Copper Fox Metals Inc. announced the results of an updated mineral resource estimate (MRE) on its 100% owned Eaglehead copper-gold-molybdenum-silver porphyry copper project located in northwestern British Columbia. The MRE was prepared by Moose Mountain Technical Services (MMTS) in accordance with National Instrument 43-101 (NI 43-101) standards (May 9, 2016), CIM Definition Standards (May 19, 2014) with guidance from CIM Best Practice Guidelines (November 29, 2019). Geological Model: Eaglehead is an early Jurassic calc-alkaline Cu-Mo-Au-Ag porphyry deposit located approximately 50 kilometers (km) east of Dease Lake hosted in the prolific Quesnel terrane in northwestern British Columbia, Canada.

The East and Bornite zones are underlain by porphyritic biotite granodiorite intruding quartz porphyry and hornblende quartz diorite. The mineralization outcrops below the glacial overburden and is open at depth and both across and along strike. The copper mineralization is associated with potassic and texturally destructive sericite-chlorite alteration hosted in crosscutting, multi-phase quartz-sulphide veins and quartz vein stockworks that contain significant concentrations of gold-molybdenum-silver.

The most intense alteration and highest copper grades are related to zones of increased vein and fracture density and late-stage magmatic breccia. Chalcopyrite, bornite, and pyrite also occurs as disseminations in the host rock. The Pass and Camp zones are underlain by porphyritic biotite granodiorite and quartz porphyry intruded by generally thin, 2-5 meter (`m'), crowded quartz feldspar and quartz feldspar porphyry dikes.

In general, these zones were drill tested by shallow drilling (+/-150m vertical) with only two drill holes located on the south side of the Pass zone extending to significant depth (+/- 500m). Near surface, the dominant copper sulphide is chalcopyrite. The mineralization is primarily copper-silver with sporadic gold-molybdenum concentrations increasing at depth.

The copper mineralization is associated with texturally destructive sericite-chlorite and lesser amounts of potassic alteration. Propylitic alteration is dominant outward of the sericite-chlorite and potassic alteration. Chalcopyrite occurs primarily in crosscutting, multi-phase quartz-sulphide veins and quartz vein stockworks.

At depth in the two deep drill holes in the Pass zone the chalcopyrite bearing veins contain increasing concentrations of bornite and molybdenite. The most intense alteration and highest copper grades are related to zones of increased vein and fracture density. Chalcopyrite, pyrite, and trace bornite also occurs as disseminations in the host rock.