intense white sericite and locally light green sericite.
Propylitic alteration typically occurs as apple green epidote in discrete veinlets, along fracture surfaces and on the
edges of feldspar grains.
Target Investigation
Northeast Target: Mapping and prospecting located three discrete areas of increased magnetic susceptibility due
to fine-grained magnetite in the Pinal Schist. The reason for these increased concentrations of magnetite is unknown
at this time. The mapping and prospecting did not locate porphyry style copper mineralization.
Southwest Target: Mapping in this area located several mineralized Quartz-Kspar-Hematite and Quartz-Hematite
veins.
Magnetic Susceptibility Measurements
Several magnetic susceptibility measurements were taken at each outcrop and then averaged to arrive at an average
value for that outcrop. A Terraplus KT-10 Magnetic Susceptibility Meter was used to collect the data. Data output
was recorded in meters x kilogram x seconds x 10-6.
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 (TSX -V:CUU) and the
OTC Market (OTCQX-CPFXF) 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 north western 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 at [email protected] or 1-844-464-2820
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.
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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; copper
mineralization, “pipe like” positive magnetic feature s; potential targets ; and several episodes of copper
mineralization; completion of geophysical survey to map chargeability and resistivity signatures; 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, amon g other things: the geological advice that Copper Fox has
received is reliable and is based upo n 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 survey may not be complete d as planned or at all; the interpretation of the “pipe like”
features may not be accurate or as interpreted; 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 surface mineralization may
not represent porphyry of supergene mineralization or 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 o f 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.