Fox River Completes Arrangement With Avenir Minerals Limited

TORONTO, ON / ACCESS Newswire / July 2, 2026 / Fox River Resources Corporation (CSE:FOX) ("Fox River" or the "Company") is pleased to announce the successful completion of the previously announced plan of arrangement (the "Arrangement"), pursuant to which Avenir Minerals Limited ("Avenir") acquired all of the issued and outstanding common shares of Fox River ("Common Shares") (other than Common Shares held by Avenir or any of its affiliates) for cash consideration of $1.10 for each Common Share held.

In connection with the Arrangement, the Common Shares will be delisted from the Canadian Securities Exchange. Fox River will also apply to cease to be a reporting issuer under applicable Canadian securities laws.

Further information regarding the Arrangement is provided in Fox River's management information circular dated May 21, 2026 and news release dated June 24, 2026, which are available on SEDAR+ under Fox River's issuer profile at www.sedarplus.ca and on Fox River's website at www.fox-river.ca.

About Fox River Resources

Fox River holds a 100% interest in the Martison Phosphate Project near Hearst, Ontario. Planned as a vertically integrated operation, the project harnesses a high-grade, large-scale igneous phosphate deposit - capable of providing secure domestic supplies of phosphate fertilizers as well as PPA for the LFP battery industry. The project's Anomaly A deposit underpins a positive preliminary economic assessment with an effective date of April 21, 2022. More information is available at www.fox-river.ca or via Fox River's SEDAR+ profile.

On behalf of Fox River Resources Corporation

Stephen D. Case, President, Chief Executive Officer and Director

For more information, please contact:

Stephen D. Case
President, Chief Executive Officer and Director
Fox River Resources Corporation
141 Adelaide Street West, Suite 301, Toronto, Ontario M5H 3L5
Telephone: 416-972-9222
Email: info@fox-river.ca | Website: www.fox-river.ca

Cautionary Statement Regarding Forward-Looking Statements

Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Forward-looking statements and information can be identified by statements that certain actions, events or results "could", "may", "should", "will" or "would" be taken, occur or achieved. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the delisting of the Common Shares from the Canadian Securities Exchange; and Fox River ceasing to be a reporting issuer under applicable Canadian securities laws.

The forward-looking statements and information contained in this news release reflect Fox River's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Fox River, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies.

Fox River cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Fox River has made assumptions and estimates based on or related to many of these factors. In addition, in connection with the forward-looking statements contained in this press release, Fox River has made certain assumptions, including expectations and assumptions concerning the Arrangement, the delisting of the Common Shares from the Canadian Securities Exchange and Fox River ceasing to be a reporting issuer under applicable Canadian securities laws. The anticipated dates indicated may change for a number of reasons. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the inability of Fox River to delist the Common Shares from the Canadian Securities Exchange as contemplated or at all; the inability of Fox River to cease to be a reporting issuer under applicable Canadian securities laws; significant transaction costs or unknown liabilities; the failure to realize the anticipated benefits of the Arrangement or the risk that the anticipated benefits of the Arrangement will take longer to realize than expected; the effect of the completion of the Arrangement on the ability of Fox River to retain and hire key personnel and maintain business relationships; potential legal proceedings relating to the Arrangement and the outcome of any such legal proceeding; the inherent risks, costs and uncertainties associated with transitioning the business successfully and general economic conditions. Additional risks, uncertainties and other factors are identified in Fox River's management information circular dated May 21, 2026 and Fox River's most recent management's discussion and analysis, each of which has been filed with the Canadian provincial securities regulatory authorities, as applicable.

Although Fox River has attempted to identify important factors that could cause actual results to differ materially from those set out or implied by the forward-looking statements and information, this list is not exhaustive and there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors should use caution when considering, and should not place undue reliance on any, forward-looking statements and information. Forward-looking statements and information are designed to help readers understand Fox River's current views in respect of the Arrangement and related matters and may not be appropriate for other purposes. Fox River does not intend, nor does it assume any obligation to update or revise forward-looking statements or information, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by law.

This news release does not constitute (and may not be construed to be) a solicitation or offer by Fox River or any of its directors, officers, employees, representatives or agents to buy or sell any securities of any person in any jurisdiction, or a solicitation of a proxy of any securityholder of any person in any jurisdiction, in each case, within the meaning of applicable laws.

SOURCE: Fox River Resources Corporation