Copper Fox Announces 2022 Second Quarter Operating And Financial Results |

Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased to announce that its unaudited interim consolidated April 30, 2022, financial statements have been filed on SEDAR.

For the six months ended April 30, 2022, Copper Fox had a net loss of $612,002 (April 30, 2021 - $542,580) which equated to $0.00 loss per share (April 30, 2021 - $0.00 loss per share).

During the six months ended April 30, 2022, the Company incurred $376,743 in expenditures primarily furthering the development of the Mineral Mountain, Sombrero Butte, Eaglehead, Van Dyke and Schaft Creek copper projects. Copies of the financial statements, notes, and related management discussion and analysis may be obtained on SEDAR at www.sedar.com, the Company's web site 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.

During the next quarter, activities will focus on the drilling and metallurgical programs for the Schaft Creek and Eaglehead projects and ground verification of the results of the airborne surveys on the Mineral Mountain and Sombrero Butte projects. At Van Dyke, barring any unforeseen additional delays, receipt of the recommendations and estimated activity costs from the hydrogeological/process/resource contractors is expected during the quarter. The initial focus of the 2022 Van Dyke program would be completion of archaeological/fauna/flora studies to establish a baseline for the project prior to commencing physical activities. Mobilization for the 2022 field programs at Schaft Creek and Eaglehead typically commence in early June, these could be delayed due to heavy snow conditions, resulting from a late spring thaw.

Elmer B. Stewart, President and CEO of Copper Fox stated, "Our focus in 2022 is to position the Company to take advantage of the anticipated need for specialty metals; specifically copper to advance the "green economy" through a combination of investigating project enhancements at Schaft Creek and Van Dyke, drilling to advance the Eaglehead project to a resource estimate stage and selection of future drill targets at Mineral Mountain and Sombrero Butte. At Eaglehead, positive results from the drilling program potentially could lead to a resource estimation toward the end of 2022 or early 2023 and provide samples for additional metallurgical testwork to better define metallurgical variability and metal recoveries for the mineralization. During the Quarter, Copper Fox expects to announce its 2022 program for the Van Dyke project."

Subsequent to the Period End

Elmer B. Stewart, MSc. P. Geol., 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.

To view an enhanced version of this table, please visit: https://orders.newsfilecorp.com/files/2177/126848_table1.jpg

As at April 30, 2022, the Company's cash position was $1,314,535 (October 31, 2021 - $2,646,608).

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 www.copperfoxmetals.com.

For additional information please contact Lynn Ball at 1-844-464-2820 or 1-403-264-2820.

On behalf of the Board of Directors,

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

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; that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are reasonable; the costs and results of planned exploration activities are as anticipated; 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; the $6.6 million budget and program for the Schaft Creek project may not be completed as planned or at all or achieve the desired results; the 2022 work program at Eaglehead may not be completed as planned or at all; the Mineral Mountain and Sombrero Butte geophysical surveys may not achieve the desired results; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; copper prices and demand may fluctuate; currency exchange rates may fluctuate; conditions in the financial markets may deteriorate; trading prices of the Company's common shares may decrease below the exercise price of any outstanding warrants of the Company; 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.

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Copper Fox Metals Inc. (TSXV:CUU,OTC Pink:CPFXF) is a Canadian resource development company focused on value creation through the acquisition, exploration and development of potentially low-cost, large polymetallic porphyry copper projects in North America. The company holds a 25 percent carried interest in the Schaft Creek joint venture project with Teck Resources Limited (TSX:B) in British Columbia and a 100 percent interest in three additional projects in the US.

According to the US Geological Society, copper is the third most consumed industrial metal in the world. The red metal is well known for its high ductility and electrical conductivity, making it an important part of the renewable energy and electric vehicle (EV) revolutions. Global copper demand reached 23.6 million tons in 2018 and is expected to reach 30 million tons by 2027, according to an article by Forbes. However, analysts are predicting that supply is not going to be able to keep up with demand, making it essential for new projects to be put into production.

With this in mind, Copper Fox is focusing its efforts on its advanced-stage copper project, more specifically, the Schaft Creek copper project in British Columbia. The project has a 2013 feasibility study that outlines a proven and probable mineral reserve of 940.8 million tonnes grading 0.27 percent copper, 0.19 g/t gold, 0.18 percent molybdenum and 1.72 g/t silver. The feasibility study forecasts annual production of 105,000 tonnes of copper, 201,000 ounces of gold, 1.2 million ounces of silver and 10.2 million pounds of molybdenum once the property is put into production.

The Schaft Creek joint venture (SCJV) is investigating a 133,000 tonne per day mining scenario at the Schaft Creek project. The SCJV has dedicated C$2.1 million to trade-off studies related to that mining scenario including a review of the permitting and environmental requirements needed for the 133,000 tonnes per day scenario as well as new engineering improvements and collecting additional baseline environmental data.

Next in the company’s project pipeline is the development of the Van Dyke copper project in Arizona. Copper Fox released a preliminary economic assessment (PEA) in November 2015 that returned several recommendations for optimizing the project’s economics. In March 2020 the company announced the results of an updated resource estimate for the project that was prepared by Moose Mountain Technical Services. Highlights of the resource estimate include 97.6 million tonnes, grading 0.33 percent total copper and 0.24 percent total recovered soluble copper containing 717 million pounds of total copper and 517 million pounds of recoverable soluble copper in the indicated category.

Copper Fox is also advancing its exploration-stage Mineral Mountain and Sombrero Butte copper projects in Arizona. Both projects reside in well-defined major porphyry copper belts in Arizona that host large porphyry copper deposits, such as the Resolution, Ray, San Manuel and Kalamazoo deposits.

Copper Fox also owns 24.4 percent of the issued and outstanding shares of District Copper Corp. (TSXV:DCOP), providing its shareholders with exposure to a gold project in Newfoundland. In early 2019, District Copper diversified its project portfolio by acquiring the Stony Lake gold project in Newfoundland. The company also owns the Eaglehead copper-molybdenum-gold project in British Columbia, which has recently been placed on care and maintenance.

Schaft Creek Joint Venture Project — British Columbia

The Schaft Creek project is an advanced stage porphyry copper-gold-molybdenum-silver project in northwest British Columbia. The project comprises approximately 55,779.56 hectares in the Cassiar-Liard mining division located 278 kilometers from the Port of Stewart, North America’s closest deep-water seaport to China.

In July 2013, Copper Fox and Teck executed a joint venture agreement whereby Copper Fox holds a 25-percent carried interest in the Schaft Creek Joint Venture (SCJV) and Teck holds 75 percent along with operatorship. Since 2013, the SCJV completed additional geotechnical studies, diamond drilling, collected environmental baseline data and an updated geological model for the project.

First discovered in the late 1950s, Schaft Creek has an extensive exploration history including the completion of 444 drill holes totaling 108,459 meters. The deposit contains three mineralized zones: the Liard zone (also referred to as the Main zone), the West Breccia zone and the Paramount zone.

Copper Fox completed a feasibility study on the property in January 2013. Highlights of the study include:

The feasibility study was based on a proven and probable reserve of 940.8 million tonnes grading 0.27 percent copper, 0.19 g/t gold, 0.18 percent molybdenum and 1.72 g/t silver, containing 5.6 billion pounds of copper, 5.7 million ounces of gold, 363.5 million pounds of molybdenum and 51.7 million ounces of silver. From this, Copper Fox expects annual production of 105,000 tonnes (232 million pounds) of copper, 201,000 ounces of gold, 1.2 million ounces of silver and 10.2 million pounds of molybdenum over the life of mine.

The feasibility study also included a measured and indicated resource of 1.2 billion tonnes grading 0.26 percent copper, 0.017 percent molybdenum, 0.19 g/t gold and 1.69 g/t silver and an inferred resource grading 0.22 percent copper, 0.016 percent molybdenum, 0.17 g/t gold and 1.65 g/t silver. The proven and probable reserves are included in the measured and indicated resources.

In 2014, the SCJV commenced a series of optimization studies to advance the project, including metallurgical, pit slope design, geological modeling and environmental monitoring. Fieldwork conducted at this time led to the discovery of the copper-gold mineralization in the LaCasse zone.

In 2015, the SCJV completed studies that were focused on daily throughput rates, mine and infrastructure planning, water management, updating the resource model and tailings storage. Optimization studies also included a comminution study to determine power requirements, milling capacity and circuit design, Geomet Unit definition, generation of new Whittle pits and preparation of mine schedules.

The SCJV also completed re-logging approximately 43,000 meters of drill core from the Schaft Creek deposit. The company also completed surface mapping and geochemical and geophysical surveys on the property that identified several new exploration targets to the north and south of the deposit.

The Conceptual infrastructure of Schaft Creek deposit based on 2013 feasibility study

The following year, the SCJV used drilling results from 2013 and re-logged drill core information to update that resource model for the Schaft Creek deposit with an emphasis placed on better understanding the controls on the copper and precious metals. In 2017, the SCJV completed resource remodeling, desktop engineering and trade-off studies, collection of environmental baseline data, applied for a multi-year area-based permit and engaged in social activities with the Tahltan Nation.

The positive outcome of the 2017 work program formed the basis of the 2018 sizing and infrastructure alternative study. The study investigated four sizing scenarios targeting capital, operating and sustaining cost reductions, a higher-grade initial starter pit and other ways to improve project economics. The final report suggested that a 133,000 tonnes per day scenario should be selected for in-depth study in 2019.

In 2019, the SCJV dedicated C$2.1 million to evaluate the identified engineering improvement options further to reduce capital and operating costs assuming the 133,000 tonnes per day throughput case. The 2019 program also includes a review of the site characteristics of potential revisions to key infrastructure elements, such as tailing storage, conveyance systems, ore and waste transport options and mill location based on a 133,000 tonnes per day throughput case.

Van Dyke Copper Project – Arizona

Copper Fox holds a 100-percent interest in the 1,312.8-acre Van Dyke in-situ leach (ISL) copper project. The property is located in the Globe-Miami mining district, 90 miles east of Phoenix, Arizona. The district is located along the Globe-Miami and Casa Grande structural trend, which hosts the Casa Grande, Florence, Ray, Resolution and Globe-Miami copper deposits.

The Van Dyke copper deposit is located within the Globe-Miami mining district, which hosted four principle orebodies: Live Oak, Thornton, Miami Caved and Miami East. The property was first explored and developed in the early 1900s. Between 1929 and 1945, the Van Dyke property was in production and reportedly produced 11.8 million pounds of copper with a grade of five percent copper.

In January 2015, Copper Fox completed a NI 43-101 resource estimate for the project reporting an inferred resource estimate of 261.7 million tonnes grading 0.25 percent copper at a 0.05 percent copper cut-off (estimated 1.44 billion pounds of copper) and completed a PEA for the Van Dyke deposit in December 2015.

The 2015 PEA is the first NI 43-101 engineering technical study completed on the project and suggests that Van Dyke is a technically sound ISL copper project, using underground access, conventional solvent extraction and electrowinning (SX-EW) recovery methods with low cash costs, strong cash flows and an after-tax internal rate of return (IRR) of 27.9 percent.

2015 PEA Highlights (based on US$3 per pound copper):

“The PEA has fulfilled its purpose and indicates that the project warrants more detailed testing and engineering,” said Stewart. “The PEA has identified several aspects that, with positive results from the updated resource estimate along with additional testing and engineering, could extend the mine life and significantly increase project economics, indicating that Van Dyke could become a strong project in the mid-size copper development space.”

The 2015 PEA identified several aspects of the project that could have a positive impact on the project’s economics. The report also recommended that a pre-feasibility study should be completed to move the project forward.

Between 1968 and 1980, Occidental Minerals Corporation drilled 70 exploration holes (62 of which encountered measurable copper mineralization) on the Van Dyke property. Forty-six of these were used to estimate a historical resource of 112 million tons at a grade of 0.52 percent copper. Occidental also conducted two ISL tests on the Van Dyke oxide copper deposit. Results of Occidental’s ISL tests were positive.

In July 2014, Copper Fox completed a six-hole (3,211.7-meter) verification diamond drill program on the Van Dyke oxide copper deposit. All six drill holes intersected oxide copper mineralization over broad intervals with the soluble copper concentrations to total copper concentration ratio ranging from 73 percent to 97 percent. Based on modeling completed after the 2014 drilling program, the deposit is interpreted to be open to the west.

In late 2014, Copper Fox announced the results of in-situ pressure leaching tests on samples of the oxide copper mineralization from the Van Dyke deposit. The objectives of the test work were to evaluate copper dissolution kinetics, total soluble copper extraction (recovery), acid consumption and to simulate the underground hydraulic pressure in an in-situ leaching process. The test work indicated that approximately 89 percent of the copper contained in the samples reports as soluble copper with copper extractions averaging 63 percent over a 120 day leach period.

In 2019, Copper Fox commenced a program to re-analyze all historical pulp samples and selected core intervals. The objectives of the program were to define the full extent of the soluble copper envelope for the Van Dyke deposit and to update the geological model for the project. Initial results show a 29 percent increase in acid-soluble copper concentration and thicker mineralized intervals when compared to the project’s original database.

The results from the analytical program and an updated geological model form the basis for the updated resource estimate for the Van Dyke deposit. Copper Fox retained Moose Mountain Technical Services to complete the updated resource estimate, which was released in March 2020. Highlights from the resource estimate include:

The 2019 re-assay program conducted by Copper Fox and updated geologic interpretation resulted in a significant increase in contained soluble copper within the Van Dyke copper deposit when compared to the previous 2015 estimate. The mineralized envelope of the Van Dyke copper deposit is open to the south and southwest. Moving forward, the company intends to continue to explore the property in order to define unknown zones of mineralization.

“The 2019 work program has increased the confidence level in the project resources and significantly increased the recoverable soluble copper content of the Van Dyke deposit. The 2019 review of historical exploration data combined with the current resource estimation, indicates the deposit could be open to the south and southwest with a possible strike extension of between 1 and 2 kms. Additional drilling will be required to realize this potential and to define the un-explored portions of the Van Dyke deposit,” said Stewart.

Mineral Mountain Copper Project – Arizona

Copper Fox has 100-percent ownership of the 4,905-acre Mineral Mountain copper project located east of Florence, Arizona. The Laramide porphyry copper province in Arizona is one of the most prolific copper mineralized districts in the world. The Globe-Miami, Resolution, Florence and Casa Grande copper districts are located in central Arizona and occur along a northeast trend. The Mineral Mountain copper project is located on this trend between the Florence and Resolution copper deposits.

“The discovery of new porphyry copper districts in geopolitically stable areas is fundamental to the future of the copper industry,” explained Stewart. “The Mineral Mountain project exhibits the surface characteristics of a buried porphyry copper deposit and provides Copper Fox considerable exposure to copper exploration in the Laramide porphyry copper province of Arizona in an easily accessible location.”

Historical exploration for the project includes bulldozed trenching and an Induced potential geophysical survey (1971) completed within a 3,000-foot by 2,000-foot area of copper +/- molybdenite mineralization hosted in a Laramide age quartz monzonite intrusion.

“The review of a number of historical exploration reports has significantly advanced our understanding of the property and focussed the 2018 exploration program,” said Stewart. “The porphyry copper target is hosted in a Laramide age quartz monzonite, the main host rock for porphyry copper deposits in Arizona. The precious metal targets were previously mined for higher-grade gold-silver-base metal mineralization. Based on our review, the area does not appear to have been explored for lower-grade precious metal mineralization.”

Between 2015 and 2018, Copper Fox identified two large areas of porphyry-style copper-molybdenum-gold mineralization on the property. The first target known as Area 1, hosts approximately 600 copper showings in outcrops over a 4,500-meter-long by up to 2,000-meter-wide area in that portion of the quartz monzonite stock along the contact with the Precambrian Pinal schist. The primary copper minerals are malachite, chrysocolla, chalcocite as well as rare covellite and chalcopyrite occur as disseminations, in quartz veinlets and along fractures primarily hosted in potassic and phyllic-altered Laramide age quartz monzonite. Within the area of copper mineralization, three zones of disseminated copper-molybdenum mineralization occur; the largest of which measures approximately 1,000 meters long by 350meters to 450 meters wide with concentrations of up to 0.2 percent molybdenum. The copper mineralization correlates with a positive chargeability and resistivity anomaly (1,800 meters by 900 meters) outlined in 1971. The molybdenite mineralization (“B” veins – porphyry terminology) and spatial distribution of the different styles of copper mineralization suggest an outward progression from the core of a porphyry system.

The copper mineralization in Area 2 occurs over an area that measures 2,800 meters long, averages 400 meters wide and is characterized by quartz vein and fracture-controlled copper mineralization in Laramide age dikes and Precambrian age Pinal schist, diabase and granite. The copper mineralization in Area 2 contains significantly lower concentrations of molybdenum than Area 1. The lower molybdenum concentrations and different styles of copper mineralization are interpreted to reflect the depth to the potential porphyry stock.

The average metal concentrations of the three styles of copper mineralization in Area 1 and Area 2 are shown below.

The 2018 rock chip sampling program was completed over the two target areas to characterize the mineralized structures exposed in outcrops. The sampling program returned values of up to 10.38 percent copper and 0.208 percent molybdenum in Area 1.

The 2,913-acre Sombrero Butte project is located in the Bunker Hill mining district in the Laramide porphyry copper province in Arizona; one of the most prolific copper mineralized districts in the world. The project is located on a trend that hosts large porphyry copper deposits such as the San Manuel-Kalamazoo, Ray and Copper Creek deposits. The region is a well-known mining jurisdiction with excellent and readily available infrastructure. The property is 100-percent owned by Copper Fox. During the early 1900s, copper mining activities were conducted within the property with Magma Chief being the largest mine in the district.

Mineralized breccia pipes commonly represent the surface expression of buried porphyry copper deposits in Arizona. Between 2006 and 2008, Bell Copper Corp. (TSXV:BCU) completed 34 diamond drill holes testing seven mineralized breccia pipes located at the north end of the property. This program yielded significant copper mineralization. Selected mineralized intervals from the Bell Copper drilling are listed below:

The mineralized intervals listed in the above table do not represent true widths.

Copper Fox purchased the project in 2012 and completed surface exploration which identified two surface exploration targets.

Copper Fox commissioned a Titan-24 DCIP survey in July 2015, and the results of the IP survey support the interpretation of the presence of a buried porphyry copper system. The chargeability signature exhibits a strong positive correlation with the alternation, mineralization and copper-molybdenite geochemical anomalies outlined in 2013 as well as the mineralized breccia pipes and historical drill results.

Two large porphyry copper targets have been identified on the property. At the south end of the property a 2,000-meter-long porphyry copper target consisting of copper-molybdenum geochemical anomalies, copper-molybdenite veins, associated potassic and argillic alteration, pyrite veining (now limonite) and 40 mineralized breccia pipes, of which only six have been drill tested. Within this target, at least 12 breccia pipes show intense dickite alteration—an indicator mineral of advanced argillic alteration, an alteration that occurs in many of the region’s porphyry copper deposits, including BHP Group PLC’s (LSE:BHP) San Manuel-Kalamazoo deposit.

Copper Fox released the results of a study completed in October 2016 on the chemistry of six hydrothermal breccia pipes within an area that measures 300 meters by 400 meters at the north end of the Sombrero Butte project. The remaining 18 hydrothermal breccia pipes at the north end of the property and hydrothermal breccia pipes located in the center of the property were not included in the study due to the lack of geochemical data.

“This study supports the presence of a buried porphyry system and shows that the breccia pipes acted as a pathway for a complex multi-phase introduction of metals,” said Stewart. “In addition to the pipes that contain significant concentrations of copper-molybdenum-gold-silver mineralization, the bottom 500-meter interval of diamond drill hole SB-23 is interpreted to have intersected the outer portion of a porphyry system commonly referred to as a ‘pyrite shell.’ The fact that the 2015 Titan-24 DCIP survey mapped the mineralized breccia pipes has advanced our interpretation of other chargeability anomalies within the property.”

The 2016 study focused on trace elements, such as molybdenum, gold, silver, arsenic, antimony and tungsten, elements that are commonly associated with a porphyry copper system. While analytical results for copper were previously announced by Bell Copper, the results for molybdenum-gold-silver and associated elements had not been previously announced.

A mapping and sampling program is planned to commence in the near term on the Sombrero Butte property. The program is expected to focus on the surface expression of the large chargeability and resistivity anomaly located in the south-central portion of the property. Copper Fox is looking for vein types, alteration and distribution of copper-molybdenite mineralization in this area.

Copper Fox owns 24.4 percent of the issued and outstanding shares of District Copper (formerly Carmax Mining Corp.). Looking to capitalize on the rising gold prices, District Copper picked up assets in the gold exploration space in 2018. District Copper now has two properties in its portfolio: the Stony Lake gold project and the Eaglehead copper-molybdenum-gold-silver project.

The 13,025-hectare Stony Lake gold project covers a 27-kilometer portion of the Cape Ray-Valentine Lake Structural trend in central Newfoundland. This area is part of Canada’s newest emerging orogenic gold district. The region hosts several recent high-grade gold discoveries including Sokoman Iron Corporation’s Moosehead discovery, Antler Gold Inc.’s (TSXV:ANTL) Twilight zone and Marathon Gold Corp.’s (TSX:MOZ) Valentine Lake gold deposit. The Stony Lake property is located between the Twilight and Moosehead discoveries.

Following the acquisition of the Stony Lake project, District Copper expanded the size of the Stony Lake project by acquiring the Duffitt and Island Pond gold projects which are contiguous with or adjacent to the Stony Lake project.

In 2019, prospecting and sampling (286 samples) and mapping of lithologies, alterations, and styles of mineralization was completed. Selected samples were collected from outcrop, sub crop and large angular boulders (close to bedrock) to characterize the precious and base metals and trace element geochemistry present in veins, other mineralized structures and outcrops.

An airborne geophysical survey was completed in August 2019. The compilation and interpretation of the geophysical results are in progress.

The 2019 program outlined eight areas of anomalous to low-grade gold mineralization (greater than 50 to 4,026 ppb). The gold mineralization is hosted in pyrite and arsenopyrite bearing quartz-feldspar porphyry, reduced sandstone, quartz stockwork and quartz veins, characterized by varying intensities of sericite, silica, ankerite, carbonate and chlorite alteration typically as pervasive alteration and envelopes around quartz stockwork, quartz veins. The mineralization exhibits arsenic-antimony-molybdenum geochemical associations.

The parameters that characterize the anomalous to low-grade gold mineralization located on the Stony Lake property suggest the potential for a sediment-hosted intrusion-related gold environment. Sediment-hosted intrusion-related gold mineralization is characterized by faulted and folded siliciclastic rocks, granitic intrusions, regional-scale faults, sericite with late carbonate alteration, mineralization hosted in sheeted veinlets, stockwork, disseminated and vein swarms with gold, silver, bismuth, tungsten and molybdenum geochemical associations.

The zones of anomalous to low-grade gold mineralization are located along an interpreted northeast-southwest trending corridor located in the western side of the property. Sampling to the west and east of the interpreted corridor returned low (less than 20 ppb gold) concentrations of gold. It is expected that the results of the airborne survey should provide insight into the structural control if any of these areas of anomalous to low-grade gold mineralization.

The 15,956-hectare Eaglehead copper-molybdenum-gold-silver project is located in the Laird mining district in northern British Columbia. The project is currently on care and maintenance.

Between 2014 and 2018, District Copper re-logged 94 historical diamond drill holes, completed airborne and ground geophysical surveys, preliminary rock characterization test work and drilled six holes to test the continuity of the East, Bornite and Pass zones. The company also sampled, re-sampled and re-analyzed 22,697 meters of drill core from 99 historical drill holes. In 2018, District Copper completed the re-logging, sampling and resampling work required to eliminate “legacy data” issues relating to the Eaglehead project.

In 2017, Copper Fox released a NI 43-101 technical report on the Eaglehead project. The report recommended that C$4.95 million is warranted to evaluate the potential of the project.

Preliminary flotation test work on mineralization from the Eaglehead deposit indicates about 88 percent copper, 74 percent gold, 72 percent silver and a minimum of 55 percent molybdenum recoveries into a clean 28-36 percent copper concentrate.

Elmer Stewart has over 42 years of domestic and international experience in mining and exploration for gold, uranium, base metals and copper. During his career, he has been involved in the financing and acquisition of a number of base metal and gold projects as well the development and construction of two underground mines and the construction and operation of three open pit gold mines. With approximately 30 years of experience at the senior management level for various companies listed on the TSX and TSXV, he is currently the Chairman, CEO and President of Copper Fox Metals Inc., Chairman of District Copper Corp. and is a Director of Liard Copper Mines Ltd. Stewart is Copper Fox’s representative on the Management Committee for the Schaft Creek Joint Venture

Braden Jensen is a chartered accountant with a bachelor of commerce degree from the University of Victoria. Jensen began his career and training with KPMG LLP. He was in the public practice sector for six years, concentrating in commodities-based accounting and tax prior to entering the resource sector where he has been responsible for reporting on exploration and operations.

Hector MacKay-Dunn is a Senior Partner at Farris, Vaughan, Wills & Murphy LLP where he advises private and public high-growth companies in a broad range of industries on domestic and cross-border private and public securities offerings, mergers and acquisitions, tender offers and international partnering transactions. MacKay-Dunn is recognized by Lexpert, a respected Canadian legal publication, as being among the top 100 Canada/US cross-border corporate lawyers in Canada and among Canada’s leading lawyers in mergers in acquisitions, technology and biotechnology. Appointed Queen’s Counsel in 2003, he holds the highest (AV Pre-eminent) legal ability rating from Martindale-Hubbell, an authoritative and global source for identifying leading lawyers and law firms, and the Best Lawyers in Canada ranks him as a national leader in technology and biotechnology.

Michael Smith has been a director of Copper Fox Metals since September 2004 and was Executive Vice-President until his retirement in September 2013. Smith had a 38-year banking career with RBC Royal Bank, holding senior management positions in Calgary, Edmonton, Montreal and New York. Mr. Smith is currently a Director and a member of the Audit Committee for Copper Fox, a Director and Chairman of the Audit Committee for District Copper as well as a Director and Treasurer of a registered public charity.

Ernesto Echavarria is a Certified Public Accountant and has extensive experience both at the executive and board levels of large corporations. He is a significant investor with a number of major corporations in Mexico including MegaCable Holding Sab, a controlling shareholder, and is an executive and Director of Franks Distributing, a major international distributor of fruits and vegetables. Echavarria is also an investor and Director of numerous other entities, including mining companies.

Erik Koudstaal is a Canadian Chartered Accountant and a retired partner of Ernst and Young. His accounting career spans 40 plus years in The Netherlands, Canada, Africa (Nigeria), Asia (Singapore), Europe (Spain) and the United States. Koudstaal retired from Ernst and Young’s New York International office in 2001. His multinational clients were in natural resources, banking, manufacturing and technology. Since retiring, he has been a financial consultant and a Board Member (Treasurer) of two organizations. In January 2008, Koudstaal completed the Governance Essentials Program for Directors (not-for-profit) at the Institute of Corporate Directors and the Rotman School of Management, University of Toronto.

Copper Fox Metals Inc. (TSXV: CUU) invites you to visit them at Booth #2713 at The Prospectors & Developers Association of Canada Convention (PDAC) at the Metro Toronto Convention Centre (MTCC) on Monday June 13 to Wednesday June 15, 2022.

About Copper Fox Metals Inc.

Copper Fox is focused on creating value through the acquisition, exploration and development of large, low-cost porphyry copper projects located in proven copper districts. Projects are located in the 'Golden Triangle' in British Columbia and the 'Laramide Copper Province' in Arizona, both mining friendly and politically stable jurisdictions. Copper Fox's most advanced assets are the 25% carried interest in the Schaft Creek Joint Venture with Teck Resources Limited and their 100% interest in the Van Dyke in-situ copper recovery (ISCR) project.

The World's Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 23,000 attendees in person in 2020, participants could also attend programming, courses and networking events.

The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world's mineral industry. From 2021 it is also offered as an online event.

For more information and/or to register for the conference please visit: https://www.pdac.ca/convention/registration.

We look forward to seeing you there.

Copper Fox Metals Inc. Lynn Ball 403-264-2820 lynn.ball@copperfoxmetals.com copperfoxmetals.com

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Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSXV: CUU) (OTCQX: CPFXF) and its wholly owned subsidiary, Desert Fox Copper Inc. ("Desert Fox"), are pleased to announce results of the high resolution airborne magnetic and radiometric survey on its 100% owned Mineral Mountain copper project located approximately 15 miles east of Florence, Arizona.

The airborne data maps the geophysical characteristics related to the distribution and concentrations of magnetic minerals and radioactive elements within the project area. The magnetic and radiometric data provides a geophysical/geochemical framework to compliment the mapping lithology, structure, and alteration for the project. The highlights of the airborne survey and ongoing compilation of data are set out below:

Elmer B. Stewart, President, and CEO of Copper Fox, stated, "The strong spatial correlation between the copper-molybdenite mineralization, chargeability anomaly, alteration pattern and interpreted late-stage felsic intrusives all located within the large, Th/K anomaly provides significantly better information on which to base a future drilling program. These features and estimated depth to the top of the higher chargeability signature is consistent with features of a buried porphyry system and compliment the geochemical vectoring study completed in 2019.

The geological model consists of a multi-phase Laramide age intrusive (69.7 +/- 0.4 Ma; U/Pb zircon) with mineralized and non-mineralized granodiorite phases and a mineralized quartz monzonite phase intruding Precambrian rocks.

Mapping, petrographic and mineralogic studies have identified an early potassic phase, overprinted by pervasive sericite and late stage propylitic alteration and transformation of primary chalcopyrite to secondary malachite, covellite and chalcocite due to weathering/oxidization/enrichment processes (supergene) that were active after the Laramide hydrothermal event. The abundance of chalcocite and rare covellite suggests the lower portion of the supergene zone.

Three distinct magnetic bodies ranging in size from approximately 200m x 500m to 750m x 1,800m occur along the eastern and northern Laramide/Precambrian contact. These bodies are characterized by increased magnetite content typically associated with potassic alteration related to a porphyry copper system and are interpreted to be the source intrusions for the porphyry copper-molybdenite mineralization/alteration exposed on surface. These bodies underly the copper-molybdenum mineralization exposed on surface and are located within the outline of the significantly higher chargeability signature at depths ranging from 250m to 400m below surface.

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Late-stage structural re-adjustment appears to have modified the shapes of these bodies based on offsets of the magnetic bodies along NS faults consistent with observations made during the mapping programs. The survey also indicated magnetite destruction along several NS trending late-stage dikes/faults to a depth of approximately 300m below surface.

A 250m wide by 500m long NE trending positive magnetic body occurs at the northeast end of Target #2 but does not have an associated Th/K anomaly.

Several other small (200m X 500m) positive magnetic signatures occur in areas where no copper mineralization has been located and outcrop in these areas exhibit distal (epidote-chlorite) alteration features of a porphyry system.

The main area of copper-molybdenum mineralization, chargeability anomaly, and interpreted late-stage intrusives all are located within a strong, well-defined Th/K anomaly measuring 4,000m long and ranging from 750m to 1,000m wide located along the entire eastern and northern portion of the Laramide/Precambrian contact. This anomaly is a measure of the ratio of thorium to potassium concentration within the project area. Potassic alteration (K-spar, magnetite, secondary biotite) associated with a porphyry copper system increases potassium content, thus lowering the Th/K ratio.

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The chargeability anomaly was identified by a reconnaissance style Induced Polarization survey completed in 2021 (see news released dated July 6, 2021). The 5mv/s chargeability contour as mapped; comes to surface in the central and northern portions of the survey area. At depth, the chargeability signature increases in strength to greater than 7.5mv/s at depths ranging from approximately 250m in the northern portion to approximately 400m at the south end of the project. The approximate measurements of the higher chargeability signature exhibit a strong spatial correlation to copper-molybdenite mineralization on surface. The late-stage intrusive bodies are located within the higher chargeability signatures.

The Mineral Mountain survey block (417-line kms) was flown by Precision GeoSurveys using an Airbus AS350 helicopter at 100 m line spacing at a heading of 090°/270°. Tie lines were flown at 1000m spacing at a heading of 000°/180°. A Hemisphere R330 GPS and a Novatel GPS integrated with the AGIS navigation system provide accurate position control.

A Scintrex CS-3 Survey Magnetometer was used to collect magnetic data and a Nuvia Dynamics Advanced Gamma Ray Spectrometer was used to collect radiometric data. Changes in the Earth's magnetic field over time, were measured and recorded by two stationary GEM GSM-19T proton precession magnetometers.

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.

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSX-V: 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 copperfoxmetals.com.

On behalf of the Board of Directors

Elmer B. Stewart President and Chief Executive Officer

For additional information contact: Lynn Ball (844) 484-2820 or (403) 264-2820, investor@copperfoxmetals.com

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 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 includes statements regarding; further exploration should be completed northeast of Target #2; two new exploration targets have been identified; a future drill program; three distinct magnetic bodies are interpreted to be the source intrusions for the porphyry copper-molybdenite mineralization/alteration exposed on surface; and the approximate dimensions of the mineralized zones.

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 dimensions and shape of the mineralized areas may not be as estimated; the surface mineralization may not represent buried porphyry style mineralization; uncertainties relating to interpretation of the outcrop sampling results; the geology, continuity and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.

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A 250m wide by 500m long NE trending positive magnetic body occurs at the northeast end of Target #2 but does not have an associated Th/K anomaly.

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On behalf of the Board of Directors

Elmer B. Stewart President and Chief Executive Officer

For additional information contact: Lynn Ball (844) 484-2820 or (403) 264-2820, investor@copperfoxmetals.com

Cautionary Note Regarding Forward-Looking Information

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 dimensions and shape of the mineralized areas may not be as estimated; the surface mineralization may not represent buried porphyry style mineralization; uncertainties relating to interpretation of the outcrop sampling results; the geology, continuity and concentration of the mineralization; the financial markets and the overall economy may deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals.

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Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") through its wholly owned subsidiary Northern Fox Copper Inc. is pleased to provide an update on its 100% owned Eaglehead polymetallic porphyry copper project located approximately 50 kilometers ('km') east of Dease Lake, British Columbia. The Eaglehead project covers a large portion (15,712.9 ha) of the Lower Jurassic age, Eaglehead stock located within Quesnel terrane.

Elmer B. Stewart, President and CEO of Copper Fox stated, "Copper Fox is pleased to be working with MMTS as it continues to advance the Eaglehead project. Positive results from the 2022 drilling program, could indicate a continuous zone of mineralization exceeding 1.5kms in strike length and potentially lead to advancing the project to the resource estimation stage. The compilation work suggests the Thibert Fault system is the main structural control on emplacement of the large, near surface zones of porphyry copper mineralization and that future exploration should be focused on this area exploring for buried porphyry mineralization in a structural setting similar to that at the Red Chris deposit."

Exploration Model The strong spatial alignment of the open-ended zones of porphyry mineralization and late stage felsic intrusives to the Thibert Fault system suggests that the Thibert Fault system exerted significant control on the emplacement of the late stage felsic intrusives and porphyry mineralization. The mineralization exposed on surface is interpreted to represent the upper level of a deep-seated porphyry system located along and controlled by the Thibert Fault system in a structural setting like that at the Red Chris deposit.

Moose Mountain Technical Services MMTS's scope of work includes a review of the geological model, drill hole, analytical, metallurgical, and environmental data for the Eaglehead project. MMTS will also review the proposed 2022 drill program and provide guidance on data collection and drill hole locations to optimize the drilling program. The overall objective of MMTS's work is to determine, if at the end of the 2022 drilling program, the data quality and quantity is sufficient to allow Copper Fox to proceed to commission an independent resource estimate in accordance with National Instrument 43-101 ('NI43-101'), should it decide to do so.

Figure 1. Compilation Map; Eaglehead project.

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Project Logistics The contracts for drilling and archaeological services have been finalized. An archeological survey of the access route and drill sites must be completed prior to commencing the drilling program. The objective of the 2,500m drilling program is to test the 500m gap between the Bornite and East zones to establish continuity of the mineralization between these zones. Sampling of the 2022 drill core for metallurgical testwork to inform the metallurgical variability in the gap is planned. Copper Fox continues to reach out to the BC Ministry of Mines regarding receipt of approval for the NoW that is required before the field work commences.

Compilation Work Most of the late stage felsic intrusives, copper mineralization and mineralized drill holes occur within a specific area of the project; clustered along the Thibert Fault system. Three new exploration targets are located within the Kutcho Formation adjacent to the Thibert Fault system and within the Eaglehead intrusive. These targets are characterized by strong magnetic signatures (suggesting magnetite alteration) and positive Th/K anomalies typically associated with increased potassium content due to early stage potassic alteration of a porphyry copper system.

Age Dating Age dating (U/Pb zircon, based on 12 determinations) of samples from the Eaglehead intrusive was performed by the Pacific Centre for Isotopic and Geochemical Research located in Vancouver, British Columbia. The study yielded a Lower Jurassic age with the average age for the Quartz Diorite at 195.1+/-0.13Ma and for the granodiorite 194.8 +/- 0.1Ma; comparable to other calc-alkalic copper porphyry systems in British Columbia. Age dating (Re-Os) of molybdenite mineralization yielded a 194.2 +/- 0.9 Ma. date indicating emplacement of the porphyry style copper-molybdenum-gold-silver mineralization occurred 500,000 to 700,000 years after emplacement of the Eaglehead intrusive.

Figure 2. Timing of Eaglehead intrusion

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Source: "Porphyry Deposits of the Northwestern Cordillera of North America: A 25-Year Update", edited by Sharman E.R., et al. (2020). Page 4, Special Volume 57. Canadian Institute of Mining, Metallurgy and Petroleum.

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.

For additional information contact: Investor line 1-844-464-2820 or Lynn Ball, at 1-403-264-2820.

On behalf of the Board of Directors

Elmer B. Stewart President and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of the Canadian securities laws. 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 about: retaining MMTS to provide guidance and complete a project review; the results of an MVI study; a large, interpreted deeply buried intrusives; strong spatial correlation of the interpreted intrusives to the Thibert Fault system, the association between the Thibert Fault system, areas of copper mineralization, and Th/K anomalies; and comments suggesting that the main portion of the porphyry is at depth.

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: retaining MMTS to complete a project data review and guidance; the geological, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; the speed of field studies 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: MMTS may not complete the data review on a timely basis, or at all; the results of an MVI study may not be accurate; the strong spatial correlation of the interpreted intrusives to the Thibert Fault system, areas of copper mineralization and Th/K anomalies may not be representative of actual geological setting; comments on the location and depth of the porphyry may not be accurate; uncertainties relating to interpretation of the previous results; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; fluctuations in commodity prices and demand; currency exchange rates; and uncertainty as to timely availability of permits and other governmental approvals.

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Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) ("Copper Fox" or the "Company") is pleased to provide its shareholders an update of activities on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. The Schaft Creek project is managed through the Schaft Creek Joint Venture ("SCJV"). Teck Resources Limited ("Teck") is the Operator of the SCJV and holds a 75% interest with Copper Fox holding the remaining 25% interest. Activities currently in progress include:

Elmer B. Stewart, President and CEO of Copper Fox, stated, "In addition to planning for the 2022 field program, the SCJV is advancing several initiatives to deliver into the overall 2022 program objectives. The results of these activities will guide the geotechnical program, align the environmental program to regulatory requirements, and expand consultation with the Tahltan Nation on advancing the Schaft Creek project. These activities are focused on further defining and confirming value-add opportunities to inform a decision on initiation of a potential future Prefeasibility Study."

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 http://www.copperfoxmetals.com.

For additional information contact: Investor line 1-844-484-2820 or Lynn Ball, at 1-403-264-2820.

On behalf of the Board of Directors

Elmer B. Stewart President and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of the Canadian securities laws. 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 about: a 5,000m drill program; identifying opportunities to decrease Life of Mine; finalizing a metallurgical test work contract; refining the 2022 environmental baseline collection activities; strengthening the 2022 engagement plan with the Tahltan Nation; a potential Prefeasibility Study 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, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; the speed of field studies; 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 load flow and interconnection costing analysis, the operating cost to commodity prices sensitivity analysis, Geotechnical Analysis, the Structural Geology Interpretation and metallurgical test work may not be completed as planned or at all; the 2022 environmental activities, the environmental baseline monitoring and Environmental Baseline Data may not meet regulatory guidelines; engagement with the Tahltan Nation may not be completed within the timeline or at all; uncertainty as to the availability and terms of future financing; fluctuations in commodity prices and demand; currency exchange rates; and uncertainty as to timely availability of permits and other governmental approvals.

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Metallum Resources Inc. (TSXV: MZN) (OTCQB: MTLLF is developing a high-grade zinccopper project in Ontario. BTV chats with President & CEO, Kerem Usenmez to learn more.

Metallum Resources Inc.(TSXV: MZN) (OTCQB: MTLLF)

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Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

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Midnight Sun Mining Corp. (TSXV: MMA) (OTCQB: MDNGF) (the "Company" or "Midnight Sun") has received notification of Rio Tinto Mining and Exploration Limited's ("Rio Tinto") intention to terminate the previously announced Earn-In and Joint Venture Agreement (the "Earn-In Agreement") (see the Company's news release dated April 27, 2020). Termination will be effective June 28, 2022.

Under the terms of the Earn-In Agreement, Rio Tinto has not earned any ownership of the Solwezi Licences, and control will be returned to Midnight Sun, along with all samples and data collected while Rio Tinto acted as the project operator.

Al Fabbro, President & CEO commented, "While Rio Tinto were not satisfied with the results generated by their work on our properties, I do not share their feelings. From the outset of this Agreement, Rio Tinto made it clear to me they were looking for a 'Rio sized deposit.' Falling short of their parameters does not mean we don't have the makings of an economic orebody on our hands. They have generated excellent databases of geochemical and geophysical information that tell me the Solwezi Licences are very much still alive and warranting further work."

Midnight Sun has received the 2021 Solwezi exploration report from Rio Tinto. All of the work in this field season was focused on license 12124-HQ-LEL and total expenditures for the 2021 program were approximately USD $2.95 million.

The work consisted of 5,968 meters ("m") of drilling divided into: 2,483 m of diamond drilling ("DD") over 8 holes, 1,050 m of Reverse Circulation drilling ("RC") and 2,682 m of air core drilling ("AC"). There were also 668 new soil samples taken and 1,200 AC samples from Mitu reanalyzed.

A total of five target areas were examined: Gameno, Likoko, Sanda, Mawemba and Dumbwa.

There were three DD holes at Gameno totalling 1,300 m. The program was designed to test a Cu-Bi anomaly that was upgraded by two AC holes in 2020 that returned 18 m of 0.21% Cu and 14 m of 0.23% Cu. The three best intercepts were 2.1 m of 0.68% Cu from 360 m, 1.5 m of 0.79% Cu from 188.5 m, and 1.42 m of 8.3% Cu from 164 m.

No further work is recommended due to lack of strike continuity and thickness. It is also the most populous part of the licenses, running into the town of Solwezi, which hampers further exploration and potential development.

Two DD holes, totalling 461 m tested the Mitu extension to the southeast over a moderate copper soil anomaly coincident with a strong Versatile Time Domain Electromagnetic ("VTEM") anomaly and an audiomagnetotelluric ("AMT") conductor. Neither diamond drill hole intersected Cu mineralisation, indicating further geological and structural modelling of the Mitu Trend is required to understand the controls of mineralisation and the fluid focusing mechanism along this target area.

Two DD holes totalling 499 m tested a weak soil geochemical anomaly and a large VTEM anomaly similar to Mitu. Weak mineralisation was encountered in each hole.

One diamond drill hole was completed to test a Cu in soil anomaly on the north-west edge of a large mafic intrusive body. This diamond drill hole intercepted 20 m of 0.19% Cu from 27.3 m.

At Mawemba NE, 18 air core holes were drilled across three fences, testing a Cu in soil anomaly and along a linear magnetic anomaly. The strongest result was 1 m of 1.13% Cu from 26 m, terminating in mineralization.

Rio Tinto performed a full review of the diamond drilling previously performed by Midnight Sun on the area to get an understanding of the geology and mineralisation of the area. A 200 m x 200 m infill soil geochemical grid confirmed the continuity of the anomaly and seven reverse circulation holes were drilled.

Midnight Sun engaged an independent Copperbelt expert, Dr. Simon Dorling, to review the data generated by Rio Tinto's work and prepare recommendations for Midnight Sun's 2022 work program.

All samples collected by Rio Tinto including soil samples and all drilling were sent to ALS Global Ndola facility for preparation and on turn ALS Vancouver for analysis. The prepared samples was provisionally analysed by ALS certified pXRF at Ndola and in turn by ICP-AES/MS method in Vancouver. One duplicate sample and one certified standard sample were inserted by Rio Tinto in every 20 samples analysed for quality control/quality assurance purposes.

Qualified Person: Richard Mazur, P.Geo., a Director of the Company anda Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

ON BEHALF OF THE BOARD OF Midnight Sun Mining Corp.

Al Fabbro President & CEO

For Further Information Contact: Al Fabbro President & CEO Tel: +1 604 351 8850

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 NEW RELEASE.

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

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Fireweed Zinc LTD. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF) is pleased to provide the results of its Annual and Special Meeting of Shareholders which was held on May 25, 2022, and to announce Fireweed shares are now eligible for electronic clearing and settlement with the Depository Trust Company ("DTC") for trading in the USA.

Annual and Special Meeting At the Annual and Special Meeting of shareholders, 25,038,453 shares were voted and the Company received majority shareholder approval for the following:

Details of the matters approved at the meeting are set out in the Company's Information Circular dated April 19, 2022 and available under the Company's profile on SEDAR at www.sedar.com .

Depository Trust Company Eligibility in USA The Company is pleased to announce that Fireweed shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the USA. DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities which are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." The Company believes that being DTC eligible will simplify and make trading in its common shares on the OTCQB Venture Market more accessible to the US investment community with accelerated settlement periods and expected reduction in costs for investors and brokers.

DTC eligibility compliments Fireweed's OTCQB ® Venture Market (the "OTCQB") listing (OTCQB: FWEDF) in the USA. The OTCQB, operated by the OTC Markets Group in New York, is the premiere marketplace for early stage and developing U.S. and international companies, and is recognized by the United States Securities and Exchange Commission ("SEC") as an established public market providing public information for analysis and value of securities.

About Fireweed Zinc Ltd. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F ): Fireweed Zinc is a public mineral exploration company on the leading edge of Critical Minerals project development. The Company has three projects located in northern Canada:

In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies and is DTC eligible for enhanced electronic clearing and settlement. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com . In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.

Additional information about Fireweed Zinc and its projects can be found on the Company's website at www.FireweedZinc.com and at www.sedar.com .

ON BEHALF OF Fireweed Zinc LTD.

Forward Looking Statements This news release may contain "forward-looking" statements and information relating to the Company including its DTC eligibility that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Additional risks are set out in the Company's prospectus dated May 9, 2017, and filed under the Company's profile on SEDAR at www.sedar.com. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

Contact: Brandon Macdonald Phone: (604) 646-8361

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TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it will be exhibiting at the annual 2022 Prospectors & Development Association of Canada Convention (PDAC), the world's premier mineral exploration & mining event. We invite all our shareholders and conference delegates to visit us at booth # 3352. The in-person event will be held at the Metro Toronto Convention Centre (MTCC) from Monday, June 13 to Wednesday, June 15, 2022

We welcome all stakeholders to come visit our senior team members who are attending PDAC from Portugal and BC and discuss one on one Goldplay's plans for 2022 and beyond.

Goldplay Mining is a Canadian public company listed on TSXV and in US on OTCQB. Goldplay holds large district scale gold, and copper-gold projects located in BC's Golden Triangle and southwestern BC with potential for world class mineral discoveries. The Company also holds several brownfield gold, and copper-gold projects located in Portugal with near term mining potential.

On behalf of the Board of Directors "Catalin Kilofliski" President, CEO & Director

For further information please contact:

Goldplay Mining Inc. Mr. Catalin Kilofliski, President & CEO Suite 650 - 1021 West Hastings Street Vancouver, BC V6E 0C3 T: (604) 655-1420 E: catalin@goldplaymining.ca www.goldplaymining.ca

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Metal Energy Corp. (" Metal Energy " or the " Company ") (TSXV: MERG) is pleased to announce that it will be featured at Ore Day which will be broadcast today June 10 th at 9 am ET at www.Oreday.com

Ore Day is a conference hosted by the Ore Group of Companies who focus on gold, copper, nickel, and uranium development projects.

Ore Day will also feature keynote talks and interview with industry experts, including:

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's expectations regarding future operations and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the application of the proceeds of the Offering as anticipated by management and the inability to obtain the necessary TSX Venture Exchange approval to complete the Offering. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to close the Offering, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, TSX Venture Exchange approval, for the Offering.

Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com

View original content: http://www.newswire.ca/en/releases/archive/June2022/10/c3605.html

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Azarga Metals Corp. ("Azarga Metals" or the "Company") (TSXV:AZR) is pleased to announce the appointment of Doris Meyer as a director. The number of directors of the Company is now restored to three by this appointment

Doris Meyer is the Corporate Secretary of the Company. She gained her early experience in the mining industry as Vice President Finance of Queenstake Resources Ltd. from 1985 to 2003. Ms. Meyer launched her private company Golden Oak in October 1996 with Queenstake as her first client. Since that time, Golden Oak has provided publicly traded mineral exploration companies with administrative, financial reporting and corporate compliance services. Ms. Meyer is also Corporate Secretary and Director for a number of publicly listed exploration companies trading on the TSX-V. Ms. Meyer is a past member of the Institute of Chartered Professional Accountants of British Columbia. Ms. Meyer has been the Corporate Secretary of the Company since 2008.

Gordon Tainton, President and CEO

For further information please contact: Doris Meyer, at +1 604 536-2711 ext. 3 or visit www.azargametals.com. The address of the head office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.

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