Fox Tungsten Ltd. · TSXV:FOXT
Fox Tungsten — Investor Presentation (September 2026)
20 slides from Fox Tungsten's investor presentation, September 2026
Slide 1: Fox Tungsten
= FOX” ae Se TUNGSTEN i i 4 Li
Slide 2: Forward Looking Statement
Forward Looking Statement 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 presentation. This presentation may contain statements and projections suc
Slide 3: Fox Project, British Columbia, Canada
TSX.V: ox Beer sie ss GP OTC: AE geal s 3 he _, Drill Rig #3 | FOXT i Pat § "y . ? uae ‘ * & e AL it. oi te ; < € s 4 { 4 FOX PROJECT BRITISH COLUMBIA, CANADA
Slide 4: Fox Tungsten Project Overview
Fox Tungsten Project Overview Located in Central British Columbia Close to Roads and Power High-Grade Resource One of the highest-grade tungsten deposits in the world District-scale project has multiple zones open to Exploration Potential expansion Prime Location Close to roads and power in a mining
Slide 5: Located in the Cariboo Region of British Columbia
Located in the Cariboo Region of British Columbia Easy Access to Infrastructure, With Roads and a Power Line on the Property Fox Resource Area Camp Prince George Fox Tungsten Powerline 100 Mile House Kamloops Road Kelowna Vancouver 100 Mile House 5
Slide 6: Gaps Between Resource Zones Were Untested
Gaps Between Resource Zones Were Untested Historic Drilling Focused On Low-Lying Areas Near Mineralized Outcrop Fox Project Long Section Looking West South North UNTESTED UNTESTED 2018 Resource Area 6
Slide 7: 2026 Drill Program Underway
2026 Drill Program Underway Fully-funded 20,000m program has three main objectives: 1. Fox Resource Growth: 60% of drilling 2. Fox Exploration: 30% of drilling 3. Silverboss Exploration: 10% of drilling 7
Slide 8: New Discovery at Fox North
New Discovery at Fox North Multiple Zones of Visible Scheelite West of BK Zone 8
Slide 9: 20,000 m Drill Program to Support a PEA
20,000 m Drill Program to Support a PEA Clear Path to Value Creation and Project Advancement 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 20,000 m Drill Program Raised C$12.7M Resource Update Preliminary Economic Assessment 9
Slide 10: About Tungsten
| eens) About Tungsten _ = = : 10
Slide 11: Uses of Tungsten
Uses of Tungsten Uniquely Hard and Dense Metal With Industrial and Military Uses Industrial and Tungsten carbide, a compound of tungsten and carbon, Manufacturing is widely used for cutting tools, drilling equipment, mining machinery, and wear-resistant parts due to its extreme hardness and heat res
Slide 12: China Produces 80% of Global Tungsten
China Produces 80% of Global Tungsten There Are No Operating Tungsten Mines in North America 2025 Tungsten Production by Country Tonnes China 67,000 Vietnam 3,000 Kazakhstan 2400 Russia 2,000 North Korea 2,000 Bolivia 1,700 Rwanda 1,300 Australia 1,000 Austria 840 Spain 800 Portugal 700 USA 0 No Ope
Slide 13: Tungsten Price Up 10x Since the Start of 2025
Tungsten Price Up 10x Since the Start of 2025 Growing Tensions With China Have Destabilized the Tungsten Market Tungsten Price APT, USD per MTU1 3500 3000 2500 2000 +$2,710 1500 Since Jan 1, 2025 1000 500 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Scheelite, a Tungsten min
Slide 14: Regional Projects
Regional Projects 14
Slide 15: Strategic Land Package in the Cariboo Region
Strategic Land Package in the Cariboo Region 100% - Owned Projects with Tungsten, Copper, Molybdenum, Gold, and Silver Targets • Large contiguous land position with over 370 km2 of mineral claims • All projects are permitted for drilling • Fox Tungsten Project – One of highest-grade tungsten project
Slide 16: Silverboss Project
Silverboss Project Copper, Molybdenum, Gold, Silver Targets • Drill-ready project surrounding Glencore’s closed Boss Mountain molybdenum mine site • Boss Mountain produced ~15,000 tonnes of molybdenum from 1963 to 1983 • Numerous targets with only 5 historic holes • Silverboss Shaft, Dogtooth and Ho
Slide 17: Highland Valley Project Sold to Metal Energy
Highland Valley Project Sold to Metal Energy • Fox Tungsten sold the Highland Valley project to Metal Energy (TSX.V MERG) in October 2024 to focus on the high-grade Fox Tungsten project Teck - Highland • On closing Fox Tungsten received: Valley • $300k cash Copper • 2.5% NSR royalty • 2.3M shares in
Slide 18: Fox Tungsten Corporate Overview
Fox Tungsten Corporate Overview Capital Structure Share Price (Sept 24, 2026) C$/sh $0.19 Basic Shares Outstanding M 274.9 Basic Market Capitalization C$M $52.2 Warrants (avg. exercise price $0.14) M 72.6 Options (avg. exercise price $0.07) M 10.5 Fully Diluted Shares M 357.9 Management and Board of
Slide 19: 20,000 m Drill Program Will Support a PEA in 2027
20,000 m Drill Program Will Support a PEA in 2027 Clear Path to Value Creation and Project Advancement 2026 2027 Q1 Q2 Q3 Q4 Q1 Q2 20,000 m Drill Program Raised C$12.7M Resource Update Preliminary Economic Assessment 19
Slide 20: info@foxtungsten.com www.foxtungsten.com
416-898-7247 info@foxtungsten.com www.foxtungsten.com
Fox Tungsten — Investor Presentation (September 2026) on 6ix