Copper Fox files Schaft Creek FS paperwork

2013-02-04 08:18 ET - News Release

Mr. Elmer Stewart reports

COPPER FOX FILES POSITIVE FEASIBILITY STUDY ON SCHAFT CREEK PROJECT; FEASIBILITY STUDY FILED ON SEDAR

Copper Fox Metals Inc. has filed a National Instrument 43-101 technical report on SEDAR, pertaining to the previously announced positive feasibility study on the Schaft Creek deposit. The technical report is also available on Copper Fox's website.

For the highlights of the feasibility study, please see release of Dec. 21, 2012, Copper Fox Metals news releases.

The company has delivered a copy of the completed positive feasibility study to Teck Resources Ltd. Teck is reviewing the feasibility study and is discussing with the company its earn-back options available under the Teck option agreement dated Jan. 1, 2002. There can be no assurance that these discussions will lead to Teck exercising any of its earn-back options nor that the company and Teck will enter into a definitive joint venture agreement as contemplated under the Teck option agreement.

Elmer Stewart, president, stated: "The filing of the positive feasibility study and commencement of our discussions with Teck related to its earn-back rights are significant milestones for the Schaft Creek project. We look forward to these discussions regarding Teck's possible future involvement in the Schaft Creek project. In the meantime, the company will continue its work on the Schaft Creek project toward completion of the environmental assessment application and establishing the work programs to assess the economic benefit to the Schaft Creek project of additional drilling to upgrade the inferred resources located within the pit shell and additional metallurgical testwork to increase metal recoveries."

Elmer B. Stewart, MSc, PGeol, president of Copper Fox, is the corporation's nominated qualified person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed the technical information disclosed in this news release.

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