Fox Tungsten Receives Authorizations for New Access Trail, Extends MYAB Permit Through 2031

TSXV: FOXT | OTC Pink: FOXTF | FRA: 1HC

Fox Tungsten Ltd. (TSXV: FOXT; OTC Pink: FOXTF) ("Fox Tungsten" or the "Company") announced on September 4, 2026, from Vancouver, British Columbia, that it has received an exemption from the British Columbia Ministry of Water, Land and Resource Stewardship authorizing construction of a new access trail through a Wildlife Habitat Area (WHA) to the Company's Fox Tungsten Project in south-central British Columbia.

The Company also received the necessary authorizations from the British Columbia Ministry of Mining and Critical Minerals for construction of the trail, and has extended its Fox Multi-Year Area Based (MYAB) permit through March 31, 2031.

Overview

According to the Company, the new access trail is expected to provide safer and more reliable access for personnel, equipment and supplies at the Fox Tungsten Project, while improving operational efficiency and reducing the Company's reliance on helicopter support.

As part of the WHA exemption, Fox Tungsten has committed to support a regional caribou monitoring program, contributing approximately C$300,000 over five years toward the initiative. The Company characterized this commitment as an important component of advancing the Fox Project responsibly while supporting ongoing regional caribou conservation.

Key Highlights

• WHA exemption granted by the BC Ministry of Water, Land and Resource Stewardship for construction of a new access trail to the Fox Tungsten Project, according to the Company.
• Additional authorizations received from the BC Ministry of Mining and Critical Minerals for construction of the trail, according to the Company.
• Fox Multi-Year Area Based (MYAB) permit extended through March 31, 2031, according to the Company.
• The trail is expected to reduce reliance on helicopter support and improve access for personnel, equipment and supplies, according to the Company.
• Approximately C$300,000 committed over five years to a regional caribou monitoring program as part of the WHA exemption, according to the Company.

Management Commentary

"Receiving these authorizations is an important milestone for the Fox Project," said Steve Gray, President and CEO of Fox Tungsten. "The new access trail will improve safety and operating efficiency, reduce our reliance on helicopters and provide more reliable access as we continue to advance the project. We appreciate the collaborative approach taken by the Province throughout the review process and remain committed to responsible project development and supporting regional caribou conservation."

Strategic and Operational Context

According to the Company, its fully funded 20,000 metre exploration program is continuing to progress well, with initial assay results expected in the coming weeks. The 2026 program is designed to support resource expansion and further exploration of the Fox Project, with the Company targeting completion of an updated mineral resource estimate and a Preliminary Economic Assessment (PEA) in 2027.

What to Watch Next

• Initial assay results from the 20,000 metre drill program, expected in the coming weeks, according to the Company.
• Updated NI 43-101 Mineral Resource Estimate targeted for 2027, according to the Company.
• Preliminary Economic Assessment (PEA) targeted for 2027, according to the Company.
• Commencement of access trail construction under the newly received authorizations.

About Fox Tungsten

Fox Tungsten Ltd. is a Canadian critical minerals company focused on advancing its 100%-owned portfolio of tungsten and polymetallic projects in British Columbia. According to the Company, its flagship Fox Tungsten Project hosts one of the highest-grade tungsten resources in the western world and is being advanced through resource expansion drilling, metallurgical studies, engineering and permitting activities.

The Fox Tungsten Project is located approximately 75 kilometres northeast of 100 Mile House in south-central British Columbia. According to the Company, the property hosts a large-scale tungsten mineral system extending approximately 12 kilometres by 5 kilometres, with multiple high-grade zones occurring in a near-surface setting. The current NI 43-101 Mineral Resource Estimate includes 582,400 tonnes grading 0.826% WO₃ (Indicated) and 565,000 tonnes grading 1.231% WO₃ (Inferred), according to the Company.

In addition to the Fox Tungsten Project, the Company owns the Silverboss molybdenum-copper-gold-silver project, located adjacent to Glencore's former Boss Mountain molybdenum mine in British Columbia.

Read the full press release here.

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