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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Updated Letter to Shareholders - June 2012

Nice little two page update to shareholders on the website (date June 21, 2012). Nothing new in one sense, but a couple nice quotes reaffirming what has already been said about timelines and a porphyry district are below. Elmer thanks shareholders for their patience and understanding during late 2011/early 2012 at the end.

Trying not to get my hopes up here, but I think we're really gearing up for the home stretch this time (e.g. The Teck 120 trigger)

"Although the Company experienced an unavoidable delay in its primary goal of completing a feasibility study on the Schaft Creek deposit it is well on schedule to meet the revised target date of mid to late summer 2012. The debt crisis in Europe and economic uncertainty in North America and Europe are creating challenging and uncertain times for resource companies as an industry. Copper Fox is well postured to meet these challenges with a strong management team and a world class project as its principal asset.

After the 2010 exploration season, Copper Fox was of the opinion that the Schaft Creek area represented a porphyry district and not just a single porphyry deposit. Based on this interpretation, Copper Fox acquired an additional 27,871.35 hectares (68,872 acres) of mineral claims, contiguous to the Schaft Creek deposit, to cover the areas considered to have potential for additional porphyry deposits.

http://www.copperfoxmetals.com/i/pdf/2012-Letter-to-Shareholders.pdf

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