Copper Fox Metals Inc. · TSXV:CUU
Copper Fox Metals — Investor Presentation (December 2025)
27 slides from Copper Fox Metals's investor presentation, December 2025
Slide 1: Creating Value in the Copper Space in North America
Creating Value in the Copper Space in North America 1 December 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This Power Point presentation contains certain 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 securiti
Slide 3: Capital Structure, Management & Directors
Capital Structure, Management & Directors Capital Structure Ownership Market Capitalization (M) C$228.0 Shares Outstanding (M) 581.6 40.7% Warrants (M) Nil 59.3% Fully Diluted Shares (M) 581.6 59.8% Insider Ownership 344.7 Cash (M) C$0.4 Insiders Retail Debt Nil Management Elmer B. Stewart, MSc., P.
Slide 4: Copper Outlook
Copper Outlook Copper is essential for transitioning to a low-carbon economy and powering AI technologies Annual Copper supply needs to increase from 27Mt to 43Mt by 2035 (1) Price Volatility ➢Global economic uncertainty ➢Supply Disruption ➢World Growth – Asia and India Industrialization Demand Fact
Slide 5: Company Overview
Company Overview ➢ Copper exploration/development company, focused on large, low-cost, long-life porphyry copper projects in proven mineral districts in Canada and the United States ➢ Joint venture with Teck Resources Limited (75%) on the Schaft Creek project ➢ Preliminary economic assessments (PEAs
Slide 6: Project Portfolio & Mineral Resources
Project Portfolio & Mineral Resources Schaft Creek (25%) Advanced Stage porphyry Cu-Mo-Au-Ag project located 60 km south of Telegraph Creek, British Columbia. Van Dyke (100%) Advanced Stage in-situ copper recovery (ISCR) project located in Miami-Globe Mining District, Arizona Eaglehead (100%) Resour
Slide 7: Schaft Creek Joint Venture Project
Schaft Creek Joint Venture Project ➢ Teck Resources Limited 75% & Operator – Copper Fox 25% ➢ 2025 objective; advance project to PFS stage ➢ 2025 budget C$15.8M ➢ Teck investment of C$98M (2013 -2024) ➢ Covers one of the largest undeveloped porphyry copper deposits in North America ➢ Robust project
Slide 8: Schaft Creek 2025 Program
Schaft Creek 2025 Program Objective – Advance the project from the Scoping to the PFS stage - planned expenditures of C$15.8M ➢ Focused on two key infrastructure components ➢ Five diamond drillholes completed, four of which intersected variable intervals of discontinuous copper mineralization, analy
Slide 9: 2021-2024 Drill Programs
2021-2024 Drill Programs 2021 - 2025 programs designed to investigate project enhancements identified in the 2021 PEA ➢ 2021 - 2022 geometallurgical drillholes to: • Better define geometallurgical domains • Collect samples for laboratory testwork • Enhance metallurgical performance • Increase metal
Slide 10: Schaft Creek Economics
Schaft Creek Economics Base Case 2021 PEA Metal price sensitivities 2012 2021 Production and Cost Summary Units FS PEA with all other PEA parameters remaining constant (Current LT metal price (US$) Mine Life years 21 21 Cu 4.50/lb, Au 3,350 /oz, Mo 22.50/lb Ag 38.00/oz) CuEq Metal Production LOM B/l
Slide 11: Schaft Creek Joint Venture – Key Terms
Schaft Creek Joint Venture – Key Terms ➢ Teck Resources Limited 75% & Operator - Copper Fox 25% ➢ Copper Fox to receive C$60M in Milestone Payments First C$20M payment on Signing the SCJV Agreement (received) Second C$20M payment on Sanctioning Decision Third C$20M payment on Completion of Construct
Slide 12: Van Dyke Copper Project
Van Dyke Copper Project ➢ Objective: re-start copper production from historic Van Dyke deposit using responsible mining technologies, practices and utilizing ISCR methodology ➢ Brownfield project - 100% owned subject to NSR ➢ Potential near term, mid-size, sustainable, environmentally friendly coppe
Slide 13: In-Situ Copper Recovery (ISCR)
In-Situ Copper Recovery (ISCR) ISCR Advantages – it’s not mining! Van Dyke ISCR Advantages ➢ Leaching, not mining, rock stays in place ➢ Wellfield constructed underground, reduces ➢ No open pit or tailings environmental and social impact ➢ Lower energy consumption – 65% less ➢ Underground workings b
Slide 14: Van Dyke 2025 Program
Van Dyke 2025 Program ➢ Advancing updated PEA to determine project status incorporating numerous technical studies completed since 2021 ➢ Assembled Project Team with “hands on” ISCR experience in Arizona ➢ Execution Plan to advance to prefeasibility study (PFS) stage completed; estimated cost for th
Slide 15: Van Dyke Economics
Van Dyke Economics 2015 2020 Base Case 2020 PEA metal price sensitivity Production and Cost Summary Units PEA PEA with all other PEA parameters remaining constant Mine Life years 11 17 (Current LT copper price US$4.50) Copper Production Mlbs 456.9 1,101.0 Copper Price US$/lb 3.00 3.15 Metal Price (U
Slide 16: Van Dyke Mineral Resource Estimate
Van Dyke Mineral Resource Estimate KTonnes TCu ASCu CNCu Recovery Soluble Cu Total Cu Class Rec Cu (%) (000) (%) (%) (%) (%) (Mlbs) (Mlbs) Indicated 97,637 0.24 0.33 0.23 0.04 90 517 717 Inferred 168,026 0.19 0.27 0.17 0.04 90 699 1,007 NI-43-101 Technical Report and Updated Resource Estimate for th
Slide 17: Van Dyke Mineralization and Zonation
Van Dyke Mineralization and Zonation Domain Description Block Model Variable concentrations of clays and iron-oxides (limonite-hematite- Leached goethite) and jarosite - trace copper oxide minerals. Typically, less ➢ Based on 5,163 sequential copper analyses than 200ppm total copper (TCu). (TCu, ASC
Slide 18: Deposit Outline and Resource Potential
Deposit Outline and Resource Potential 18
Slide 19: Van Dyke Copper Mineralization
Van Dyke Copper Mineralization DDH VD14-04 6.57% AsCu 466.50m – 468.05m DDH VD14-06 3.29% AsCu 270.05m – 272.58m Malachite, azurite and chrysocolla Malachite and chrysocolla in Pinal Schist DDH M-3 294.5m DDH OXY-47A 354.3m Malachite, azurite and chrysocolla in fractured Pinal Schist Quartz - Malach
Slide 20: Proposed Underground Development
Proposed Underground Development ➢ Establish undergrounds workings in the Gila Conglomerate approximately 50 - 100m above the leach cap ➢ Roughly 190,000 m3 of waste rock extracted LOM ➢ Minimal inflow of H2O during pre-production expected ➢ Geotechnical study determined • Use of road header - not c
Slide 21: Proposed Wellfield Layout
Proposed Wellfield Layout 3D view looking north ➢Phase I (blue line) in higher grade portion of deposit (years 1-7) ➢Phase II (red line) in lower grade portion of deposit (years 8-17) ➢Injection and recovery wells (yellow & teal lines) ➢Observation and perimeter monitoring wells not shown ➢Inclined
Slide 22: Potential Socio-Economic Benefit
Potential Socio-Economic Benefit Copper mineralization 396 m level Van Dyke mine ➢ Mine life of 17 years with potential extension to 21 years and beyond ➢ Significant tax base/job creation for Miami and surrounding area Direct jobs – 134 Indirect jobs – 402 ➢ Total operating costs of US$1.07B, a lar
Slide 23: Eaglehead Project
Eaglehead Project Resource NSR Cutoff Tonnage NSR CuEq Cu Mo Au Ag NSR CuEq Cu Mo Au Ag Category (C$/tonne) (kt) (C$/tonne) % % % gpt gpt C$M Mlb Mlb Mlb koz koz 5 71,971 24.42 0.322 0.219 0.0107 0.060 0.9 1,758 510 347 17.0 139.8 2,159 Indicated 5.5 70,810 24.74 0.326 0.221 0.0108 0.061 0.9 1,752 5
Slide 24: Eaglehead Expanded Chargeability Target
Eaglehead Expanded Chargeability Target ➢ Strong spatial correlation to porphyry mineralization ➢ Anomalous zone of chargeability (7mv/s) 4,000m long, open-ended, northwest trending ➢ Anomalous chargeability extends approximately 2,000m down dip to the north ➢ Substantial increase in potential size
Slide 25: Sombrero Butte Project
Sombrero Butte Project ➢ Drill ready Laramide age porphyry copper target ➢ 3km south of Copper Creek Copper Creek Project 1 porphyry copper deposit 2023 pit outlines ➢ Multiple high-grade breccia pipes, i.e. DDH SB-07-14 San Manuel/ Kalamazoo intersected 1.16% Cu over an Sombrero Butte Project 86m c
Slide 26: Mineral Mountain Project
Mineral Mountain Project ➢ Drill ready - Laramide age (67.4 Ma) porphyry copper target ➢ Maiden 2,000m drill program in progress ➢ Located in the Santa Cruz to Globe-Miami porphyry copper belt ➢ 4,500m by 2,000m porphyry footprint ➢ 3,200m long by 1,200m wide (open-ended) chargeability signature >18
Slide 27: Corporate Information
Corporate Information Corporate Office Desert Fox Office Suite 650, 340 – 12 Ave SW 3445 E Highway 60 Calgary, AB T2R 1L5 Miami, AZ 85539-1353 Canada USA Investor Relations 1-844-464-2820 or 1-403-264-2820 investor@copperfoxmetals.com www.copperfoxmetals.com 27
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