Copper Fox Reports Q3 Loss, Advances Project Workstreams

Calgary, Alberta, (Newsfile Corp. - September 21, 2026) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ("Copper Fox" or the "Company") has released its unaudited interim consolidated financial statements for the quarter ending July 31, 2026. These financial statements have been filed on SEDAR+. For the quarter ended July 31, 2026, Copper Fox reported a net loss of $956,920, which is a decrease from the net loss of $1,071,237 reported for the quarter ending October 31, 2025. This loss equates to $0.00 per share, compared to $0.00 per share for the same period in the previous year.

Copper Fox has been actively advancing several key work streams aimed at increasing technical confidence, reducing project risk, and identifying the next value-creating catalysts across its portfolio. At Van Dyke, the company has completed a non-brokered private placement that brought a total of $5,571,600 in gross proceeds in 2026. The 2026 PEA (Preliminary Economic Assessment) is expected to provide an important decision-making framework for the project, offering a realistic and achievable operating plan and enabling potential pre- and post-tax economic modelling of the project.

At Mineral Mountain, the company has confirmed the presence of a large, previously unknown Laramide-age porphyry copper system beneath the property. The maiden drilling program intersected a well-developed porphyry alteration and mineralization sequence, providing important geological vectors toward a potential higher-grade zone at depth. The 278.97-meter interval of continuous copper-molybdenum mineralization encountered in the interpreted outer portion of the copper shell demonstrates the scale and fertility of the system, validating the exploration model and establishing a stronger technical foundation for follow-up drilling designed to test the higher-temperature, potentially higher-grade portion of the porphyry system.

At Schaft Creek, the SCJV (Schaft Creek Joint Venture) has continued to evaluate opportunities to improve recoveries, processing design, and overall project configuration. The SCJV has also reported results from rougher flotation testing on 75 variability samples, using multiple flotation collectors, to determine an optimized reagent combination. These results advance the understanding of metallurgical variability across feed grades ranging from 0.1% to 0.4% copper and provide a stronger technical basis for predicting processing performance across the deposit.

Copper Fox's near-term priorities are focused on advancing measurable milestones that can strengthen the Company's investment profile. These initiatives are intended to allocate capital to the highest-priority opportunities, advance assets with meaningful copper exposure, and position Copper Fox to make disciplined decisions that are aligned with shareholder value creation.

During the nine months ended July 31, 2026, the Company incurred $4,038,415 in expenditures toward furthering the development of its Van Dyke copper project and furthering exploration of its Eaglehead, Sombrero Butte, and Mineral Mountain copper projects. The SCJV continued working on various technical reviews on Schaft Creek. 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.

Van Dyke Project The 2020 Preliminary Economic Assessment (PEA) established Van Dyke as a potential near-term, mid-size and environmentally responsible ISCR (Indirect Smelting and Concentrate Refining) copper project, outlining a projected 17-year mine life with average annual production capacity of approximately 85 million pounds of Grade A 99.99% pure copper cathode. The 2020 PEA provides the technical and economic baseline from which the 2026 PEA is being advanced, allowing new resource, hydrogeological, metallurgical, and engineering inputs to be incorporated into a more current assessment of the project's potential.

During the quarter, several key technical advancements were incorporated into the study, including the preliminary groundwater flow model, chemical analyses of leach solutions generated from bottle-roll testing, and an updated MRE (Metallurgical Recovery Experiment), each of which materially strengthens the technical basis for evaluating the Van Dyke project. The groundwater flow model provides the framework for future simulation testing to assess sweep efficiency, support wellfield design, and improve predictions of future copper production. The leach-solution analytical results provide data to refine water-treatment plant design, capital-cost assumptions, and operating parameters.

In parallel, the design and specification of underground excavations, underground infrastructure, portal location, surface infrastructure, and the leaching schedule have been substantially completed, representing meaningful progress in converting conceptual development assumptions into defined engineering inputs. Completion of these early-stage technical workstreams is expected to allow the remaining PEA parameters, including pre-tax and post-tax economic modelling using long-term consensus copper prices, to advance more efficiently once the principal project inputs are finalized. The updated PEA is expected to be completed in Q4 2026.

Mineral Mountain Project The maiden drilling program at Mineral Mountain confirmed the presence of a large, previously unknown Laramide-age porphyry copper system beneath the property.