Fox Tungsten Receives Authorizations for New Access Trail

Fox Tungsten Ltd. (FOXT) has received authorization from the BC Ministry of Water, Land and Resource Stewardship and the Ministry of Mining and Critical Minerals to construct a new access trail through a Wildlife Habitat Area (WHA). In conjunction with this approval, the company extended its Fox Multi-Year Area Based (MYAB) permit through March 31, 2031. As part of the WHA exemption, Fox committed to contributing approximately C$300,000 over five years to a regional caribou monitoring program.

The company’s fully funded 20,000-meter exploration program is currently progressing, with initial assay results expected in the coming weeks. Fox maintains its target to complete an updated mineral resource estimate and Preliminary Economic Assessment (PEA) in Q2 2027.

This release follows a sequence of expected operational milestones, including a C$12.7M financing in April 2026, the launch of the 20,000m drill program in June 2026, positive visual intercepts in July 2026, and the receipt of C$2.0M in Metal Energy Corp. shares in August 2026.

Fox Tungsten Ltd. (FOXT) has secured trail access through a Wildlife Habitat Area (WHA), a standard permitting step for mining projects in British Columbia that de-risks logistics and reduces helicopter dependency. The company also committed C$300,000 to caribou monitoring, a minor environmental cost that does not materially impact liquidity or the exploration budget.

In August, Fox Tungsten received shares in Metal Energy, a non-cash asset that improves the balance sheet but introduces valuation volatility linked to a smaller-cap entity. These shares are subject to a statutory hold period, limiting immediate monetization. The company’s drill program remains fully funded, with operational progress on track toward the Q2 2027 Preliminary Economic Assessment (PEA) target, showing no surprises or deviations from prior guidance.

Fox Tungsten Ltd. (FOXT) is an exploration-stage company focused on critical minerals in British Columbia. Its flagship asset is the Fox Tungsten Project, located in the Cariboo Region. The property holds a NI 43-101 resource estimate of 582,400 tonnes grading 0.826% WO3 (Indicated) and 565,000 tonnes grading 1.231% WO3 (Inferred). The deposit remains open for expansion laterally and at depth.

The company also holds other assets, including the Silverboss Project, which features copper, molybdenum, gold, and silver targets, and the Hen Art DL Gold Project, which is drill-ready with historic adit grades up to 40g/t Au.

In November 2024, the company divested the Highland Valley project to Metal Energy Corporation. Fox retained a 2.5% NSR royalty and received $6M in equity over four years. The company has no revenue-generating operations and relies entirely on equity financing to fund exploration.