Copper Fox updates Van Dyke PEA and permanent facility in Miami, Arizona

Calgary, Alberta--(Newsfile Corp. - September 2, 2026) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") , 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 community support with a more environmentally friendly approach to advance the past-producing Van Dyke copper mine to the Prefeasibility Study (PFS) stage 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.

Figure-1: Site layout for the portal, decline, drifts, vent raise and site infrastructure for the Van Dyke ISCR project. Deposit outlined in red.

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Van Dyke Deposit The geology and mineral 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.

Figure-2: Schematic cross section showing the geology, mineral domains and soluble copper grades within the Van Dyke copper deposit.

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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).

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.

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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 ground 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.

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, water 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.

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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.

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.

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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 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 scientific 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 investor@copperfoxmetals.com 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, "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 flow 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 service 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 conditions. 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 risks 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 available 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 filings 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.

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TMX Newsfile

September 2, 2026 - 3:00 AM PDT

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