Copper Fox Provides Update on Mineral Mountain Drill Permit

Rhea-AI Summary

Copper Fox Metals has received approval from the BLM Field Manager for its Plan of Operation (POO) to conduct a maiden drilling program at the Mineral Mountain porphyry copper property in Arizona. The project, spanning 2,692.4 hectares, is strategically located within the Mineral Mountain Mining District, approximately 25km southwest of the Resolution copper-molybdenum deposit and 20km northeast of the Florence copper deposit. The approval follows a completed environmental assessment by SWCA that found "No Significant Impact" and a 30-day public review period that concluded with no substantive comments. Operations can begin once a suitable reclamation bond is accepted by the BLM. The project area covers a 3.0km by 1.0km zone of gold-enriched porphyry copper mineralization, associated with a 3.2km by 1.2km buried chargeability anomaly.

Positive

• Successful approval of Plan of Operation by BLM Field Manager for maiden drilling program
• Environmental assessment found 'No Significant Impact', indicating minimal environmental concerns
• Strategic location near major copper deposits (Resolution and Florence)
• Significant mineralization zone identified (3.0km x 1.0km) with gold enrichment
• 100% ownership of the property

Negative

• Operations cannot commence until reclamation bond is secured
• Early-stage project with no drilling completed yet

Calgary, Alberta--(Newsfile Corp. - May 26, 2025) - Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") and its wholly owned subsidiary, Desert Fox Mineral Mountain Co. ("Desert Fox"), are pleased to provide an update on the permitting process to complete a 'maiden' drilling program (see News release dated October 31, 2024) on its 100% owned Mineral Mountain porphyry copper property (2,692.4 ha) located within the Mineral Mountain Mining District, Arizona. The Mineral Mountain Mining District is located within a northeast trending porphyry copper belt approximately 25 kilometers (km) southwest from Rio Tinto and BHP's giant Resolution porphyry copper-molybdenum deposit and approximately 20 km northeast of Taseko's Florence porphyry copper deposit.

Highlights

• Our Mining Plan of Operation (MPO) was completed and accepted by the BLM Field Manager on March 11, 2024, subject to an environmental assessment including public involvement

• SWCA completed the environmental assessment and a 'Finding of No Significant Impact' was determined by the BLM

• The 30-day public review period concluded on May 7, 2025, and the BLM advises there were no substantive public comments made during this public review period

• On May 15, 2025, our proposed Plan of Operations (POO) was approved by the BLM Field Manager

• Operations under the plan may commence only after a suitable reclamation bond has been accepted by the BLM

Elmer B. Stewart, President, and CEO of Copper Fox, stated, "We are pleased to have received the BLM Field Manager's decision to select the Plan of Operation to conduct the maiden drilling program at Mineral Mountain and are now working with bonding agencies in Arizona to arrange the bond established by the BLM. More importantly, based on the Environmental Review, the BLM concluded that completion of the drilling program is not expected to impact the local environment as set out in the 'Finding of No Significant Impact' decision by the BLM."

Mineral Mountain Project

The Mineral Mountain project covers a 3.0 km by 1.0 km zone of gold enriched; porphyry copper style mineralization associated with a 3.2 km by 1.2 km open-ended buried chargeability anomaly hosted in porphyritic granodiorite and quartz monzonite phases of the Laramide age Mineral Mountain intrusive (69.7 +/- 0.4 Ma; U/Pb zircon). The porphyry copper target exhibits a central core of potassic alteration (Kspar-biotite-magnetite) contained within a broader zone of Sericitic-Chlorite alteration. Propylitic (epidote + chlorite + calcite) alteration has been observed within the potassic and sericitic alteration zones but is primarily located on the margin of the Sericite-Chlorite alteration."

Elmer B. Stewart, MSc. P.Geo., 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 Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. Copper Inc. and Desert Fox Copper Inc. Its wholly owned subsidiaries being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 100% ownerships of the Van Dyke ISCR project, and the Mineral Mountain and Sombrero Butte porphyry copper exploration projects all located in Arizona, the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project and the 100% owned Eaglehead polymetallic porphyry copper project each located in northwestern British Columbia. 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 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 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: approval of the PoO; completion of the 30-day Public Commentary period; provision of an acceptable reclamation bond; a maiden drilling program; porphyry copper style mineralization, and the chargeability anomaly associated with the copper mineralization.

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 advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; and the reliability of historical reports. 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 reclamation bond may not be accepted within a reasonable time frame or at all: the maiden drilling program may not be completed as planned or at all; porphyry copper style mineralization may not be as interpreted; the chargeability anomaly associated with the copper mineralization may not be indicative of porphyry style copper mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing 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/253358

FAQ

What is the current status of CPFXF's Mineral Mountain drilling permit?

The BLM Field Manager approved the Plan of Operation on May 15, 2025. Operations can begin once a suitable reclamation bond is accepted by the BLM.

Where is Copper Fox's Mineral Mountain property located?

The property is located in Arizona's Mineral Mountain Mining District, 25km southwest of the Resolution copper-molybdenum deposit and 20km northeast of the Florence copper deposit.

What is the size of CPFXF's Mineral Mountain mineralization zone?

The project covers a 3.0km by 1.0km zone of gold-enriched porphyry copper mineralization, associated with a 3.2km by 1.2km buried chargeability anomaly.

What were the results of the environmental assessment for Copper Fox's Mineral Mountain project?

SWCA completed the environmental assessment with a 'Finding of No Significant Impact' determination by the BLM, and no substantive public comments were made during the 30-day review period.

What is the ownership structure of the Mineral Mountain property?

The property is 100% owned by Copper Fox through its wholly owned subsidiary, Desert Fox Mineral Mountain Co.