Liquidity

As at October 31, 2022, the Company's cash position was $1,368,852 (October 31, 2022- $132,192) and as of the date of this News Release the Company's cash position is $912,900.

Elmer B. Stewart, President and CEO of Copper Fox, stated, "2023 was a pivotal year with the completion of the Mineral Resource Estimate at Eaglehead and the completion of the C$17.2 million, geotechnical, and metallurgical program at Schaft Creek, this is the largest program and budget on the project since inception of the Schaft Creek Joint Venture. The Mineral Resource Estimate at Eaglehead significantly increased Copper Fox's metal balance and demonstrated the potential of this project to become a significant porphyry deposit and supply of copper in the future. Other achievements in 2023 included mitigation of several operational issues that would significantly impact copper production at Van Dyke and advancing Mineral Mountain to the drilling stage. 

"As we enter 2024, the results from the 2023 Schaft Creek program are being processed and we await delivery of these results as well as notification of Teck Resource Limited's ("Teck") 2024 Schaft Creek program and budget, this is expected to be received by the end of February. At Van Dyke, the current drillhole rehabilitation and geotechnical work is progressing and is expected to be completed in April, at which time the next phase of activities would be planned. The Company is in the process of obtaining a permit to conduct a maiden drill program at Mineral Mountain and an extension of the existing Mines Act permit to conduct an "infill" drilling program at Eaglehead."