Copper Fox Announces Positive Results from Schaft Creek Metallurgical Program and an Update on 2026 Program

About this update from Copper Fox Metals Inc.

Copper Fox Announces Positive Results from Schaft Creek Metallurgical Program and an Update on 2026 ProgramCalgary, Alberta--(Newsfile Corp. - July 2, 2026) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") is pleased to announce positive results from the continuing metallurgical program and a progress report on the 2026 Schaft Creek program. The metallurgical update discusses results of mineralogical characterization, comminution, bulk flotation, and locked cycle portions of the metallurgical program and plans for further metallurgical investigations. The Schaft Creek project is managed through the Schaft Creek Joint Venture ("SCJV"). Teck Resources Limited ("Teck") is the operator of the SCJV and holds a 75% interest with Copper Fox holding the remaining 25% interest. The Schaft Creek deposit, located in northwestern British Columbia, is one of the largest undeveloped porphyry copper deposits in North America that contains significant gold-molybdenum-silver by-products. Elmer B. Stewart, President and CEO of Copper Fox, stated, "The positive results from the metallurgical testwork demonstrate comparable metal recoveries at a coarser grind size. Additional studies are recommended to further optimize metallurgical performance related to mill throughput, metal production, and energy consumption, and will be evaluated as the project advances toward the Pre-Feasibility Study stage."Metallurgical Testwork HighlightsOpen circuit cleaner flotation tests indicate slightly lower copper and silver recoveries at a coarser primary grind of P80 161-210 μm, compared to a finer grind of P80 140-160 μm. The recovery of molybdenum and gold appears unaffected at the coarser grind size up to 210 μm.Copper recovery to the rougher floatation concentrate shows significant variability across feed grades ranging from 0.1 to 0.4% Cu.Chalcopyrite is the dominant copper sulphide mineral, with minor amounts of bornite and chalcocite. Pyrite content ranges from zero to 7.6%, with an average of approximately 0.4%.Liberation of copper-bearing minerals at the grind size of 80% passing 220 μm is 46%, slightly lower than the 47% at 152 μm.The mineralization is classified as hard to very hard based on Abrasion index and Bond Ball Work index ("BWi") indices.The higher ore hardness values may require i...

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