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Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward looking information within the meaning of the Canadian securities laws (collectively, ‘forward looking information”).  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 include statements about: an estimated budget for the 2017 Schaft Creek program of approximately $0.9 million; updating the major parameters of the Schaft Creek project including long term metal pricing and FOREX and previously estimated Operating and Capital costs over the next several weeks; continuing collection of environmental baseline data using external consultants; obtaining a MYAB permit; completing the remodel of the Schaft Creek resource; and deciding on if an updated resource estimate for the Schaft Creek deposit is required.

In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have made numerous assumptions regarding, among other things: the geological, metallurgical, engineering, financial and economic advice that Copper Fox has received is reliable and is based upon practices and methodologies which are consistent with industry standards; the speed of field studies; the usefulness of historical reports; and the stability of economic and market conditions.  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 among others: the budget of the 2017 program may be under-estimated; the time to receive the MYAB permit; the Permitting and Social aspects of the project and updating the resource model may not occur within the time expected frame or at all; uncertainties relating to interpretation of the previous results; the overall economy may continue to deteriorate; the need to obtain additional financing and uncertainty of meeting anticipated program milestones; uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs; fluctuations in copper prices and demand; currency exchange rates; conditions in the financial markets; and uncertainty as to timely availability of permits and other governmental approvals.