Copper Fox Provides Update ON Sombrero Butte Copper Project
COPPER FOX PROVIDES UPDATE ON SOMBRERO BUTTE COPPER PROJECT
Calgary, Alberta– February 6, 2024. Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSXV:CUU
– OTCQX:CPFXF) and its 100% owned subsidiary, Desert Fox Copper Inc. (“Desert Fox”), are pleased to provide
an update of activities including results of the hyperspectral survey for its 100% owned Sombrero Butte copper
project. The Sombrero Butte project is located approximately 3 kilometers south of the Copper Creek porphyry
copper deposit in the historic Bunker Hill Mining District in Arizona.
The Full Spectrum Hyperspectral Survey covered the entire Sombrero Butte project and collected continuous Visual
and Near Infrared (“VNIR”), Shorth Wave Infrared (“SWIR”) and Long Wave Infrared (“LWIR”) data. The survey
was completed to map the distribution of alteration patterns exposed in outcrop across the project.
Highlights include:
• The SWIR anomalies exhibit a strong correlation to known breccias and has identified numerous other
anomalous signatures interpreted to represent breccia pipes.
• Three areas have been identified that exhibit a crude circular pattern of illite-sericite that correlates with
previously identified magnetic and radiometric anomalies suggestive of a porphyry system.
• The LWIR data identified one zone interpreted to represent argillic alteration , one zone interpreted to
represent silica alteration.
• The anomalous areas outlined by the hyperspectral survey exhibit a strong correlation to the late stage
intrusives identified by the 2022 airborne magnetic survey.
• The survey identified alteration in the Copper Creek granodiorite, the host rock to target #2 located in the
center of the property . Target #2 is characterized by a chargeability/resistivity signature, alteration,
porphyry style mineralization and mineralized breccia pipes suggestive of a porphyry copper system.
• Detailed relogging of drill core from two historical drillholes has been completed, along with sampling for
petrographic study and whole rock geochemical analyses.
Elmer B. Stewart, President & CEO of Copper Fox commented “The hyperspectral survey suggests that the phyllic
and argillic alteration signatures at Sombrero Butte are more widespread than previously known. These recently
identified anomalous are as correlate with airborne magnetic and radiometric anomalies indicative of a porphyry
copper system and suggest the presence of a significant number of potential breccia pipes, an indicator of a potential
buried porphyry copper system. The relogging program was undertaken to map the intensity and mineralogical
changes in these holes as a guide to the possible location of the porphyry center”.
Drill Core Relogging
DDH SB-03 and DDH SB-23 are the deepest holes completed on the property and were relogged and sampled for
both petrographic studies and whole rock geochemical analyses. In addition to collecting lithology, alteration and
textural data, magnetic susceptibilities, and the density of mineralized structures/meter were recorded to determine
if sampling of the core in DDH SB-23 for analytical purposes is warranted.
DDH SB-03 was drilled to the northeast towards the chargeability anomaly referred to as target #1 on the Sombrero
Butte project. This drillhole intersected intervals of strong to moderate chalcopyrite +/- bornite in veins and veinlets
in the Copper Creek granodiorite commonly associated with pervasive K-feldspar flooding in the core interval from
492 to 578 meters (“m”). Of interest is the absence of pyrite and molybdenite in this drillhole. The interval from
492 to 578 m returned a weighted average of 1,414 parts per million (“ ppm”) (0.14%) copper and 30 ppm
molybdenum over the 86 m core interval with individual sample intervals up to 0.64% copper and 190 ppm
molybdenum.
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DDH SB-23 was a vertical hole drilled to a depth of 1230.7 m. The interval from 524 to 1230.7 m (end of the hole)
intersected the Copper Creek granodiorite and was not sampled despite the presence of intervals of disseminated
and stockwork veinlets of quartz + K-feldspar + chalcopyrite +/- bornite and pyrite. Molybdenite was observed to
occur along fractures within this interval. Mapping the changes in mineral species from dominantly copper
sulphides (chalcopyrite +/-bornite +/- pyrite) to primarily iron sulphides (pyrite +/- chalcopyrite +/- bornite) could
be used as a vector to the copper shell of the porphyry system.
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) 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 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Cre ek
copper-gold-molybdenum-silver project located in northwestern British Columbia and the 100% ownership of the
Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox’s other 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 (844) 464-2820 or (403) 264-2820, [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 identifiable by use of the words
“believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “budgets,” “could,” “estimates,” “expects,” “forecasts”, “projects”
and simila r expressions, and the negative of such expressions. Forward-looking information in this news release includes
statements regarding; SWIR anomalies exhibit ing a strong correlation to known breccias and identifying numerous other
anomalous signatures interpreted to represent breccia pipes; three areas have been identified that exhibit a crude circular pattern
of illite-sericite that correlates with previously identified magnetic and radiometric anomalies suggestive of a porphyry system;
LWIR data identifying one zone interpreted to represent argillic alteration and one interpreted to represent silica alteration ;
anomalous areas outlined exhibit a strong correlation to the late stage intrusives identified by the 2022 airborne magnetic
survey; target #2 is characterized by a chargeability/resistivity signature, alteration, porphyry style mineralization and
mineralized breccia pipes suggestive of a porphyry copper system.
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 consistent 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 anomalies may not be indicative
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of a porphyry copper system ; mapping the changes in mineral species may not be used as a vector to the copper shell of the
porphyry system ; the geology, continuity and concentration of the mineralization; the financial markets and the overall
economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones;
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.