Copper Fox Announces 2026 Q2 Financial Results and Project and Corporate Updates
Rhea-AI Summary
Copper Fox (OTCQX: CPFXF) reported unaudited Q2 2026 results and project updates. For the three months ended April 30, 2026, net loss was $396,813. The company invested $2.9 million in its Van Dyke, Eaglehead, Sombrero Butte and Mineral Mountain projects and closed a $3.0 million private placement at $0.65 per share.
Key updates include commencement of the 2026 Van Dyke PEA with an updated MRE, confirmation of a large porphyry copper system at Mineral Mountain, and a $9.1 million 2026 work program at Schaft Creek operated by Teck.
Positive
- Closed $3.0 million private placement at $0.65 per share
- $2.89 million spent in six months advancing four copper projects
- 2026 Van Dyke PEA underway with updated mineral resource estimate planned
- Mineral Mountain drilling confirmed large Laramide-age porphyry copper system
- $9.1 million 2026 work program and budget approved for Schaft Creek
- Teck has invested C$114 million in Schaft Creek since SCJV inception
Negative
- Q2 2026 net loss of $396,813 continues pattern of quarterly losses
- Cash declined to $629,849 at April 30, 2026 and $145,220 currently
- Eaglehead drilling unlikely in near term due to short season and service access limits
- Multiple projects depend on permits and regulatory approvals before further drilling
News Market Reaction – CPFXF
In the Jun 26 session, CPFXF gained 0.23%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Calgary, Alberta--(Newsfile Corp. - June 25, 2026) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") announces that its unaudited interim consolidated April 30, 2026, financial statements have been filed on SEDAR+. For the Quarter ended April 30, 2026, Copper Fox had a net loss of
Elmer B. Stewart, President and CEO of Copper Fox, stated, "It has been a very exciting and busy Quarter, the work being completed by the various contractors on the 2026 Preliminary Economic Assessment (PEA) at Van Dyke continues and will include an updated mineral resource estimate (MRE) to support the 2026 PEA. The maiden drilling program at Mineral Mountain has confirmed the discovery of a large Laramide age porphyry copper system with six additional mineral claims being added to cover the possible extension of the large target. Teck Resources Limited, Operator of the Schaft Creek Joint Venture (SCJV), following the positive results of the 2025 drill program, announced a
Our current focus is completion of the 2026 MRE and PEA for the Van Dyke project. Compilation and assessment of a drilling program for Mineral Mountain is planned contingent on receipt of the analytical results for the bottom 300 meters of drillhole DDH MM-02-2025. The Eaglehead and Sombrero Butte projects are at various stages of the permitting process to obtain the permits required to conduct future exploration programs. Copper Fox is looking forward to working with the regulatory bodies to diligently advance these permitting initiatives."
During the six months ended April 30, 2026, the Company incurred
Highlights
- Announced commencement of the 2026 Van Dyke PEA.
- Announced preliminary Mineral Mountain drill results and the discovery of a large Laramide age porphyry copper system.
- Announced the Schaft Creek 2026 work program and budget of
$9.1 million . - Announced positive results for the historical drill core sampling at Van Dyke, analytical results include:
- DDH OXY-42, intersected a 100.59 meter (m) core interval (336.19 to 436.78m) that averaged
0.250% total copper (TCu) and0.163% TSCu - DDH OXY-42 included a 22.86m core interval (337.72 to 360.58m) that averaged
0.481% TCu and0.409% TSCu
- DDH OXY-42, intersected a 100.59 meter (m) core interval (336.19 to 436.78m) that averaged
- Completed a non-brokered private placement of
$3,000,000 in gross proceeds by issuing 4,615,384 common shares at a price of$0.65 per share. - Announced an updated MRE to be included to support the 2026 PEA on the Van Dyke project along with a preliminary 3-D numerical groundwater flow model and continued hydrogeological data collection.
- Announced results of the 2025 geotechnical, hydrogeological, environmental, and meteorological studies at Schaft Creek.
- Announced additional positive results for the historical drill core sampling at Van Dyke. Analytical results from 15 of the 18 drillholes returned intervals exceeding the TSCu cutoff of
0.025% (ASCu% + CNCu%) used in the 2020 MRE.
Van Dyke Project, Arizona
During the Quarter, early works required to update the PEA, have been completed. The PEA includes updates to the MRE, underground access and wellfield design, copper recovery predictions, infrastructure layout, water treatment, pre-tax and post-tax economic analysis using long term consensus copper prices and recommendations to advance the developments of the Van Dyke project. The results of the PEA would be used to determine project readiness to transition to the Preliminary Feasibility Study (PFS) stage. Activities included hydrogeological monitoring, quarterly water quality sampling, established two additional hydrogeological monitoring and one groundwater sampling station, preliminary meetings with the Town of Miami on obtaining a permit to conduct future drill programs and sampling to confirm the limits of the recoverable copper mineralization were completed. A critical portion of advancing the Van Dyke project is demonstrating to the federal and state regulatory bodies that future leaching operations can be conducted in a safe, environmentally friendly manner. To achieve this, understanding fluid flow patterns within the Bloody Tanks drainage basin and the Van Dyke project is critical and impact the well field and monitoring well design configurations to contain and recover the leaching fluids, but also provides data to estimate the sweep efficiency and predicted copper production, critical aspects of maximizing the economics of the Van Dyke project.
Mineral Mountain Project, Arizona
The project is in a prolific porphyry copper trend in Arizona, approximately 25km southwest of the giant Resolution porphyry copper deposit and 20km northeast of the Florence ISCR deposit. The two hole (totalling 2,558.11m) "maiden" drilling program confirmed the presence of a large, evolved Laramide age porphyry copper system underlying the project.
The two drillholes located approximately 1.3km apart, tested the large Laramide age porphyry copper target. DDH MM-01-2025 (total depth 860.76m) intersected the outer propylitic zone of the system and six significant intervals of copper-molybdenum enrichment associated with sulphide (Cu+/-Mo+/-Py) veining and associated alteration envelopes. DDH MM-02-2025 intersected a classic porphyry alteration and mineralization sequence that indicates vectoring toward a potential higher-grade potassic core at depth (see news release dated June 11, 2026). The increase in copper-molybdenum mineralization associated with intense quartz-sericite-pyrite alteration, combined with increasing quartz veining, high-temperature alteration at depth, magnetite sulphidization and appearance of bornite rimming chalcopyrite toward the bottom of the hole indicate that drilling has not yet reached the core of this large porphyry system. DDH MM-02-2025 has been placed on care and maintenance and can be re-entered to continue the hole to test the interpreted higher-grade core of the porphyry. Pending receipt of the analytical results for the core interval 1,394m to 1,697m in DDH MM-02-2025, an updated technical assessment of the Mineral Mountain porphyry copper system is planned to prepare a follow-up drilling program to test the interpreted higher-grade core of the system at depth.
Schaft Creek Project, British Columbia
The SCJV was created in 2013 between Teck and Copper Fox to further explore and develop the polymetallic Schaft Creek porphyry copper project. Since inception of SCJV, Teck has spent C
Since completion of the 2021 Schaft Creek PEA, the SCJV has completed geological, metallurgical, geotechnical, infrastructure, environmental, hydrogeological and archeological studies focused on advancing the Schaft Creek project. The 2026 budget for Schaft Creek is
During the Quarter, the SCJV reported the results for the 2025 geotechnical, hydrogeological, environmental, and meteorological studies and recommend future programs to provide support for permitting activities and augment these databases to meet threshold industry standards for a preliminary feasibility level of study.
Eaglehead Project, British Columbia
During the Quarter activities included advancing the permitting process, completion of a Wildlife Management Plan, investigating the applicability of Ore Sorting technology and planning for additional rock characterization and variability testwork at a coarser grind size on mineralization from the East, Bornite and Pass deposits. A review of previous Lock-Cycle Flotation testwork to the third cleaner concentrate stage suggests that the metallurgical performance at a coarse grind size could approximate metal recoveries at finer grind size. Processing material at a coarse grind size could have a positive impact on the comminution circuit and related costs in the milling portion of future project design. As of the date of this MD&A, the MYAB is in the review stage by various interested parties and not been approved. At this time, it is highly unlikely that Copper Fox could access the services required to conduct the planned drilling program given the short exploration season and level of exploration in northern British Columbia.
Sombrero Butte Project, Arizona
During the Quarter, activities included "ground truthing" of potential drillhole locations, mapping, and additional modelling of the 2025 chargeability/resistivity data and revisions to the exploration model used to advance exploration of the project. The proposed drill holes are located on Arizona State land. To obtain the permit to conduct drilling operations on State land, Copper Fox must submit a Geologic Field Operations Plan (GFOP) supported by a cultural and native plant species. Copper Fox is in discussions with an Arizona-based consulting firm with expertise in cultural resources and native plant studies to define the scope and estimated costs to complete these studies.
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 | |||||||||
| April 30, 2026 | January 31, 2026 | October 31, 2025 | July 31, 2025 | |||||||||
| Loss before taxes | $ | 396,813 | $ | 242,857 | $ | 336,885 | $ | 295,679 | ||||
| Net loss | 396,813 | 242,857 | 164,538 | 295,679 | ||||||||
| Comprehensive (gain) / loss | 214,355 | 964,419 | (100,174 | ) | 197,381 | |||||||
| 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 | |||||||||
| April 30, 2025 | January 31, 2025 | October 31, 2024 | July 31, 2024 | |||||||||
| Loss before taxes | $ | 374,058 | $ | 236,962 | $ | 261,484 | $ | 293,185 | ||||
| Net loss | 374,058 | 236,962 | (219,427 | ) | 293,185 | |||||||
| Comprehensive (gain) / loss | 1,225,382 | (461,245 | ) | (402,630 | ) | 199,185 | ||||||
| Comprehensive loss per share, basic and diluted | 0.00 | 0.00 | 0.00 | 0.00 |
Liquidity
As at April 30, 2026, the Company's cash position was
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
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 includes statements regarding; updating the PEA and MRE at Van Dyke; further drilling at Mineral Mountain; conducting future exploration programs at Eaglehead and Sombrero Butte; and completing technical reviews at Schaft Creek to determine project readiness to transition the project to the PFS stage.
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 updated PEA and MRE at Van Dyke may get completed as planned or at all; the maiden drilling program at Mineral Mountain may not result in further drilling; Eaglehead may not receive an approved MYAB permit; the required surveys for the GFOP at Sombrero Butte may not get started; 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/302968