Calgary, Alberta--(Newsfile Corp. - March 24, 2025) - Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU)("Copper Fox" or the "Company") is pleased to announce that its unaudited interim consolidated January 31, 2025, financial statements have been filed on SEDAR+.
All the Company's subsidiaries are wholly owned.
For the Quarter ended January 31, 2025, Copper Fox had a net loss of $236,962 (January 31, 2024 - $230,877) which equated to $0.00 loss per share (January 31, 2024 - $0.00 loss per share).
During the Quarter ended January 31, 2025, the Company incurred $475,709 (excluding foreign exchange effects) in expenditures toward furthering the development of its Schaft Creek and Van Dyke copper projects as well as exploration of its Eaglehead, Sombrero Butte and Mineral Mountain copper projects. The financial statements, notes, and related management discussion and analysis may be obtained on SEDAR+ at www.sedarplus.ca, the Company's website at www.copperfoxmetals.com or by contacting the Company directly. All references to planned activities and technical information contained in this news release have been previously announced by way of news releases. All amounts are expressed in Canadian dollars unless otherwise stated.
Elmer B. Stewart, President and CEO of Copper Fox, stated, "The increased demand for critical minerals, and the recently signed US critical mineral executive order, uniquely positions our advanced and exploration stage copper projects located in the prolific Laramide age porphyry copper belt of southwestern USA to participate in the forecasted increasing demand.
With the robust economics, low capital intensity and economic benefits set out in the 2020 Preliminary Economic Assessment (PEA) in hand, Copper Fox is committed to advancing the Van Dyke project to the preliminary feasibility study (PFS) stage. Completion of the Conceptual Site Model (CSM) for the project allows Copper Fox to accelerate its activities related to infrastructure, environmental, hydrogeological, and other technical studies to advance the project toward the PFS stage.
During the Quarter, working with the Bureau of Land Management (BLM), we have advanced the permitting process to obtain a permit to conduct a "maiden" drill test of the large copper porphyry target outlined at Mineral Mountain. At Sombrero Butte our exploration activities, which included DCIP and MT geophysical surveys, significantly upgraded the copper porphyry potential of the project by identifying a very large, near surface, deep rooted copper porphyry target.
At Schaft Creek, the 2025 budget and program is focused on two key infrastructure areas of the project that have not yet been investigated by the SCJV. Data from the 2025 program is required before a decision could be made to transition the project to the PFS stage. The main objective of the 2025 program is focused on completing the activities required to transition the project to the PFS stage."
2025 Q1 Highlights
Results from the Schaft Creek 2024 geotechnical drilling program, highlights include:
Four of the six geotechnical drillholes were completed along the east side of the Paramount zone referred to as the 'highwall" and two drillholes were completed on the west side of the Paramount zone.
The mineralization intersected in DDH SCK-24-472 extended the mineralization in the Paramount zone approximately 250 meters (m) to the north.
Analytical highlights include:
DDH SCK-24-471, intersected a core interval of 134.60m (21.60 to 156.20m) that averaged 0.338% copper, 0.037% molybdenum, 0.058 g/t gold and 0.78 g/t silver that included a 63.80m core interval (59.20 to 123.00m) that averaged 0.437% copper, 0.066% molybdenum, 0.050 g/t gold and 1.11 g/t silver.
DDH SCK-24-472, intersected a core interval of 208.64m (406.10 to 614.74m) that averaged 0.253% copper, 0.014% molybdenum, 0.115 g/t gold and 0.88 g/t silver.
DDH SCK-24-476, intersected a core interval of 202.60m (189.70 to 392.30m) that averaged 0.324% copper, 0.023% molybdenum, 0.044 g/t gold and 1.68 g/t silver that included a 14.40m core interval (196.80 to 211.20m) that averaged 0.634% copper, 0.104% molybdenum, 0.092 g/t gold and 3.48 g/t silver.
The other three geotechnical drillholes were not expected to intersect mineralization due to their locations and returned background metal concentrations.
Teck presented the 2025 Schaft Creek $15.8 million budget and program focused on transitioning the project to the PFS stage. Activities undertaken during Q1-2025 included geological, geo-metallurgical, and geotechnical activities related to resource estimation, pit slope stability and metallurgical performance predictions along with preparations for the 2025 field season. Activities planned in 2025 include updating models related to pit slope stability, resource estimation, metallurgical performance and geotechnical investigation of the tailing and waste storage areas.
Final results of the geophysical surveys completed at Sombrero Butte, when combined with the geological and alteration mapping an outline of a very large, near surface, deep rooted copper porphyry target has been identified. The objective in 2025 is to advance the project to the drilling stage, at which time a Geologic Field Operation Plan (GFOP) would be submitted to obtain a permit to conduct drilling operations.
At Mineral Mountain, an amended draft Environmental Review (ER) report was submitted to the BLM. On completion and acceptance of the ER, a 30-day public comment period is required before the BLM would be able to decide on issuing the drilling permit.
At Van Dyke, hydrogeological monitoring, water sampling and preparation of the CSM continued during the Quarter. The time frame for completion of the CSM has shifted to Q2-2025. The water sampling data is in line with historical results.
Subsequent to the Quarter End
Closing of a $1.5 million non-brokered private placement.
The investor relations contract with Fidel Ricardo Montagu Thomas will terminate on April 30, 2025. The Company thanks Fidel for the services provided over the past year. The Company is currently assessing its investor relations plans which will be announced when finalized.
Elmer B. Stewart, MSc, P.Geo, President of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
Selected Financial Results
3 Months Ended
3 Months Ended
3 Months Ended
3 Months Ended
January 31, 2025
October 31, 2024
July 31, 2024
April 30, 2024
Loss before taxes
$
236,962
$
261,484
$
293,185
$
302,668
Net loss
236,962
(219,427)
293,185
302,668
Comprehensive (gain) / loss
(461,245)
(402,630)
199,185
(167,104)
Comprehensive loss per share, basic and diluted
0.00
0.00
0.00
0.00
3 Months Ended
3 Months Ended
3 Months Ended
3 Months Ended
January 31, 2024
October 31, 2023
July 31, 2023
April 30, 2023
Loss before taxes
$
230,877
$
232,117
$
348,787
$
254,018
Net loss
230,877
232,117
348,787
254,018
Comprehensive (gain) / loss
905,445
(602,417)
870,509
(43,966)
Comprehensive loss per share, basic and diluted
0.00
0.00
0.00
0.00
Liquidity
As at January 31, 2025, the Company's cash position was $158,394 (October 31, 20243- $785,184) and as of the date of this News Release the Company's cash position is $1,380,939.
About Copper Fox
Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox's other mineral properties and investments visit the Company's website at www.copperfoxmetals.com.
Elmer B. Stewart President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking information within the meaning of the Canadian securities laws (collectively, "forward-looking information"). Forward-Looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-Looking information in this news release include statements regarding; the Company participating in the forecasted increased demand for critical metals; completion of a CSM at Van Dyke; advancing the Van Dyke project to the PFS stage; advancing the permitting process at Mineral Mountain; significantly upgrading the copper porphyry potential at Sombrero Butte by identifying a very large, near surface, deep rooted copper porphyry target; data from the Schaft Creek 2025 program transitioning the project to the PFS stage; updating various models at Schaft Creek; obtaining a permit for a maiden drill program at Mineral Mountain; advancing the Sombrero Butte project to the drilling stage.
In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the geological, financial, and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; and the stability of economic and market conditions. While Copper Fox considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Copper Fox's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the CSM on the Van Dyke project may not be completed as planned or at all; the Van Dyke project may not progress to the PFS stage; the permit for the maiden drilling program at Mineral Mountain may not be granted; the Sombrero Butte project may not proceed to the drilling stage; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; the Schaft Creek 2025 work program may not be completed as planned or at all; the Schaft Creek project may never progress to the PFS stage; copper prices and demand may fluctuate; currency exchange rates may fluctuate; conditions in the financial markets may deteriorate; and uncertainty as to timely availability of permits and other governmental approvals.
A more complete discussion of the risks and uncertainties facing Copper Fox is disclosed in Copper Fox's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Copper Fox disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
