Copper Fox outlines 2025 work at Schaft Creek

Executive Summary

• Copper Fox Metals provided an operational update on the Schaft Creek project in northwestern British Columbia, highlighting the completion of the 2025 field program.
• The program included five diamond drill holes totaling 1,797.1 meters south of the Liard zone, with four holes intersecting variable intervals of discontinuous copper mineralization; analytical results are currently pending.
• The company anticipates transitioning the project from the scoping stage to a Prefeasibility Study (PFS) in early 2026, subject to meeting specific risk-adjusted return criteria aligned with partner Teck Resources' capital allocation framework.

Key Details

• Drilling Results:
  • Five diamond drill holes completed, totaling 1,797.1 meters.
  • Location: Area south of the Liard zone.
  • Intersections: Four of the five holes intersected variable intervals of discontinuous chalcopyrite and/or bornite mineralization.
  • Status: Core samples submitted for analysis; results are pending.
• Geophysical Surveys:
  • Electrical resistivity tomography: 13,310 meters completed.
  • Seismic refraction: 6,825 meters completed.
  • Purpose: Mapping overburden thickness for proposed rock storage facilities.
  • Status: Modeling expected to be completed by year-end.
• Environmental and SERA Studies:
  • Archeological investigations conducted by TEEM Archeology with Tahltan Cultural Monitors.
  • Baseline studies conducted for hydrology, hydrogeology, glaciers, and meteorology.
• Geometallurgical Testwork:
  • Sulphide flotation testwork shows variability in copper recovery in certain spatial areas.
  • Preliminary interpretation suggests minor copper oxides and low liberation of copper sulphides in variable zones.
  • Coarse particle flotation testwork has commenced on a composite sample from the Liard zone (selected for low variability and early mine life positioning).
• Project Timeline:
  • Transition to Prefeasibility Study (PFS) stage expected to commence in early 2026.
  • Condition: Must meet stringent criteria for attractive risk-adjusted returns in alignment with Teck Resources' capital allocation framework.
• Project Structure:
  • Schaft Creek Joint Venture (SCJV).
  • Teck Resources Ltd.: 75% interest, Operator.
  • Copper Fox Metals Inc.: 25% interest.

Notable Quotes

• "We are pleased on the progress made toward advancing the Schaft Creek project. The drilling and geophysical surveys in the proposed rock storage facilities provide greater certainty on these critical infrastructure components of the project. Until the analytical results of the core samples have been received, the significance of the mineralized intervals reported in this news release is uncertain. Results of the studies and analytical results from the drilling will be released on receipt." — Elmer B. Stewart, President and CEO