Copper Fox Announces Q1 2026 Results and Project Updates

Executive Summary

• Copper Fox reported a net loss of $242,857 for the quarter ended Jan 31 2026 and disclosed cash on hand of $1.31 M after a $3 M private placement.
• The company provided detailed 2025 drilling intercepts from Schaft Creek (e.g., 67.27 m @ 0.286% Cu, 1.814 g/t Au) and announced the start of a maiden drill program at Mineral Mountain.
• Significant project milestones were disclosed: PEA commencement on Van Dyke with hydrogeological modelling, MYAB permit submission for Eaglehead, and ongoing work plans for Sombrero Butte and Schaft Creek.

Key Details

• Financial Results (Q1‑2026):
• Net loss: $242,857 (vs. $1,071,237 in Q4‑2025).
• Loss before taxes: $242,857.
• Comprehensive loss: $964,419.

• Cash position at Jan 31 2026: $306,730; cash after private placement: $1,308,194.

• Financing:

• Completed a non‑brokered private placement raising ~​$3,000,000 gross proceeds.

• Issued 4,615,384 common shares at $0.65 per share.

• Schaft Creek Drilling Results (2025):

• DDH SCK-25-478: 67.27 m interval (357.73‑425.00 m) – 0.286% Cu, trace Mo, 1.814 g/t Au, 1.77 g/t Ag; includes 11.5 m @ 0.381% Cu, 9.352 g/t Au, 2.67 g/t Ag.

• DDH SCK-25‑480: 181.50 m interval (21.00‑202.50 m) – 0.299% Cu, 0.006% Mo, 0.088 g/t Au, 0.96 g/t Ag; includes 15.0 m @ 0.562% Cu, 0.009% Mo, 0.131 g/t Au, 1.70 g/t Ag.

• Project Updates:

• Van Dyke (AZ): PEA underway; 3‑D groundwater flow model and hydrogeological data collection ongoing; non‑binding LOIs for industrial water supply and material offtake signed.
• Mineral Mountain (AZ): First drillhole completed; second drillhole ~1.3 km NE in progress; DDH MM‑01‑2025 details to be released soon, drilling continues with DDH MM‑02‑2025.
• Eaglehead (BC): Multi‑Year Area Based permit application submitted to BC Ministry of Mines.
• Sombrero Butte (AZ): Project at drill‑ready stage; PoO preparation delayed for additional field work after positive geophysical re‑modelling.

• Schaft Creek (BC): Total JV expenditures to end‑2025 ≈ $90 M; 2025 drilling suggests significant resource expansion; 2026 budget/program forthcoming.

• Liquidity:

• Cash increased from $306,730 (Jan 31 2026) to $1,308,194 after financing.

Notable Quotes

• “During the Quarter, Copper Fox made significant progress advancing its objective of completing a prefeasibility study (PFS) on its Van Dyke project… At Mineral Mountain, the first drillhole in its ‘maiden’ drilling program has been completed…” – Elmer B. Stewart, President & CEO.