COPPER FOX REPORTS PROGRESS ON VAN DYKE’S UPDATED PEA AND ESTABLISHING PERMANENT FACILITY IN MIAMI, ARIZONA Calgary, Alberta – September 2, 202 6. Copper Fox Metals Inc. (“Copper Fox ” or the “Company”) (TSXV:CUU | OTCQX:CPFXF | FSE:HPU), through its wholly owned subsidiary
COPPER FOX REPORTS PROGRESS ON VAN DYKE’S UPDATED PEA
AND ESTABLISHING PERMANENT FACILITY IN MIAMI, ARIZONA
Calgary, Alberta – September 2, 202 6. Copper Fox Metals Inc. (“Copper Fox ” or the
“Company”) (TSXV:CUU | OTCQX:CPFXF | FSE:HPU), through its wholly owned subsidiary
Desert Fox Van Dyke Co., is pleased to provide a progress report on completion of the updated
Preliminary Economic Assessment (PEA) on its 100% owned Van Dyke in-situ copper recovery
(ISCR) project. Copper Fox is focused on leveraging existing infrastructure and c ommunity
support with a more environmentally friendly approach to advance the past-producing Van Dyke
copper mine to the Pr efeasibility Study (PFS) s tage with the objective of re -starting copper
production from this historic mine in the Globe-Miami Mining District, Gila County, Arizona.
Highlights
• Several key study components substantially defined
• The project plan uses a two-phase underground development approach
• Approximately 4,900 metres (m) of underground development
• Roadheader for excavation is expected to improve safety and ground stability
• The leach schedule prioritizes higher-grade panels early
• Surface infrastructure location established
• Groundwater flow model completed, additional modelling in progress
• Progressing acquisition of permanent office, core storage, and sampling facility
Elmer B. Stewart, President and CEO of Copper Fox, stated, “Completion of these front -end
activities enables the PEA team to move toward finalizing key operating and cost components
for the updated PEA. Trade-off studies focused on improving operational efficiency have been
completed for each phase of the project and are being used to optimize the projected pre- and
post-tax economic models using updated copper prices.”
Overview
The technical studies completed since 2021 resulted in several significant changes to the
planned development of the Van Dyke deposit including mechanical (roadheader) excavation of
the underground workings. The updated general layout for the portal, decline drifts, vent raise
and site infrastructure phases for the Van Dyke project are shown in Figure-1.
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Figure-1: Site layout for the portal, decline, drifts, vent raise and site infrastructure for the Van Dyke ISCR project.
Deposit outlined in red.
Van Dyke Deposit
The geology and miner al domains within the Van Dyke deposit are shown in Figure -2. The
mineralization occurs in fractures, breccia, quartz veins and along cleavage planes primarily in
the Pinal Schist and to a lesser extent in porphyritic dykes and Intrusive breccias related to the
Schultz granite. The deposit is covered by a Leach Cap and a thick layer of Gila Conglomerate.
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Figure-2: Schematic cross section showing the geology, mineral domains and soluble copper grades within the
Van Dyke copper deposit.
The updated PEA is focused on the Oxide and Transitional zones, the two zones of economic
interest in the Van Dyke deposit. The deposit exhibits four mineralogical domains that occur in
order of depth; Leach Cap (mixed clay, limonite, hematite, jarosite) underlain by the Oxide zone
(malachite, chrysocolla, azurite, cuprite and tenorite), beneath the Oxide zone there exists a
weakly developed Transitional zone (mainly chalcocite with sparse malachite, azurite and
chrysocolla) that transitions at depth into local zones of poorly defined hypogene chalcopyrite-
pyrite-molybdenite mineralization (i.e. the Sulphide zone).
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Underground Development
The major components of the underground development and infrastructure to support future
leaching operations of the Van Dyke deposit are shown in Figure-3.
Figure-3: Proposed underground excavations and infrastructure for updated PEA on the Van Dyke ISCR copper
project. Green line=decline, red line=Phase I, blue line=Phase II, small black lines=proposed gallery locations.
A two-phase approach totaling approximately 4,900m of underground development in the Gila
Conglomerate is planned. The use of a roadheader is expected to eliminate the noxious gases
typically associated with traditional drill and blast excavation techniques and maintain the
geotechnical mechanical integrity of the Gila Conglomerate. Additional g round support to
maintain geotechnical strength of the underground workings consists of two layers of shotcrete
and Swellex rock bolts.
Phase I, (years 1 -6) calls for excavating in the Gila Conglomerate a (5.8m x 5.8xm) 1,712m
decline to a level that is approximately 50m above the Gila/Leach Cap contact followed by
excavation of the 5.8m x 5.8m Phase I drift and 6.2m x 5.8m galleries totalling approximately
2,800m to accommodate installation of an egress/ventilation raise and Phase I wellfield for
leaching the deposit located below the underground workings . Phase I covers a higher -grade
portion of the deposit and is expected to increase copper production in the early years of mine
life and accelerate capital cost recovery.
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Phase II , (years 7 -17) development totalling approximately 1,310m accesses a lower -grade
portion of the deposit. The Phase II drift and galleries will be completed prior to installation of
the wellfield for leaching purposes.
Infrastructure
The preliminary general layout of the site infrastructure shown in Figure -4, includes early
installation of a “drop-down” power sub -station from an existing nearby high voltage line ,
establishing a mine dry, workshop, and office to facilitate establishing the portal and excavation
of the decline, drifts and galleries. Other infrastructure requirements that would be subject to
permit conditions include tankage for retention and neutralization/treatment of discharge water
from excavation activities. It is estimated that during excavation activities, w ater requirements
would be in the order of +/-10,000 gallons/day.
Figure-4: Preliminary proposed infrastructure layout for updated PEA on the Van Dyke ISCR project.
Installation of the SX-EW facilities and Phase I water treatment facilities are planned later in the
project development schedule. Phase II expansion of the water treatment facility is planned 3-
4 years after the start of leaching operations.
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Leach Plan
The proposed leach schedule contemplates a two-phase approach allowing early access to the
higher-grade portions of the deposit. The leach panels and proposed leach schedule are shown
in Figure- 5.
Figure-5: Proposed underground layout, galleries and leach panels for updated PEA on the Van Dyke ISCR copper
project. Leach panel designated by color, arrows designate direction of leaching progression, orange arrows=Phase
I, blue arrows=start of Phase II, pink arrows=end of Phase II. Notation P1-1=Phase I, leach panel #1.
Phase I (years 1 -6) focuses on production from the higher-grade portions and Phase II (years
7-17) focuses on the lower-grade portion of the deposit. The leaching plan contemplates
commencing leaching operations in Panel P1-1 continuing to P1 -6 followed by Panel P2 -4
(higher-grade mineralization) progressing to outward to P2-1. P2-5 through P2-7 covering a
lower-grade portion of the deposit are scheduled toward the end of mine life. Leaching of each
panel is expected to take five years followed by one year of rinsing subject to copper content of
the rinse solution and permitting requirements.
Groundwater Flow Model
The Phase I numerical groundwater flow model has been constructed and successfully
calibrated. Model calibration utilized both steady -state and transient methods to simulate the
dynamic groundwater regimes in the project area. The groundwater flow model for the project
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significantly expands the understanding of the hydrogeologic characteristics and regional
hydrogeological controls. The rigorous calibration applied to the model demonstrates the
veracity of the model for future simulations in sufficient detail to better understand the hydrology
of the Van Dyke deposit area. In addition to predictive modeling of the Van Dyke deposit, the
model is expected to identify gaps in the hydrological/water monitoring grid coverage and
evaluate hydrologic interaction between the Pinal Schist, the Van Dyke Resource and the Gila
Conglomerate.
Purchase of Facility
Copper Fox has entered discussions to purchase its current office and core storage facility
located in Miami, Arizona. The purchase price is US$290,000. The facility comprises an office,
core preparation facility, an outbuilding and approximately 0.86 acres of land. The purchase is
expected to close in September 2026, subject to normal closing conditions and adjustments.
Qualified Person
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 scienti fic and technical
information disclosed in this news release.
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: Lynn Ball 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.
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,
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“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 similar expressions, and the negative of such expressions.
Forward-looking information in this news release includes, but is not limited to, statements
regarding the completion, timing and results of the updated PEA; the proposed underground
excavation plan, leach plan, leach schedule and panel sequencing; the projected development
phases and mine life; the expected benefits of roadheader excavation; anticipated infrastructure
requirements and layout; groundwater flo w modelling and future simulations; permitting
requirements; the potential advancement of the Van Dyke project to the PFS stage; and the
Company’s objective of restarting copper production from the Van Dyke 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:
completing the planned geometallurgical program; the availability of ser vice providers; the
geological, metallurgical, engineering, 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 conditio ns. 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. Forward-looking information is subject to known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements to differ materially
from those expressed or implied by such forward -looking information. These ri sks include,
among others, the risk that the updated PEA may not be completed as planned or at all; that the
proposed underground excavation plan, infrastructure layout, leach schedule, groundwater
model or development approach may change as additional technical work is completed; that
mineralized zones, metallurgical recoveries, hydrogeological conditions or operating parameters
may differ from current expectations; that capital and operating costs may increase; that required
permits, approvals, financing, equipment, contractors or personnel may not be availabl e when
required or on acceptable terms; that commodity prices, currency exchange rates, tariffs,
inflation, supply chains or general economic conditions may adversely affect the project; and
other risks described in the Company’s continuous disclosure fili ngs available under Copper
Fox’s profile at www.sedarplus.ca.
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. 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. All forward-looking information contained in this news release is expressly
qualified by this cautionary statement. Readers are cautioned not to place undue reliance on
forward-looking information. All forward-looking information herein is qualified in its entirety by
this cautionary statement.