Fox Tungsten Ltd. Launches Largest Drill Program to Date at Fox Project

Vancouver, British Columbia — June 25, 2026 — Leads & Copy — Fox Tungsten Ltd. has commenced a fully funded 20,000-meter drill program at its Fox Project, located approximately 75 kilometers northeast of 100 Mile House in south-central British Columbia. The first of two diamond drill rigs has been mobilized to the site, with drilling now underway. The second drill rig is anticipated to arrive in early July.

The 2026 drill program is structured with three primary objectives. Approximately 60% of the drilling will focus on expanding the existing Fox resource, aimed at supporting an updated mineral resource estimate and a Preliminary Economic Assessment (PEA) projected for the first half of 2027. This expansion will specifically target the continuity of mineralization between the BN, RC, and BK zones along strike, as well as down-dip extensions of the BN and RC zones.

An estimated 30% of the drilling will be dedicated to exploration opportunities across the broader Fox property. The goal is to identify new tungsten-bearing zones and enhance the project's long-term growth potential. This includes targeting deeper down-dip extensions of current resource zones and exploring potential new areas at Fox North and the August Showing.

The remaining 10% of drilling will be directed towards the nearby Silverboss property to evaluate prospective copper and molybdenum targets. These targets include potential molybdenum mineralization northwest of Glencore’s decommissioned Boss Mountain mine at the 10 Mile Creek target, and drill testing the Gus Zone copper soil anomaly.

Drilling is expected to continue until October 2026, with assay results to be released periodically as they become available. In addition to drilling, the Company will conduct various field activities throughout the 2026 season, including prospecting, geological mapping, geochemical sampling, and metallurgical testing to support future project development.

To facilitate the 2026 exploration campaign, Fox Tungsten has recently completed the construction of a new, larger exploration camp. This upgraded facility is designed to accommodate the increased workforce and operational demands of what is described as the largest drill program in the Company's history.

The exploration program is being managed by Coast Mountain Geological Ltd., a geological consulting firm based in British Columbia. Paycore Drilling Ltd. has been contracted for drilling services, having previously worked on the 2025 Fox drill program.

“We are excited to begin our largest exploration program to date at Fox,” said Steve Gray, CEO of Fox Tungsten. “With two drill rigs operating throughout the summer, a new camp in place, and a clear focus on resource growth and new discoveries, this program represents a major step toward unlocking the full potential of the Fox district. The results of this work will form the foundation of an updated resource estimate and our planned PEA in 2027.”

Fox Tungsten's 2026 exploration program is being undertaken amid increasing governmental and industry attention on securing domestic supplies of critical minerals. The press release notes that China currently accounts for approximately 80% of global tungsten production, emphasizing the strategic importance of developing new sources in North America and allied jurisdictions.

The technical and scientific aspects of this release have been verified and approved by John Sims, P.Geo, a qualified person under National Instrument 43-101. Fox Tungsten is focused on discovering and developing resources within its 100-percent-owned portfolio of diversified metals projects in British Columbia. The company's projects include the Fox Tungsten deposit and the Silverboss molybdenum-copper-gold-silver project. Fox Tungsten is committed to responsible mineral resource development and building relationships with Indigenous Communities.