Fox Tungsten Commences Preliminary Economic Assessment

Vancouver, British Columbia – TheNewswire - November 4, 2026 – Fox Tungsten Ltd. (TSXV: FOXT) ("Fox Tungsten" or the "Company") is pleased to announce the commencement of a Preliminary Economic Assessment ("PEA") for its 100%-owned Fox Tungsten Project, located in the South Cariboo region of British Columbia. The PEA represents a significant milestone in advancing Fox from exploration and resource expansion towards potential development. The Company has assembled an experienced team of engineering, geological and metallurgical consultants to undertake the study, with completion targeted for Q2 2027. The Company's fully funded 20,000-metre diamond drilling program is nearing completion, with approximately 18,500 metres drilled to date. Drilling at the Fox Project is complete, and the remaining program is focused on exploration targets at the Company's Silverboss Project. Results from the Fox drilling program will form the basis of an updated Mineral Resource Estimate, currently targeted for completion in Q1 2027. Experienced Technical Team Led by Ausenco Ausenco Engineering Canada ULC (“Ausenco”) has been selected as the lead engineering consultant for the PEA. Ausenco brings direct

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