CALGARY, March 31 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V: CUU) is pleased to announce an update on the feasibility study on the Schaft Creek deposit and its 2010 first quarter results. During the quarter the Company has spent a further $1,153,498 towards completion of the feasibility study on the Schaft Creek deposit and reported a loss for the first quarter of $446,822.

Elmer Stewart, President & CEO, stated, "The Company has made significant progress in the past year improving its financial stability and working toward completion of the feasibility study on the Schaft Creek project. The recent announcement by the government of the province of British Columbia and the federal government of Canada on construction of the northwest high voltage transmission line has removed one of the major obstacles to project development like Schaft Creek and others in northern British Columbia. The Company believes that the construction of the power line combined with completion of the feasibility study will demonstrate that the Schaft Creek deposit contains a significant resource with substantial economic value."

Quarterly Highlights

Teck Resources Limited ("Teck") has transferred the 100% ownership of the Schaft Creek project, which is subject to 30% net proceeds interest held by Liard Copper Mines Limited (78% owned by Teck) and an earn-back option held by Teck, to Copper Fox pursuant to an Option Agreement between the parties dated January 1, 2002.

To the end of December 2009, Copper Fox has incurred a total of $43,299,162 of expenditures that have been accepted by Teck as applicable expenditures pursuant to the Option Agreement on the Schaft Creek project.

Compilation of all geological and analytical information collected prior to 2006 and during the 2007 and 2008 field seasons is being incorporated into an updated geological model. The updated geological model is expected to be completed by the end of April 2010.

Additional metallurgical test work was completed to optimize recovery of the copper-gold-molybdenum-silver at Schaft Creek. The results of this test work when received will be incorporated into the feasibility study."