Looks good. There must be something big going on for it to take this long.

Sent 4:53PM ET 06/05/2013

Copper Fox Metals Inc (CUU:TSXV) - News Alert

Copper Fox provides update on discussions regarding Schaft Creek

Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) today provides an update on the Schaft Creek project and reports that

discussions are continuing between the Company and Teck Resources

Limited ("Teck") regarding Teck's back-in to the Schaft Creek

property. Discussions with Teck commenced following the Company's

completion of a National Instrument 43-101 technical report pertaining

to a feasibility study on the Schaft Creek Mineral Deposit. As

disclosed in the Company's news release dated February 4, 2013, the

feasibility study has been filed and is available on SEDAR (www.sedar.com). There can be no assurance that the discussions with Teck 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.

About Copper Fox

Copper Fox is a Canadian based resource development company listed on

the TSX-Venture Exchange (CUU-TSX-V) with a corporate office in Calgary

and an operations office in Vancouver.

The Company announced the results of a feasibility study on the Schaft

Creek Mineral Deposit, on December 21, 2012. Schaft Creek is one of

the largest undeveloped copper, gold, molybdenum and silver deposits in

North America. The feasibility study was completed by Tetra Tech

Wardrop at a nominal 130,000 tonne per day open pit mine.

The Schaft Creek project consists of 56,701.44 hectares (140,112

acres). Included in this total are the "Schedule A" mineral tenures

originally conveyed to Copper Fox pursuant to the Teck Option

Agreement, which consist of 8,334.34 hectares (20,594 acres). The

"Schedule A" mineral tenures are subject to a 3.5% Net Profits Interest

held by Royal Gold, Inc., a 30% carried Net Proceeds Interest held by

Liard and, together with the additional mineral tenures obtained by

Copper Fox within the "Area of Interest" provided for in the Teck

Option Agreement, an earn back option held by Teck. On completion of a

"Positive Bankable Feasibility Study" (as defined), Copper Fox earns

Teck's 78% interest in Liard. Teck's earn back option to acquire

either, 20%, 40% or 75%, of Copper Fox's interest in the Schaft Creek

Project is triggered upon delivery of a "Positive Bankable Feasibility

Study" (as defined) to Teck after which they have 120 days to make a

decision. Should Teck elect to exercise its option for 75%, Teck is

required to fund subsequent property "Expenditures" (as defined) up to

a total of 400% of those incurred by Copper Fox ($85.3 million to

December 31, 2012) and use its best efforts to arrange for project

financing, including the Copper Fox portion. For full details of the

Teck earn back option please refer to the Company's website www.copperfoxmetals.com.

The remainder of Copper Fox's registered interests in mineral tenures in

British Columbia total 48,367.10, hectares (119,518 acres). These

interests have been acquired by Copper Fox through mineral tenure

acquisitions and mineral tenure purchase agreements subsequent to

Copper Fox entering into the Teck Option Agreement. Certain portions

of these registered mineral tenures are subject to inclusion within the

Schaft Creek Project pursuant to the terms of the "Area of Interest"

provisions of the Teck Option Agreement.

Additionally the Company holds, through its wholly-owned subsidiaries,

mineral tenures located in Pinal County, Arizona (the 'Sombrero Butte

Copper Project') and in Miami, Arizona (the 'Van Dyke BLM Claims').

The Sombrero Butte copper project consists of 60 claims (3,342 acres)

located in the Bunker Hill Mining District, 44 miles northeast of

Tucson and the 35 Van Dyke BLM Claims (529 acres) located to the west

of the Van Dyke copper deposit in Miami.

On behalf of the Board of Directors

Elmer B. Stewart

President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as

that term is defined in the policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the

meaning of the Canadian securities laws. Forward-looking information

is generally identifiable by use of the words "believes," "may,"

"plans," "will," "anticipates," "intends," "budgets", "could",

"estimates", "expects", "forecasts", "projects" and similar

expressions, and the negative of such expressions. Forward-looking

information in this news release includes statements about Teck's earn

back options available under the "Teck Option Agreement" dated January

1, 2002 on Schaft Creek; discussions regarding the terms of a

definitive option joint venture agreement; and Teck's election to

exercise its earn back option.

In connection with the forward-looking information contained in this

news release, Copper Fox has made numerous assumptions. While Copper

Fox considers these assumptions to be reasonable, these assumptions are

inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could

cause Copper Fox's actual results, performance or achievements to be

materially different from any future results, performance or

achievements expressed or implied by the forward-looking information

contained herein. Known risk factors include: discussions with Teck

may not lead to Teck exercising any of its earn back options; the

Company and Teck may not enter into a definitive joint venture

agreement; and Copper Fox may not proceed or continue with activity on

the Schaft Creek project as currently planned.

A more complete discussion of the risks and uncertainties facing Copper

Fox is disclosed in Copper Fox's continuous disclosure filings with

Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety

by this cautionary statement, and Copper Fox disclaims any obligation

to revise or update any such forward-looking information or to publicly

announce the result of any revisions to any of the forward-looking

information contained herein to reflect future results, events or

developments, except as required by law.

SOURCE: Copper Fox Metals Inc.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/June2013/05/c5575.html

SOURCE: Copper Fox Metals Inc.

Investor line 1-866-913-1910 or J. Michael Smith, EVP, at 1-604-689-5080

CUU at 3:59PM ET on June 5, 2013 is:

Last: $0.69 CAD

Change: +0.01

Volume: 31,420

P/E Ratio: N/A

Today's High: $0.69 CAD

Today's Low: $0.68 CAD

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