Copper Fox Metals Inc. (TSXV:CUU), Ni 43 101, 4th May, 2020

• Copper Fox Metals Inc. (TSXV:CUU)
• Update For The Van Dyke Copper porphyry copper deposits, Arizona

Cu Metal (Mlbs):

• Indicated: 717
• Inferred: 1,007

Copper Fox Metals Inc. (Copper Fox) retained
Moose Mountain Technical Services (MMTS) to prepare a National Instrument 43-101
(NI 43-101) Technical Report and Updated Resource Estimate for the Van Dyke
Copper Project (the “Project”), Gila County, Arizona, U.S.A. The Mineral
Resource Estimate for the Van Dyke deposit has been prepared by Bob Lane, P.Geo
and Sue Bird, P.Eng. of Moose Mountain Technical Services (MMTS). Updated
assays and re-interpretation of the geology model since the previous Resource
Estimate have resulted in the need for an update.

Copper Fox Metals Inc. (Copper Fox) and its
wholly owned subsidiary Desert Fox Copper Inc. (Desert Fox) have been involved
in exploration at the Van Dyke deposit intermittently since 2013.

The Resource Estimate of the Van Dyke deposit
with an effective date of January 9, 2020 is listed in Table 1-1. Mineral
resources are estimated within both a 0.025% Recovered Cu grade shell and
within a “reasonable prospects for eventual economic extraction” shape, which
includes internal dilution or all “must take” material within the confining
shape.

The mineral resources are estimated using criteria
consistent with the CIM Definition Standards (2014) and the “CIM Estimation of
Mineral Resources and Reserves Best Practice Guidelines” (2019).

In order to account for 12.7 Mlbs of Cu removed during historic mining operations,
it has been assumed that all previous mining occurred in the Oxide Zone. The
tonnage has been reduced by the amount required to reduce the total resource by
the mined amount, with the average grades remaining constant.