CEO.CA Chairman's Briefing

Calgary, Alberta--(Newsfile Corp. - May 26, 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 report the final analytical results from the previously announced historical diamond drill core sampling program (see news release dated April 21, 2026). The program was designed to further define the limits of total soluble copper ("TSCu") mineralization and the mineralogical domains within the Van Dyke copper deposit. The Van Dyke in-situ copper recovery ("ISCR") project is 100%-owned by Copper Fox and is located in the Globe-Miami Mining District, Gila County, Arizona.

This news release reports analytical results for 18 drill holes, 15 of which returned intervals exceeding the TSCu cutoff of 0.025% (ASCu% + CNCu%) used in the 2020 mineral resource estimate ("MRE"). Analytical results have now been received for all 29 drill holes included in the 2026 core sampling program.

Highlights

• DDH M-2 returned a 53.80-metre core interval (272.19 m to 325.98 m) averaging 0.543% total copper ("TCu") and 0.416% TSCu, including a 34.60-metre interval averaging 0.725% TCu and 0.592% TSCu.

• DDH OXY-46 returned a 74.60-metre core interval (286.51 m to 361.19 m) averaging 0.273% TCu and 0.223% TSCu, including a 19.51-metre interval averaging 0.518% TCu and 0.453% TSCu.

• Completion of the preliminary 3D groundwater flow model for the Bloody Tanks Wash drainage basin has materially advanced the Company's understanding of the Van Dyke project hydrogeology.

• Work on the updated PEA is progressing across resource estimation, cost modelling, engineering, geotechnical, water treatment and hydrogeological studies.

• Ground water monitoring indicates water quality parameters, water level measurements, analytical results and VWP data are consistent with that observed in previous quarters.

Elmer B. Stewart, President and CEO of Copper Fox, stated, "The positive results from the drill core sampling program have expanded the limits of the total soluble copper envelope at the Van Dyke copper deposit and could influence the updated mineral resource estimate, a critical component of the revised PEA. An updated mineral resource and improved definition of the mineralogical domains are important to optimizing the underground access concept and wellfield layout in support of the proposed leach operation."

PEA Update:

Completion of the updated PEA will provide a current technical assessment of the project and evaluate potential development scenarios to support a robust business case for advancing the project to the Preliminary Feasibility Study ("PFS") stage. The PEA is assessing underground access alternatives to optimize future wellfield design and projected copper production, as well as infrastructure, water treatment, energy requirements and process design configurations, which will form the basis for estimating initial capital, operating and sustaining costs. Once completed, these inputs are expected to support updated pre-tax and post-tax economic models for the project. The PEA is also expected to identify data gaps that will help guide future programs, enhancement opportunities and inform the technical work plan and permitting strategy required to advance the Van Dyke project to the PFS stage.

Analytical Results

Of the 29 drill holes sampled in 2026, 21 returned TSCu concentrations exceeding the 0.025% cutoff used in the 2020 mineral resource estimate (see news release dated March 25, 2020). The analytical results of primary economic interest are acid soluble copper ("ASCu") and, to a lesser extent, cyanide soluble copper ("CNCu"). The analytical results and locations of the historical drill holes discussed in this news release are presented in Table 1 and Figure 1.

The weighted average grades for the mineralized intervals presented in Table 1 were calculated using a 0.025% ASCu cutoff. Intervals containing ASCu values below the cutoff over lengths of five metres or less, (including missing samples), were included in the weighted average grade calculations. CNCu weighted averages are presented for information purposes.

Table-1: Partial results of 2026 sampling of historical drillholes from Van Dyke project

  
Notes to Table-1: TCu=total copper, ASCu=acid soluble copper, CNCu=cyanide soluble copper, RESCu=residual copper, TCu=ASCu+CNCu+RESCu, TSCu=(ASCu+CNCu). All drill holes discussed are vertical (inclined at -90º dip), and each has an azimuth of zero (0º). True thickness and widths of mineralization are currently unknown.
 

Figure-1: Location map showing historical drillholes discussed in this news release.

To view an enhanced version of this graphic, please visit:
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Comments on Analytical Results

The analytical results from drill holes M-2 and OXY-46 increase drill hole sampling density and returned TSCu concentrations consistent with other previously sampled drill holes in this higher-grade portion of the Van Dyke copper deposit. Overall, the 2026 sampling program was successful in filling analytical gaps, extending low-grade TSCu mineralization at depth, and improving the definition of the Oxide, Transitional and Sulphide mineralogical domain boundaries within the Van Dyke deposit.

Hydrogeology Studies:

The preliminary groundwater flow model for the Bloody Tanks Wash drainage basin is currently in the calibration stage. Early results have significantly improved the Company's understanding of the hydrogeological controls affecting the Van Dyke project and indicate that local groundwater flow may be influenced by historical mining activity in the Miami-Globe Mining District.

Q1-2026 Ground water Monitoring:

Results for the Q1-2026 monitoring data including field water quality parameters, water level measurements and analytical results are consistent with that observed in previous quarters. VWP data showed consistent responses with past quarters, with no seasonal patterns evident. Additional monitoring locations are planned in subsequent quarters to expand the water quality dataset and improve the understanding of groundwater flow and recharge dynamics for the Van Dyke project.

Quality Control, Sampling and Analytical Procedures

Copper Fox follows a rigorous Quality Assurance/Quality Control program. The 2026 sampling program consisted of 359 samples, including 332 pulp and core samples, 18 certified reference standards and nine blanks collected from 29 historical drill holes. All drill holes are NQ diameter core. Samples taken from DDH M-2 were whole-core. The other drill hole samples were pulped ½ core.

Skyline Assayers and Laboratories Inc. (Accreditation 2953.01; ISO/IEC 17025:2017) in Tucson, Arizona, completed sample preparation and analysis. The Transitional zone of the Van Dyke deposit contains a mixture of acid soluble copper minerals (malachite, azurite and chrysocolla) and chalcocite, a secondary copper sulphide. Samples were prepared using preparation code SP-1 - crush to 75% passing 10 mesh, split and pulverize with standard steel to 95% passing 150 mesh - and analyzed using analytical code SEA-CuSEQ-Res, a sequential leach method used to determine acid soluble, cyanide soluble and residual copper.

Qualified Person

Elmer B. Stewart, MSc., P.Geol., President and CEO of Copper Fox, is the Company's non-independent Qualified Person, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed and approved 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-sized copper project 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, as well as the Sombrero Butte and Mineral Mountain advanced-stage porphyry copper exploration projects located in Arizona's prolific Laramide-age copper province. 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 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 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 applicable Canadian securities laws (collectively, "forward-looking information"). Forward-looking information is generally identifiable by the use of words such as "believes," "may," "plans," "will," "anticipates," "intends," "budgets," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, including negative variations of those terms. Forward-looking information in this news release includes statements regarding the extension of the mineralized envelope, improved definition of the Transitional and Sulphide mineral domain boundaries, the potential to increase the TSCu content of the Van Dyke deposit, the accuracy of the preliminary 3D groundwater flow model, the Company's understanding of the hydrogeology of the Van Dyke project, and the completion of resource estimation, cost modelling, engineering, geotechnical, water treatment and hydrogeological studies.

In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions, including, among other things, that the planned geometallurgical program will be completed, service providers will remain available, the geological, metallurgical, engineering, financial and economic advice received by Copper Fox is reliable and based on industry-standard practices and methodologies, and economic and market conditions will remain reasonably stable. While Copper Fox considers these assumptions to be reasonable, they are inherently subject to significant uncertainties and contingencies.

Additionally, known and unknown risk factors could cause Copper Fox's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking information contained herein. These known risk factors include, among others, that additional analysis may not extend the mineralized envelope, the potential to increase the TSCu content of the Van Dyke deposit may not be realized, the preliminary 3D groundwater flow model may prove inaccurate, the Company's interpretation of the hydrogeology of the Van Dyke project may be incomplete or inaccurate, the resource estimation, cost modelling, engineering, geotechnical, water treatment and hydrogeological studies may not be completed as planned or at all, the broader economy may deteriorate, financing may not be available on acceptable terms or at all, commodity prices and demand may fluctuate, tariffs may create uncertainty, currency exchange rates may vary, and permits and other governmental approvals may not be received on a timely basis.

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.

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