Copper Fox Announces 2025 Year-End Operating and Financial Results and Update

Rhea-AI Summary

Copper Fox (OTCQX: CPFXF) filed audited consolidated financials for year ended October 31, 2025, reporting a net loss of $1,071,237 (2024: $607,303) and spending $1,951,216 on project development and exploration. Cash was $686,236 at year-end and $129,927 as of this release. Key project advances include Van Dyke PFS planning, Schaft Creek drilling and C$15.8M 2025 program, and maiden porphyry drilling at Mineral Mountain.

Positive

• Spent $1.95M on advancing Schaft Creek, Van Dyke and exploration in 2025
• Completed C$15.8M Schaft Creek program advancing readiness for PFS
• Van Dyke progressed with geometallurgical modelling and a PFS Execution Plan
• Maiden drilling at Mineral Mountain testing a large porphyry copper target

Negative

• Net loss increased to $1.07M in 2025 from $607K in 2024 (~76% increase)
• Cash fell to $686K at Oct 31, 2025 and to $129,927 by this release date
• Copper Fox faces pro rata cost exposure of ~C$7.5M deducted from third Schaft Creek milestone

Calgary, Alberta--(Newsfile Corp. - February 4, 2026) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") announces that its audited annual consolidated October 31, 2025, financial statements have been filed on SEDAR+. For the year ended October 31, 2025, Copper Fox had a net loss of $1,071,237 (October 31, 2024 - $607,303) which equated to $0.00 loss per share (October 31, 2024 - $0.00 loss per share).

During the year ended October 31, 2025, the Company incurred $1,951,216 in expenditures toward furthering the development of its Schaft Creek and Van Dyke copper projects and further exploration of its Eaglehead, Sombrero Butte and Mineral Mountain copper projects. Copies of the financial statements, notes, and related management discussion and analysis may be obtained on SEDAR+ at www.sedarplus.ca, the Company's web site at www.copperfoxmetals.com or by contacting the Company directly. All references to planned activities and technical information contained in this news release have been previously announced by way of news releases. All amounts are expressed in Canadian dollars unless otherwise stated.

Elmer B. Stewart, President and CEO of Copper Fox, stated, "The increased demand for critical metals combined with the significant increase in the price of copper-gold-molybdenum-silver are providing the basis to position Copper Fox to become a supplier of advanced stage critical mineral projects to the mining industry. During the year, significant progress at Van Dyke and Schaft Creek continued to advance these projects toward the prefeasibility (PFS) stage. In addition, our "maiden" drill program at Mineral Mountain is testing the porphyry potential of this high-quality target, and exploration activities has significantly upgraded the porphyry potential of the Sombrero Butte and Eaglehead porphyry copper projects."

2025 Highlights

• At Van Dyke announced the results of geometallurgical modelling and completion of the PFS Execution Plan outlining future activities, timeline, and estimated costs to advance the project to the PFS stage.
• At Schaft Creek provided an update on the 2025 drilling, wildlife, aquatic and archeological surveys, community engagement and preliminary comments and the addition of Coarse Particle Flotation testing to the geometallurgical testwork program.
• At Eaglehead announced results of the geophysical survey along the northern portion of the "mineralized corridor".
• At Mineral Mountain announced the identification of new porphyry copper target and the commencement of drilling activities to drill the large porphyry copper target located in the center of the project.

Subsequent to the Year Ended

• Announced the results of merging the chargeability and resistivity data from the geophysical surveys completed on the Eaglehead porphyry copper project between 2014 and 2025.
• Announced an update on the strategy and activities required to position the Van Dyke project to transition to the PFS stage and the execution of non-binding letters of intent to access industrial water for leaching purposes and an offtake agreement for the material excavated from the propose underground excavation.
• Congratulated Teck and Anglo on the progress of the planned 'merger of equals' in light of receiving approval for the transaction by the Government of Canada.
• An update on the Van Dyke project including Letters of Intent for the industrial water needs and Gila Conglomerate take off at the project.
• Results of the 2025 drilling program at Schaft Creek which included intersecting mineralization 500m south of the Liard zone.

At Schaft Creek, the recently announced proposed Teck Resources Limited (Teck) - Anglo American plc (Anglo) merger of equals, if completed, could have a significant impact on the Schaft Creek project. Several of the stated financial benefits of the merger to Canada includes an investment of C$4.5 billion over 5 years, with a portion of that investment being allocated to advancing potential major new copper mines in Northwestern British Columbia and a total investment of C$10 billion over 15 years.

During 2025, the Schaft Creek Joint Venture (SCJV) completed the planned C$15.8 million program to assist in determining the project's readiness to transition to the PFS stage. The drilling program intersected significant intervals of copper and copper-gold mineralization up to 500m south of the Schaft Creek deposit with the furthest drillhole reporting high gold concentrations not typically observed in the Schaft Creek deposit. Teck as Operator of the SCJV has until the end of February to provide the 2026 program and budget for the Schaft Creek project.

Teck reported Pre-Production Costs, as that term is defined in the Schaft Creek Joint Venture Agreement (SCJVA), to the end of 2025 of approximately C$90 million. Of those Pre-Production Costs C$69 million has been incurred since completion of the 2021 preliminary economic assessment (PEA). The SCJVA stipulates that Teck are required to make the first C$60 million in Pre-Production Costs. The SCJVA also stipulates that Teck are also required to make three C$20 million Milestone Payments to Copper Fox, the first C$20 million was received upon signing of the SCJVA leaving two remaining Milestone Payments. As Pre-Production Costs have exceeded the C$60 million threshold covered by Teck the Pre-Production Costs going forward will be shared pro-rata with Copper Fox (75:25). As at December 31, 2025, Copper Fox's pro rata share of the Pre-Production Costs over C$60 million, ~ C$7.5 million, will be deducted from the third C$20 million Milestone Payment.

At Van Dyke, our focus in the first half of 2026 is completing an updated PEA to provide a technical and economic assessment of the project and continuing hydrogeologic activities to support future permitting activities. The planned PEA is expected to benefit from the publicly available information from the recently commissioned Florence ISCR project, further optimize the PFS Execution Plan and establish a starting point for the transition to PFS level studies. A significant achievement in 2025 was the execution of non-binding Letters of Intent to obtain industrial water for leaching purposes and the offtake of the rock excavated from the proposed underground development demonstrates the strong community support for the project.

At Mineral Mountain, drilling of the large porphyry copper "footprint" underlain by a buried positive chargeability anomaly of almost equal size is underway. The location, size and telescoped porphyry characteristics support the copper potential of this target. Our focus is on completing the current drilling program, compiling all data and assessing the merits of a follow-up drilling program in the first half of 2026.

At Eaglehead, the significantly expanded dimensions of the chargeability anomaly within the "mineralized corridor" augmented the porphyry potential of the project. Further exploration at Eaglehead is contingent on obtaining a Multi-Year Area Based permit before the end of June 2026. The resource base, the preliminary metallurgical testwork, and potential to combine the Bornite and East deposits into one larger deposit could substantially increase the project's metal balance but also suggests the project is rapidly advancing toward the PEA stage, a significant milestone for the project.

At Sombrero Butte, 2025 was a transformational year in understanding the porphyry copper potential of this project. Exploration results suggest the presence of a large, highly evolved porphyry copper system underlain by a large body of anomalous chargeability/resistivity. Copper Fox plans to submit a Plan of Operation to obtain permits required to drill test this high-quality porphyry target in late 2026 or early 2027.

Elmer B. Stewart, MSc, P.Geo, President 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.

Selected Financial Results

		3 Months Ended			3 Months Ended			3 Months Ended			3 Months Ended
		October 31, 2025			July 31, 2025			April 30, 2025			January 31, 2025
Loss before taxes	$	336,885		$	295,679		$	374,058		$	236,962
Net loss		164,538			295,679			374,058			236,962
Comprehensive (gain) / loss		(100,174	)		197,381			1,225,382			(461,245	)
Comprehensive loss per share, basic and diluted		0.00			0.00			0.00			0.00
		3 Months Ended			3 Months Ended			3 Months Ended			3 Months Ended
		October 31, 2024			July 31, 2024			April 30, 2024			January 31, 2024
Loss before taxes	$	261,484		$	293,185		$	302,668		$	230,877
Net loss		(219,427	)		293,185			302,668			230,877
Comprehensive (gain) / loss		(402,630	)		199,185			(167,104	)		905,445
Comprehensive loss per share, basic and diluted		0.00			0.00			0.00			0.00

 

Liquidity
As at October 31, 2025, the Company's cash position was $686,236 (October 31, 2024- $785,184) and as of the date of this News Release the Company's cash position is $129,927.

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 contact Lynn Ball at 1-844-464-2820, investor@copperfoxmetals.com

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 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 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 include statements regarding; increasing copper demand and the potential to be a future copper supplier; advancing the Schaft Creek and Van Dyke projects to the PFS stage; upgrading porphyry potential at Eaglehead and Sombrero Butte; and, the potential merger of equals of Teck and Anglo having a significant impact on Schaft Creek.

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, 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. Known risk factors include, among others: the Van Dyke and Schaft Creek projects may not advance to the PFS stage; the maiden drilling program at Mineral Mountain may not be successful; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; copper prices and demand may fluctuate; currency exchange rates may fluctuate; conditions in the financial markets may deteriorate; and uncertainty as to timely availability of permits and other governmental approvals.

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/282790

FAQ

What did Copper Fox (CPFXF) report for net loss in fiscal 2025?

Copper Fox reported a net loss of $1,071,237 for the year ended October 31, 2025. According to the company, this compares with a $607,303 net loss in 2024 and reflects increased project spending and exploration activity.

How much did Copper Fox (CPFXF) spend on project development in 2025?

Copper Fox spent $1,951,216 on development and exploration during fiscal 2025. According to the company, these expenditures targeted Schaft Creek, Van Dyke, Eaglehead, Sombrero Butte and Mineral Mountain projects to advance technical work.

What is Copper Fox's (CPFXF) cash position after filing its 2025 financials?

Copper Fox reported $686,236 cash at October 31, 2025 and $129,927 as of the release date. According to the company, the decline reflects ongoing project expenditures and near-term funding needs for 2026 activities.

What progress did Copper Fox (CPFXF) make on the Schaft Creek project in 2025?

The Schaft Creek joint venture completed a C$15.8M 2025 program and intersected mineralization 500m south of the deposit. According to the company, Teck reported ~C$90M pre-production costs to end-2025, affecting future cost-sharing arrangements.

What are Copper Fox's (CPFXF) near-term plans for Van Dyke and Mineral Mountain?

Copper Fox plans an updated PEA for Van Dyke and continued hydrogeologic work in early 2026. According to the company, Mineral Mountain drilling is underway to test a large porphyry footprint with follow-up plans pending 2026 evaluation.