http://www.copperfoxmetals.com/s/NewsReleases.asp?ReportID=571124&_Type=News-Releases&_Title=Copper-Fox-Reports-2012-Annual-Financial-Results

The Company's working capital was $5,139,258 at October 31, 2012 inclusive of an increase to prepaid expenses and deposits relating to an agreement on the Schaft Creek property and an increase in accounts receivable with respect to a tax credit claimed.

During the year ended October 31, 2012, the Company raised a total of $17,548,125 from the completion of private placements totaling $17,205,000, 725,000 options exercised for total proceeds of $248,000 and 126,833 warrants for total proceeds of $95,125. In addition, the Company issued 1,272,727 common shares for repayment of a loan of$1,400,000. Additional funds will be required to complete the current planned activities and the Company may need to issue additional equity in connection with any development of the project (Refer to Teck Earn Back Option).

Copies of the financial statements and notes and related management discussion and analysis may be obtained on SEDAR at www.sedar.com, our Company web site at www.copperfoxmetals.com or by contacting the Company directly. All amounts are in Canadian dollars unless otherwise stated.