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Calgary, Alberta--(Newsfile Corp. - October 19, 2026) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") is pleased to provide an update on activities at the Schaft Creek project over the past three months. The Schaft Creek project is managed through the Schaft Creek Joint Venture ("SCJV"). Teck Resources Limited is Operator of SCJV and holds a 75% interest with Copper Fox holding the remaining 25% interest. The Schaft Creek project, located in northwestern British Columbia, is one of the largest undeveloped porphyry copper deposits in North America that contains significant recoverable gold-molybdenum-silver by-products.

The 2026 program, budgeted at C$9.1 million is focused on furthering technical investigations, project studies and data collection on key project parameters.

Highlights:

• Advancing metallurgical testwork including coarse particle flotation and comminution studies,
• Continued collection of environmental baseline data,
• Initiating an Access Road Trade-Off Study,
• Upgraded camp and infrastructure facilities to support future field programs.

Elmer B. Stewart, President, and CEO of Copper Fox, stated, "SCJV continues to advance a broad, integrated technical program designed to reduce key development risks and advance the Schaft Creek project toward a prefeasibility-level assessment. These activities incorporate several interdependent project components including mineral processing and performance, water management, tailings, road access, environmental baseline information, and field infrastructure to support future programs. Collectively, these activities are intended to improve the quality of the project database, narrow technical uncertainties, support future engineering and permitting decisions, and establish the foundation required to move the Schaft Creek project toward a prefeasibility study."

Activities Highlights:

Metallurgical optimization: The metallurgical program continues to evaluate coarse-particle flotation, hydrometallurgical processing, high-pressure grinding roll crushing, ore hardness variability, flotation, mill throughput, and gold deportment. Additional testing includes; rougher flotation tests, open-circuit tests and locked-cycle tests to better define metal recoveries, optimal grind size, reagent requirements, energy consumption, and processing performance across different zones in the deposit.

Mineralogical characterization: Core-scanning testing using various core scanning technologies is in progress and intended to improve understanding of mineralogical variability across the Schaft Creek project.

Environmental: Environmental baseline work includes continued hydrogeology, meteorology and water sampling data collection at existing sites on the Schaft Creek project as well as review of historical data with emphasis on suitability for future work.

Water, tailings, and access: SCJV has initiated work on tailings, water-balance, hydrogeological, and geochemical studies. Work continues on identifying potential access road alignments.

Site facilities: Upgrades to the field camp and infrastructure improvements have been completed to support future field programs.

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 of Disclosure for Mineral Projects, has reviewed 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

Neither 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 information" within the meaning of the Canadian securities laws. Forward-looking information is generally 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 statements regarding metallurgical program testing and optimization; water, tailings and other environmental baseline activities, including sample collection and historic data review; an Access Road Trade-Off Study; and upgrades to camp and infrastructure facilities to support future field programs.

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: 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. 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. Known risk factors include, among others: metallurgical program testing and optimization may not be completed as planned or at all; water, tailings and other environmental baseline activities, including sample collection and historic data review may not be continued as planned or at all; the Access Road Trade-Off Study may not be completed as planned or at all; and future field programs may not be completed as planned or at all.

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. All forward-looking information herein is qualified in its entirety by this cautionary statement, and 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319554