I gues they are serious about Arizona ... Elmer said they we're going down on Sunday to do some due diligence. Maybe it was to sign some paperwork? Let's get to the aerials and drilling in AZ I guess, while we wait for the BFS on Schaft and surrounding lands.

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VANCOUVER, July 23, 2012 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) is pleased to announce that subject to the approval of the TSX-Venture Exchange, the Company intends to complete a non-brokered private placement to raise up to CDN $4,025,000 (the "Offering". The Offering is expected to consist of 3,500,000 units at a purchase price of $1.15 per unit, for aggregate gross proceeds of$4,025,000. Each unit consists of one common share and one common share purchase warrant of Copper Fox. Each warrant entitles the holder thereof to acquire one common share of Copper Fox at an exercise price of CDN$1.25 prior to 5:00 pm on the one year anniversary of the closing date of the Offering.

Mr. Ernesto Echavarria, a Director, insider and control person of Copper Fox as defined by the regulators of the TSX-Venture Exchange, has committed to participating in 100% of the Offering.

Monies raised from the Offering will be used to fund costs associated with the recently announced purchase of the Van Dyke and Sombrero Butte Copper projects in Arizona, the Schaft Creek Feasibility Study and general operating expenses.