Copper Fox Provides Update on Schaft Creek Project

Rhea-AI Summary

Copper Fox (OTCQX: CPFXF; TSXV: CUU) provided a Schaft Creek update on October 16, 2025 covering the 2025 field program and next steps toward a prefeasibility study.

Key points: five diamond drillholes (1,797.1 m) completed south of the Liard zone with four holes intersecting discontinuous copper mineralization (assay results pending); geophysical surveys completed (13,310 m ERT; 6,825 m seismic); environmental and baseline SERA studies finished; geometallurgical work shows spatial variability in copper recovery. Transition to a PFS is expected to commence in early 2026, subject to meeting Teck's capital-allocation criteria.

Positive

• Completed 1,797.1 m of diamond drilling in 2025 field program
• Geophysical surveys completed: 13,310 m ERT and 6,825 m seismic
• Environmental and baseline SERA studies completed for site infrastructure
• PFS transition planned for early 2026, subject to criteria

Negative

• Analytical assay results from 2025 drilling are pending
• Preliminary geometallurgical tests show variable copper recovery in zones
• Mineralized intervals described as discontinuous, significance uncertain

Calgary, Alberta--(Newsfile Corp. - October 16, 2025) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") is pleased to provide an update on recent activities for the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. The Schaft Creek project is managed through the Schaft Creek Joint Venture ("SCJV"). Teck Resources Limited ("Teck") is the Operator of the SCJV and holds a 75% interest with Copper Fox holding the remaining 25% interest. The field program was completed in mid-September.

2025 Field Program Highlights

• Five diamond drillholes (1,797.1meters (m)) were completed in the area south of the Liard zone, four of which intersected variable intervals of discontinuous copper mineralization. Analytical results are pending.
• Electrical Resistivity Tomography (13,310m) and seismic refraction (6,825m) geophysical surveys were completed in the areas of the proposed rock storage facilities.
• Environmental field activities including archeological investigations, water, glacier and meteorological studies were conducted during the field season.
• Geometallurgical studies are progressing, and an update on the interpretation is discussed below.
• Transition to the prefeasibility study (PFS) stage is expected to commence in early 2026, subject to meeting stringent criteria to deliver attractive risk-adjusted returns in alignment with Teck's capital allocation framework.

Elmer B. Stewart, President and CEO of Copper Fox, stated, "We are pleased on the progress made toward advancing the Schaft Creek project. The drilling and geophysical surveys in the proposed rock storage facilities provide greater certainty on these critical infrastructure components of the project. Until the analytical results of the core samples have been received, the significance of the mineralized intervals reported in this news release is uncertain. Results of the studies and analytical results from the drilling will be released on receipt."

2025 Field Program

Drilling
The drilling program tested the bedrock underlying a potential rock storage facility and investigated the extension of the mineralization in the Liard and West Breccia zones to the south. The drilling program consisted of five (5) diamond drillholes totalling 1,797.1m. Four (4) of the drillholes intersected variable intervals of discontinuous chalcopyrite, +/- bornite mineralization. The core samples have been submitted for analysis and results are pending. Drillhole locations and specific information related to the diamond drilling program are shown in Figure-1 and Table-1.

Figure-1: Schaft Creek 2025 diamond drillhole locations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2177/270579_64b2280ad456b883_001full.jpg

Table-1: Schaft Creek 2025 diamond drilling program

DDH_ID	Easting	Northing	Elevation	Azimuth	Dip	Total Depth (m)
SCK-25-477	379870	6359166	975.0	290	-60	321.3
SCK-25-478	379966	6358781	962.0	270	-70	488.8
SCK-25-479	380412	6358957	879.0	270	-60	290.4
SCK-25-480	380123	6358290	1037.0	270	-65	300.4
SCK-25-481	380004	6358656	1010.0	270	-60	396.2

 

Geophysical Surveys
Electrical Resistivity Tomography (13,310m) and Seismic Refraction (6,825m) surveys were completed to map the thickness of overburden in the proposed locations for the two potential rock storage facilities. Modelling of both data sets is expected to be completed by the end of the year.

SERA Studies
Archeological studies were conducted by TEEM Archeology (accompanied by Tahltan Cultural Monitors) and focused on the areas of proposed site infrastructure. Hydrology, hydrogeology, glacier, and meteorology baseline studies were also conducted.

Geometallurgical Testwork
The preliminary results for the sulphide flotation testwork indicate that there is more variability of copper recovery in certain spatial areas of the deposit relative to others. Ongoing work is being conducted to quantify the volume represented by these zones of greater variability, with future testwork being planned in these more variable zones. The preliminary interpretation of the greater variability is presence of minor amounts of copper oxides, and low liberation of copper sulphides in these areas. Predicted metal recovery curves for copper, gold and molybdenum will be established following further analysis of zones exhibiting greater variability.

In addition, Coarse Particle Flotation testwork to trial the viability of the technology for the Schaft Creek deposit has commenced on a composite sample from the Liard zone. The Liard zone was selected due to its low variability and positioning in the early stages of the mine life.

Anticipate Starting PFS in 2026
The objective of the 2025 program is to transition the project from the scoping stage to the PFS stage. The SCJV anticipates commencing the PFS in 2026 subject to meeting stringent criteria to deliver attractive risk-adjusted returns in alignment with Teck's capital allocation framework.

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 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 Canadian exploration and development company focused on Tier 1 copper projects in Canada and the United States. The principal assets of Copper Fox and its wholly owned subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 100% ownership of the Van Dyke oxide copper project located in Miami, AZ, the 100% interest in the Mineral Mountain and Sombrero Butte porphyry copper exploration projects 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.

For additional information, contact: Lynn Ball at 1-844-464-2820; investor@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 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 about: diamond drilling; geophysical surveys; environmental field activities; geometallurgical studies; and transitioning 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, 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; the speed of field studies; 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: archeological investigations, water, glacier and meteorological studies may not be as interpreted; the porphyry style mineralization may not occur in significant concentrations; the geophysical surveys may not provide the required information; the preliminary results of the metallurgical studies may not be accurate; the criteria required to support transition to the PFS stage may not be met; uncertainties relating to interpretation of results; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; fluctuations in commodity prices and demand; currency exchange rates; 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/270579

FAQ

What did Copper Fox (CPFXF) report on the Schaft Creek 2025 drilling?

Copper Fox completed five diamond drillholes totaling 1,797.1 m; four holes intersected discontinuous copper mineralization and assays are pending.

When does Copper Fox expect to start the Schaft Creek prefeasibility study (PFS)?

The SCJV anticipates commencing the PFS in early 2026, subject to meeting Teck's capital-allocation criteria.

What geophysical work did Copper Fox complete at Schaft Creek in 2025?

Completed electrical resistivity tomography (13,310 m) and seismic refraction (6,825 m) to map overburden for proposed rock storage facilities.

What did geometallurgical testwork show for Schaft Creek (CPFXF)?

Preliminary sulphide flotation testwork indicates spatial variability in copper recovery; further testing is planned in variable zones.

How material are the 2025 results for Schaft Creek shareholders of CPFXF?

Drilling, geophysics and SERA studies advance project definition, but assay results and recovery curves are pending, limiting immediate shareholder impact.