Copper Fox receives Schaft Creek exploration reports

Executive Summary

• Copper Fox Metals Inc. received reports from its 2025 geotechnical, environmental, and hydrogeological program at the Schaft Creek project, managed via a joint venture with Teck Resources Ltd.
• The 2025 program, budgeted at $15.8 million, focused on infrastructure parameters, drilling, geophysics, and environmental baselines, confirming that current geotechnical databases are sufficient for scoping-level studies but require augmentation for preliminary feasibility-level studies.
• Key findings include the identification of significant challenges and insufficient assessment for four potential rock storage facility (RSF) locations, necessitating supplemental field investigations, while hydrogeological data showed consistency with historic models.

Key Details

• Project Structure: Schaft Creek project is a joint venture (SCJV) with Teck Resources Ltd. as operator (75% interest) and Copper Fox Metals Inc. holding the remaining 25% interest.
• Project Location: Northwestern British Columbia; described as one of the largest undeveloped porphyry copper deposits in North America with significant gold-molybdenum-silver byproducts.
• 2025 Program Budget: $15.8 million.
• Program Scope: Included drilling, geophysical surveys, archeological investigations, and environmental baseline studies aligned with Tahltan Nation's cultural and social traditions.
• Geotechnical Review Conclusions:
  • Data collected between 2008 and 2025 indicates geotechnical investigations from 2023 and 2024 are appropriate for advanced scoping-level designs.
  • A gap analysis is recommended to identify areas for further investigation, including additional drilling and rock mechanics laboratory testing to expand structural, geomechanical, and hydrogeological databases.
  • Future programs are required to meet industry expectations for prefeasibility-level geotechnical design.
  • Updated and refined geotechnical and hydrogeological models are needed to support detailed slope stability analyses.
• Rock Storage Facility (RSF) Findings:
  • Review of historical and current data for four potential RSF locations identified significant challenges due to adverse foundation conditions and natural geohazards.
  • Proposed locations are not considered sufficiently assessed to inform beyond scoping-level studies.
  • Supplemental field investigations are required, including test pits, drilling, and laboratory testing to assess suitability for waste rock storage.
• Meteorological Review:
  • Conducted by Tahltan ERM Environmental Management.
  • Focused on predicting precipitation levels at the site and along proposed access roads.
  • Data supports environmental baseline monitoring for provincial environmental assessments (EA) and permitting processes.
• Glacier Monitoring:
  • Purpose is to characterize existing glacial conditions to assess effects on resource development.
  • Provides information for water balance, water quality modeling, stream flow prediction, and engineering design.
• Hydrometric Monitoring:
  • Characterizes surface water resources and assesses potential effects on water bodies.
  • Provides baseline data for water quantity/quality modeling, dilution, runoff modeling, and in-stream flow estimates.
• Hydrogeology Monitoring:
  • Measured groundwater flow conditions and K values (hydraulic conductivity) for each lithologic unit.
  • 2025 data is consistent with historic data across most monitoring wells, improving confidence in the conceptual hydrogeological model.
  • Data supports the EA process and future design stages.
• Qualified Person: Elmer B. Stewart, MSc, PGeo, President and CEO, reviewed and approved the scientific and technical information.

Notable Quotes

• "These studies form part of an ongoing program to collect geotechnical, hydrogeological, environmental and meteorological data to guide planning for future programs and support these important aspects of project development. The data from the 2025 field program indicates no significant changes from results of prior studies and conclude that the current geotechnical databases for the open-pit and rock storage footprint are sufficient to support a scoping level of study. The 2025 studies recommend future programs to provide support for permitting activities and augment these databases to meet threshold industry standards for a preliminary feasibility level of study." — Elmer B. Stewart, President and CEO