Mineral Mountain Copper Project Updated Compilation And Magnetic Data

CALGARY - Copper Fox Metals Inc. and its wholly owned subsidiary, Desert Fox Copper Inc. reported on the updated compilation and 3D modeling of the magnetic data on the Mineral Mountain project located approximately 25kms (15 miles) east of Florence, Arizona. The compilation incorporates the results of the recently completed high resolution airborne magnetic and radiometric survey. 3D modeling has identified a potential cupola underlying the project area, with several, cylindrical, "pipe-like" intrusives exhibiting a positive magnetic signature. Two of these pipe-like bodies show a strong spatial correlation to the area of coincident copper-molybdenum mineralization/porphyry style alteration/chargeability anomaly outlined to date; the other pipe-like bodies, while larger in size are not-mineralized. The area previously referred to as Target #2 is related to a regional scale NE trending [030O] structural feature and not considered to be a porphyry target. The near surface, higher chargeability portion (+/-300 -550m wide) of the positive chargeability anomaly [2,900 meter ('m') long by 1,300m wide] identified in 2021, exhibits a strong spatial correlation to the mineralized pipe-like intrusives.

Elmer B. Stewart, President, and CEO, said, "The compilation and magnetic modeling has outlined an interpreted positive magnetic feature similar to the generally accepted model for formation of porphyry copper deposits. The compilation shows the positive relationship of the copper-molybdenum mineralization, potassic/phyllic alteration and chargeability signature to several interpreted late stage intrusives. The compilation indicates that additional deep penetrating geophysical surveying is required to better define the geometry of the chargeability/resistivity signature associated with the porphyry system prior to selecting future drill targets."

3D magnetic modeling of the 2022 airborne magnetic data has outlined a positive magnetic feature interpreted to be the upper portion (cupola) of a larger, deep seated intrusive. The modeling shows a number of pipe-like, magnetic bodies ranging in size from approximately 200m x 500m to 750m x 1,800m within the Laramide age intrusive above the interpreted cupola; several of which are associated with a large area of copper-molybdenum mineralization, a positive chargeability signature and potassic/phyllic alteration typically of a porphyry copper system. The Laramide age intrusive generally exhibits a low magnetic susceptibility.

The chargeability anomaly identified by the 2021 Induced Polarization survey shows a steeply dipping 300m to 550m wide, greater than 5mv/s chargeability signature at surface with the chargeability signature increasing at depths ranging from 250m to 400m to greater than 7.5mv/s. The location the 5mv/s chargeability signature exhibits a strong spatial correlation to copper-molybdenum mineralization and the late stage intrusives.