What was all the BS at PDAC about the BFS being on time by management? Ridiculous ... I'll believe the BFS when I actually see it. Is CUU way down the foodchain with Tetra Tech? Pathetic - waiting until 2013 for the BFS more likely. Wonder if we'll hit .99 today.

Monday, March 19, 2012
Copper Fox Updates Activities on the Schaft Creek-Copper-Gold-Molybdenum-Silver Project

Vancouver, British Columbia -- March 19, 2010 -- Copper Fox Metals Inc. (TSX-Venture: CUU) announces an update of activities on the Schaft Creek copper-gold-molybdenum-silver project located in north west British Columbia.

Highlights:

Resource Estimate -- Preparation of an updated Resource Estimate for the Paramount and Liard zones is currently underway. The Resource Estimate is being performed by Tetra Tech Wardrop (Tetra Tech) and will include all assay results for the diamond drill holes completed in the Paramount and Liard zones at Schaft Creek during the 2011 program. These assay results are expected to have a positive impact on the average grade for both the Liard and Paramount zones. Additionally Copper Fox has asked Tetra Tech to review the data related to the silver content of the mineralization for possible inclusion in the resource estimate.

Feasibility Study -- Mining Plan -- Copper Fox has been advised by Tetra Tech that due to manpower shortages and scheduling difficulties of staff the March 31st timeline for completion of the Feasibility Study will not be achieved. The main difficulty being encountered lies with the completion of the Mine Plan, the most critical component in the Feasibility Study, which now appears to be six to eight weeks behind schedule. Due to the fact many important components of the Feasibility Study cannot be finalized until the mine plan is completed, a further delay will ensue. It is now expected that completion of the Feasibility study will be delayed until mid-late summer, 2012.

Copper Fox senior management has had a series of high level meetings with senior representatives of Tetra Tech to review in detail all aspects of the Feasibility Study with particular emphasis on completion of the Mine Plan. Copper Fox has retained Jim Gray of Moose Mountain Technical Services (MMTS) as its Company Representative to work in-house with Tetra Tech's mining team. Mr. Gray and the MMTS team have a considerable amount of experience in the planning and optimizing of large open pit projects over the past 30 years, including a number of projects in North Western BC, also the detailed mine plan for the Schaft Creek Preliminary Feasibility Study completed in September 2008, was performed by his group.

Elmer Stewart President and CEO of Copper Fox said, "The delay is disappointing as it will add further delay in completion of the Feasibility Study on our Schaft Creek project. Our objective has always been to complete a realistic and practical feasibility study to maximize the economics of the project. The addition of Jim Gray will complement the Tetra Tech mine planning group to efficiently complete the most economic mine plan for the Schaft Creek project. We are confident that the combined efforts will get this project back on track. Fortunately the other components of the feasibility study outside the Mine Plan are well advanced. This unexpected delay may be an opportunity to allow inclusion of the updated 2011 drilling results from the Paramount and Liard zones into the mine plan and an opportunity to re-visit the possibility of incorporating the silver into the updated resource estimate."

About Copper Fox

Copper Fox is a Canadian based resource development company listed on the TSX-Venture Exchange (CUU-TSX-V) with a corporate office in Calgary and an operations office in Vancouver.

The Company is working on completing a feasibility study on the Schaft Creek Mineral Deposit, one of the largest undeveloped copper, gold, molybdenum and silver deposits in North America. The feasibility study is being led by Tetra Tech Wardrop on a minimum 120,000 tpd open pit mine and is expected to be completed by mid-summer of 2012.

Copper Fox holds title and a 100% working interest in a contiguous 21,024.96 hectare (51,954 acre) property which includes the Schaft Creek deposit subject to a 3.5% Net Profits Interest held by Royal Gold, Inc., a 30% carried Net Proceed Interest held by Liard and an earn back option held by Teck Resources Limited ("Teck"). Copper Fox is currently earning a 78% interest in Liard from Teck. Teck's earn back option to acquire 20%, 40% or 75% of the Copper Fox interest in the Schaft Creek project is triggered upon completion of a positive feasibility study. Should Teck elect to exercise its option for 75% they are required to fund subsequent property expenditures up to a total of 400% of those incurred by Copper Fox ($74.2 as of December 1, 2011) and arrange for project financing, including the Copper Fox portion. For full details of the option please refer to the Company's website www.copperfoxmetals.com.

In March 2011, the Company acquired mineral claims located adjacent to the Schaft Creek property totaling 2,978.32 hectares (7,360 acres) (the "March 2011 Mineral Claims") which are subject to a 2% Net Smelter Return ("NSR"). Copper Fox has the option to repurchase, at any time, one-half of the NSR on the March 2011 Mineral Claims for a total purchase price of $3 million. In September 2011, the Company acquired mineral claims located adjacent to the Schaft Creek property totaling 6,115.11 hectares (15,111 acres) (the "September 2011 Mineral Claims") which are subject to a 2% NSR. Copper Fox has the option to repurchase, at any time, one-half of the NSR on the September 2011 Mineral Claims for a purchase price of $1 million. The March 2011 Mineral Claims and the September 2011 Mineral Claims are subject to inclusion with the Schaft Creek project under the terms of the Area of Interest provisions of the Teck Option Agreement.

Additionally Copper Fox holds mineral claims totaling 3,947.06 hectares (9,753 acres) in the Liard Mining District of BC not subject to the Teck earn-back.

For additional information contact: Investor line 1-866-913-1910 or J. Michael Smith, EVP, at 1-604-689-5080

On behalf of the Board of Directors

Elmer B. Stewart
President & 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.