Copper Fox talks Van Dyke copper project progress

Executive Summary

• Copper Fox Metals Inc. provided a strategic update on its 100%-owned Van Dyke in situ copper recovery (ISCR) project in Arizona, highlighting progress toward restarting production at the historic mine.
• The company executed non-binding Letters of Intent (LOIs) with the Tri-City Regional Sanitary District (TRSD) and the Town of Miami to secure critical industrial water for leaching and to utilize excavated Gila conglomerate rock for local road maintenance, potentially reducing capital costs and environmental footprint.
• Key operational milestones include the assembly of an engineering team to complete a Preliminary Economic Assessment (PEA), the continuation of hydrogeological studies, and the initiation of the permitting process for future drilling activities with the Town of Miami.

Key Details

• Project Overview: The Van Dyke ISCR project is a 100%-owned, near-term, mid-size copper project with a 17-year mine life.
• Production Capacity: 85 million pounds of Grade A 99.99% pure copper cathode per year.
• Location: Center of the Miami-Inspiration mining district, Gila County, Arizona.
• Economic Impact: Expected to provide 500 direct/indirect jobs, inject ~$1.07 billion (USD) into the local economy, and contribute ~$355 million (USD) in taxes over the mine life.
• LOI with Tri-City Regional Sanitary District (TRSD):
  • TRSD to provide 15% of industrial water needed for leaching purposes.
  • Source: TRSD’s 50,000 gallon per day facility, scheduled for completion in Q1 2027.
  • Terms are non-binding and contingent on the Van Dyke project achieving production.
• LOI with Town of Miami:
  • Town to remove Gila conglomerate rock excavated from planned underground access.
  • Material to be used for road maintenance and construction, eliminating the need for a waste rock storage facility and associated capital costs from the 2020 PEA.
  • Terms are non-binding and contingent on the Van Dyke project achieving production.
• Engineering & Technical Work:
  • Engineering team being assembled to complete the recently announced Preliminary Economic Assessment (PEA).
  • Hydrogeological studies are continuing to understand water flow critical for ISCR operations.
  • Permitting process for future planned drilling activities is underway with the Town of Miami.
• Strategic Goal: Focus for 2026 is on completing an updated PEA to deliver a capital-efficient optimized plan to advance the project to the prefeasibility study (PFS) stage.

Notable Quotes

• Elmer B. Stewart, President and CEO of Copper Fox: "The execution of these LOIs demonstrate the increasing support from the local business community and the Town of Miami toward advancing the Van Dyke project toward our stated objective to restart copper production from this historic copper mine. These agreements provide access to a critical component of the planned leaching operations and provide an opportunity to reduce the project footprint and projected capital costs."
• Mary-Anne Morano, President and CEO of TRSD: "We are pleased to support advancing the Van Dyke project by providing much needed industrial water for leaching purposes. The successful completion of our facility combined with the expectation that the Van Dyke project reaches production is mutually beneficial to both parties."
• Alexis Riveria, Town Manager for Miami: "We are pleased to continue supporting the advancement of the Van Dyke project and to have this opportunity to access this much need industrial material for the town. This agreement is an example of two groups with a mutually vested interest working together to advance the Van Dyke project toward production which, if achieved, would have a significant long-term positive impact on Miami and surrounding communities."