Copper Fox Announces Plans to Advance Van Dyke Project

Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (FSE: HPU) ('Copper Fox' or the 'Company'), through its wholly owned subsidiary Desert Fox Copper Inc., are pleased to provide 2022 plans to advance its 100% owned Van Dyke copper project located in the Globe-Miami Mining District, Arizona.

The Van Dyke project is an in-situ copper recovery ('ISCR') project, located in a Tier 1 mining jurisdiction surrounded by existing infrastructure. In early 2021, a Preliminary Economic Assessment, prepared in accordance with National Instrument 43-101, (click here for the News Release) suggested that the project should be advanced to the Preliminary Feasibility Stage and has the potential to become a mid-tier copper mine. Highlights of the proposed 2022 program are set out below:

Highlights:

• A two-phase program has been prepared with the objective of establishing a broad network of hydrogeological monitoring and testing locations that will be used to collect hydrogeological and water quality data. The proposed hydrogeological field monitoring and testing program will help to support federal and state regulatory applications that will be needed to advance the Project.
• Phase I activities consist of:
  • archeological, cultural, and biological surveys, these surveys are currently underway in advance of initiating field activities to ensure compliance with State and Federal statutes,
  • investigate the potential of rehabilitating existing drill holes to establish hydrogeological monitoring sites, and
  • a comprehensive testing program on the rehabilitated drill holes.
• Ausenco Engineering Canada Inc., supported by Ausenco Engineering USA South Inc., has been retained to provide technical supervision of Phase I activities.
• Phase II activities include a drilling program to collect additional hydrogeological and other data to advance the project to the Preliminary Feasibility Stage.
• The cost of Phase I activities is estimated to be US$240,000. The costing of Phase II activities would be completed prior to commencing activities.

Elmer B. Stewart, President and CEO of Copper Fox stated, "Adopting a staged, multi-purpose approach is a capital effective mechanism to advance the Van Dyke project to the Preliminary Feasibility Stage. The Phase I activities are designed to establish a base on which to advance the project to Phase II which includes additional drilling designed to expand the hydrogeological monitoring system and collection of data related to resource expansion/upgrading and metallurgical and geotechnical aspects of the project. Copper Fox's activities are conducted on a transparent and inclusive basis in line with its ESG policy guidelines."

Archeological, Cultural and Biological Studies:
Compliance with State and Federal statutes is a fundamental aspect of project development. To ensure that planned activities are protective of any sites that may have archeological and cultural significance, and to avoid any adverse impacts to plant and animal communities present within the project area, surveys covering these important aspects of project development are underway.

Phase I:
The 2022 program is designed to establish new hydrogeological monitoring sites utilizing existing drill holes where possible. The 2022 program will investigate the possibility of rehabilitating these wells as future hydrogeological monitoring sites. If it is determined that these wells can be rehabilitated, then testing of these drill holes to establish a baseline for water levels and quality would follow which would vastly improve the current understanding of the hydrogeological setting for the Project site.

The proposed testing program is expected to establish the range of hydraulic properties of the primary groundwater bearing units and structures, groundwater flow directions (vertical and horizontal hydraulic head distribution), communication of flows between geological units (boundary conditions), as well as hydrogeologic influences from historical and current mining workings located on adjacent properties and on the Project site itself.

The data obtained from Phase I activities (monitoring and testing) would support the development of a conceptual 3D numerical groundwater model and identify areas of uncertainty and guide a second phase of field work to further refine the model for the purpose of supporting potential future regulatory applications.

Existing Monitoring Well Rehabilitation and Surveying:
Three inactive monitoring locations (drill holes VD14-2, VD14-3, and VD-14-5) and five inactive wells (drill holes M-5, M-6, OXY-42, OXY-43, and OXY-47A), as well as the existing Van Dyke mine shaft have been selected for surveying using a downhole video camera to document and assess the potential of re-entering and instrumenting these drill holes. Assuming positive results from the downhole video survey:

1. The OXY wells may be re-developed utilizing surge, bail, airlifting and pumping methods and also tested to confirm hydrogeological characteristics.
2. Groundwater sampling of the OXY wells and Van Dyke mine shaft for water quality.
3. Wellheads will be upgraded to ensure protection from debris, surface water, and vandalism.
4. Installation of pressure transducers and data loggers in each well and the mine shaft to collect groundwater levels and to monitor changes over time as part of ongoing baseline data collection.
5. Quarterly downloads of transducer data and groundwater sampling and analyses.

For drill holes VD14-2, VD14-3, and VD-14-5; the condition of previously installed Vibrating Wire Piezometers(VWP) installations and data loggers will be inspected, and any repairs or maintenance undertaken. The goal will be to put the VWPs back into active operation to support ongoing data collection if possible and quarterly data downloads.

Phase II:
Upon completion of the Phase I activities, Phase II will consist of the installation of at least eight new groundwater monitoring well clusters. (each cluster consisting of three drill holes) to establish a broader hydrogeological monitoring system to conduct ongoing data collection that will include water level data, groundwater quality sampling, and pump tests of various durations (i.e., 48 (forty-eight) hours, one week, and one month) at selected locations. The purpose of the test work will be to collect data on the:

1. hydraulic properties of identified aquifers (including transmissivity, hydraulic conductivity, storability) as well as identifying the properties of aquitards that may act to limit flow in layered systems,
2. evaluate well performance, and
3. identify aquifer boundaries.

The results of the pump testing can be used to improve the understanding of the hydrogeological conceptual model for the Project site, as well as improve the accuracy of the groundwater numerical model.

Refinement of Hydrogeological Conceptual Model:
The development of a conceptual hydrogeological model for the Project is in progress and relies on the existing geological model as a starting point. As the Phase I and II field data are collected, the conceptual model forms the basis for the development of a numerical 3D hydrogeological model that will be used as a predictive tool for project. The development of the numerical model will be an ongoing iterative process that will help to decrease regulatory risk and improve both mining and environmental performance. The predictions provided by the model will support Project design, operations, and closure/post-closure planning. The development of an accurate and detailed numerical hydrogeological model is a key requirement that will support the preparation of future permit applications which will be subject to expert technical reviews conducted by federal and state authorities.

Elmer B. Stewart, MSc. P. Geol., President, and CEO 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.

About Copper Fox:
Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSXV: CUU) 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 the 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 https://www.copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart
President and Chief Executive Officer

For additional information contact:

Lynn Ball: investor@copperfoxmetals.com
(844) 464-2820 or (403) 264-2820

Neither the 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 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 includes statements regarding; advancing the Van Dyke project to the Preliminary Feasibility Stage; the project having potential to be a mid-tier copper mine; adoption of a two-phase program being capital effective; Phase I establishing a base to advance to Phase II; rehabilitating existing drill holes.

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 advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards and the reliability of historical reports. 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 surveys may not provide the information needed to advance the project; the existing drill holes may not be able to be rehabilitated; Phase I program may not be completed as planned or at all; the cost of Phase I, estimated at US$240,000, may not be sufficient to cover the cost of the activities; Phase II program may not be completed as planned or at all; the financial markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130683