Marko/Mott Acquisition:

The acquired mineral tenures (consisting of 16 mineral tenures totaling 4,514.78 hectares) were purchased from Randy Marko and Paul Mott ("Marko/Mott") and are contiguous to the Company's Schaft Creek project. Consideration paid by Copper Fox was $25,000 cash and a 2% net smelter return (NSR) royalty on the mineral claims subject to a "Partial NSR Buyout Option". The Partial NSR Buyout Option allows Copper Fox at any time to repurchase half of the NSR for a cash payment of $1.0 million such that the NSR is reduced from 2% to 1%.

Jay/Scotch Option:

Copper Fox has acquired an option to purchase two separate mineral tenures and a contiguous group of five mineral tenures located south and west of the Schaft Creek project. The group of five mineral tenures is referred to as the Jay/Scotch group and has had a considerable amount of historical exploration (prospecting, sampling, trenching and chip sampling) completed. The copper mineralization is reported to occur as disseminations and veinlets in potassic altered quartz monzonite, syenite, quartz stockwork, tourmaline stockwork, carbonate veining and amphibolite (possibly mafic dikes). Copper grades reported from the sampling of trenches, outcrop, veinlets, veins and amphibolite range from less than 0.01% to 10%, gold values range from less than 0.01 g/t to 2.7 g/t and silver values range from less than 0.5 g/t to 24.1 g/t. Recent sampling by the vendor (four samples-not described) of the Scotch claims shows molybdenum values that range from 0.017% to 0.038%. The historical samples were not assayed for molybdenum. The alteration, copper-gold-silver metal signature, host rocks and tourmaline stockwork show many similarities to the southern portion of the Paramount zone in the Schaft Creek deposit. A cash payment of $25,000 was made to the vendor to hold the mineral tenures until such time as a property visit can be completed to assess and confirm the historical analytical results.