VANCOUVER, Sept. 9 /CNW/ - Copper Fox Metals Inc. (TSX-Venture: CUU) at
the request of the Investment Industry Regulatory Organization of Canada
(IIROC), on behalf of the Toronto Stock Exchange, states it is unaware
of any material information or circumstance of Copper Fox, other than
previously disclosed information filed on Sedar, that would give rise to
the recent market activity in the trading of its securities. The company
is working on the completion of a Feasibility Study on its giant
porphyry Copper, Gold, Molybdenum, Silver project at Schaft Creek
British Columbia which is expected in the fourth quarter of 2010.
Current activities include a diamond drilling program for geotechnical
testing of the proposed mill site, diamond drilling to define a possible
higher grade starter pit, testing of Induced Polarization anomalies and
completion of environmental studies on the deposit.
About Copper Fox
Copper Fox is a Canadian-based resource company listed on the
TSX-Venture Exchange (CUU). Copper Fox is focused exclusively on
completing the Feasibility Study on Schaft Creek, one of the largest
undeveloped copper, gold, molybdenum and silver deposits in Canada. The
Company holds a 100% working interest in the property subject to certain
earn-back options held by Teck Resources limited, and a 3.5% Net Profits
Interest held by Royal Gold, Inc.
The Schaft Creek Project is a contiguous land package of claims that
comprises 21,025 hectares and a further contiguous group of 3,947
hectares that is not subject to Teck's earn-back, situated in northwest
British Columbia, Canada. On September15, 2008, Copper Fox announced
the results of a Preliminary Feasibility Study ("PFS") on the Schaft
Creek deposit that contemplated processing 100,000 tonne per day from an
open pit mine using a standard flotation recovery process. The PFS
estimated the current Mineral Resources* (using a 0.2% copper equivalent
cutoff) at Schaft Creek includes; Measured Resources of 436.5
million tonnes grading 0.30% copper, 0.23 g/t gold, 0.02% molybdenum and
1.55 g/t silver, Indicated Resources of 929.8 million tonnes
grading 0.23% copper, 0.15 g/t gold, 0.02% molybdenum and 1.56 g/t
silver.
*United States investors are advised that current Mineral Resources
are not current Mineral Reserves and do not have demonstrated economic
viability. All figures are rounded to reflect the relative accuracy of
the estimate and in keeping with "best practice principals".
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 anticipated timing and completion of a Feasibility
Study on Copper Fox's giant porphyry copper, gold, molybdenum, and
silver project at Schaft Creek, anticipated timing results of the
current drilling program; estimated timing and amounts of future
expenditures and "earn-back" options; geological interpretations and
potential mineral recovery processes Information concerning mineral
reserve and resource estimates also may be deemed to be forward-looking
information in that it reflects a prediction of the mineralization that
would be encountered if a mineral deposit were developed and mined.
Copper Fox's future production, operating and capital costs; operating
or financial performance; geological interpretations and potential
mineral recovery processes, are forward-looking statements. Information
concerning mineral reserve and resource estimates also may be deemed to
be forward-looking information in that it reflects a prediction of the
mineralization that would be encountered if a mineral deposit were
developed and mined. Forward-looking information is necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by management, are inherently subject to significant
business, economic and competitive uncertainties, risks and
contingencies. For any forward looking information given, management
has assumed that the geological, metallurgical, engineering, financial
and economic advice it has received is reliable, and is based upon
practices and methodologies which are consistent with industry
standards. There can be no assurance that such information will prove to
be accurate, and actual results and future events could differ
materially from those anticipated in such information. Important factors
that could cause actual results to differ materially from Copper Fox's
expectations include: fluctuations in copper and other commodity prices
and currency exchange rates; uncertainties relating to interpretation of
drill results and the geology, continuity and grade of mineral deposits;
uncertainty of estimates of capital and operating costs, recovery rates,
production estimates and estimated economic return; the need for
co-operation of government agencies and native groups in the exploration
and development of properties and the issuance of required permits; the
need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing; the
possibility of delay in exploration or development programs or in
construction projects and uncertainty of meeting anticipated program
milestones; uncertainty as to timely availability of permits and other
governmental approvals; and other risks and uncertainties disclosed in
Copper Fox's continuous disclosure filings with Canadian securities
regulatory authorities at www.sedar.com.
The forward-looking information in this news release is based on Copper
Fox's current expectations and Copper Fox assumes no obligations to
update such information to reflect later events or developments, except
as required by law.