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Newversiondddradrfdraftdtd Copper Fox Announces Waiver of Accelerated Expiry Date FOR Warrants

Share Capital & Compensation

NEWVERSIONDDDRADRFDRAFTDTD

COPPER FOX ANNOUNCES WAIVER OF

ACCELERATED EXPIRY DATE FOR WARRANTS

Calgary, Alberta – July 2 3, 2020 - Copper Fox Metals Inc. (“Copper Fox” or the

“Company”) (TSX-V: CUU) announces, further to the Company’s news release dated July 22,

2020, regarding an automatic acceleration of the expiry date (the “Expiry Date”) for the warrants

issued on March 30, 2020 a nd April 27, 2020 (the “Warrants”) as part of the Company’s most

recent non-brokered private placement , due to the Company’s projects being fully funded

throughout 2020 , the Company has decided to waive the acceleration of the Expiry Date .

Accordingly, the Expiry Date shall remain as stated in each applicable warrant certificate.

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 Sta tes 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 Creek copper-gold-molybdenum-

silver project located in northwestern British Columb ia and a 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

http://www.copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart

President and Chief Executive Officer

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy o r accuracy of this

release.

For additional information contact:

Copper Fox Metals Inc.

Lynn Ball: [email protected]

(844) 464-2820 or (403) 264-2820

www.copperfoxmetals.com