Mr. Elmer Stewart reports

COPPER FOX LOCATES A NEW ZONE OF COPPER MINERALIZATION 1,200M NORTH OF THE KNOWN SCHAFT CREEK DEPOSIT; DRILLING EXTENDS THE PARAMOUNT ZONE TO THE SOUTH WITH AN INTERSECTION OF 0.56% CUEQ OVER 324M

Copper Fox Metals Inc. has released the balance of the assay results from the 2011 diamond drilling program completed on the Schaft Creek deposit. The locations of 2011 drill holes are shown on the Copper Fox website. Highlights are:

• DDHCF418B-2011 intersected 0.3 per cent copper, 0.06 gram per tonne gold, 0.038 per cent molybdenum and 1.57 g/t silver (0.56 per cent copper equivalent) over a 324-metre core interval starting at a core length of 255.6 metres. This hole also contains a 52-metre interval grading 0.72 g/t gold and 2.29 g/t silver starting at a core depth of 580.4 metres.
• DDHCF422-2011, located 1,200 metres north of the Paramount zone, intersected a new zone of mineralization that averaged 0.15 per cent copper, 0.06 g/t gold, 0.01 per cent molybdenum and 1.01 g/t silver (0.25 per cent copper equivalent) over an interval of 235 metres starting at a core length of 83 metres.
• DDHCF422-2011 intersected the western edge (a 75-metre-wide portion) of a large, 1,800-metre-long-by-800-metre-wide chargeability anomaly located within the Schaft Creek mineral trend.
• DDHCF420-2011 intersected 0.31 per cent copper, 0.1 g/t gold, 0.014 per cent molybdenum and 1.25 g/t silver (0.46 per cent copper equivalent) over a core interval of 328 metres starting at a core depth of 326 metres, including a 127-metre interval of 0.42 per cent copper, 0.15 g/t gold, 0.025 per cent molybdenum and 2.44 g/t silver (0.67 per cent copper equivalent) starting at a core depth of 527 metres.
• DDHCF425-2011 intersected two intervals of mineralization, including 0.38 per cent copper, 0.12 g/t gold, 0.021 per cent molybdenum and 2.2 g/t silver (0.58 per cent copper equivalent) over a core interval of 63.7 metres starting at a core length of 566 metres.

Elmer Stewart, president of Copper Fox, stated: "The interpretation that the Schaft Creek mineral resource could host other deposits is strongly supported by the mineralization in DDHCF422-2011. Although a considerable amount of drilling is required to delineate and determine the significance of this discovery, the continuity of the mineralization and its location on the western edge of a large strong chargeability anomaly suggests that this zone has considerable potential. This discovery marks a significant milestone in understanding the mineral potential of the Schaft Creek project. DDHCF418B, DDHCF420-2011 and DDHCF425-2011 were drilled between the Paramount and Liard zones, and demonstrate continuity of the mineralization along strike and at depth. These holes contain higher-grade intervals, which, although narrowing to the south, are hosted in broad zones of copper mineralization with lower gold and molybdenum concentrations."

Diamond drilling analytical results

The weighted average grade for the mineralized intervals was estimated using a cut-off grade of zero. Internal intervals that exceed 20 metres in length are excluded from the weighted average calculation -- see accompanying table. DDH418-2011 was terminated due to drilling difficulties. DDH418B-2011 is located at the same collar as DDH418-2011.

Hole ID                     From         To    Interval         Cu       Au       Ag       Mo       CuEq
                              (m)        (m)         (m)        (%)    (g/t)    (g/t)      (%)        (%)

DDHCF418B-2011              41.6      117.6        76.0      0.150    0.030     0.46    0.003       0.19
                           117.6      255.6       138.0      0.214    0.060     1.08    0.017       0.35
                           255.6      580.4       324.8      0.301    0.060     1.57    0.038       0.56
                           580.4      632.4        52.0      0.065    0.710     2.29    0.002       0.51
DDHCF422-2011               83.0      318.0       235.0      0.146    0.060     1.01    0.010       0.25
Including                  119.3      157.4        38.1      0.273    0.092     2.10    0.010       0.36
DDHCF421-2011                                                              No significant mineralization
DDHCF420-2011              326.0      654.0       328.0      0.306    0.100     1.25    0.014       0.46
Including                  527.0      654.0       127.0      0.416    0.150     2.44    0.025       0.67
DDHCF424-2011               31.3       51.5        20.2      0.297    0.034     1.65    0.002       0.34
                           112.8      122.8        10.0      0.154    Trace     0.66    Trace       0.16
DDHCF425-2011              186.0      450.6       264.6      0.247    0.050     0.86    0.007       0.32
                           502.3      566.0        63.7      0.376    0.120      2.2    0.021       0.58 
 
Mineralized intervals included in this table do not represent true thickness.

DDHCF418B-2011 was completed to test the continuity of the mineralization in an area between the Paramount and Liard zones, where very little information previously existed. This hole intersected a significant zone of higher-grade mineralization below DDHCF403-2010 (see news release dated Feb. 13, 2011). Disseminated and fracture/veinlet-controlled chalcopyrite, bornite and molybdenite occur in phyllic-altered polylithic breccia and andesite. The significant interval of higher-grade gold-silver mineralization at the bottom of this hole appears to represent a new style of mineralization that was not previously intersected in the 2010 and 2011 drilling programs.

DDHCF420-2011 was also completed to test the continuity of the mineralization in an area between the Paramount and Liard zones. This hole intersected a broad zone of copper mineralization which includes a 127-metre interval of higher-grade mineralization. Disseminated and fracture/veinlet-controlled chalcopyrite, bornite and molybdenite occur in phyllic-altered andesite, including an interval of higher-grade gold-silver mineralization in the interval from 527 metres to 654 metres.

DDHCF425-2011 was also completed to test the continuity of the mineralization in an area between the Paramount and Liard zones. This hole intersected two significant intervals of mineralization in phyllic-altered andesite and tourmaline breccia. The 52-metre interval between the mineralized intervals reported in the table contained low-grade (less than 0.1 per cent) copper values hosted in andesite. The extent of the mineralization in this hole to the west has been delineated.

DDHCF422-2011 is located approximately 1,200 metres north of the Paramount Zone and was drilled for geotechnical/exploration purposes. This hole intersected copper-molybdenum mineralization at a core interval of 83 metres, and remained in a similar style of mineralization to the bottom of the hole at 318 metres. The mineralization shows a strong correlation to the outer edge (and weaker chargeability) of a large (1,800 metres by 800 metres) Titan-24 chargeability anomaly, the strongest portion of which occurs east of the drill hole collar location and remains untested by drilling.

DDHCF421-2011 was drilled for geotechnical purposes south of the Liard zone to sterilize this area for waste dump planning for the feasibility study. This hole intersected several narrow (less than four metres apparent thickness) of low-grade (0.1 per cent to 0.15 per cent) copper mineralization.

DDHCF424-2011 was completed to test the continuity of the mineralization intersected in DDHCF423-2011 (see news release dated Jan. 13, 2012). This hole intersected one significant interval of mineralization that appears to correlate with the mineralization in DDHCF423-2011.

Diamond drilling and sampling procedures

The diamond drilling was completed using HQ and NQ core sizes. Overall core recovery was estimated to be greater than 99 per cent. After cutting, one-half of the core is collected for sample preparation and analysis, and the other half is retained for future reference. Sample intervals were selected based on lithology changes/alteration intensity/estimated mineral content, and ranged from 0.9 to 3.1 metres. The majority of the sample intervals were two metres. Sample preparation was completed by ACME Analytical Laboratories Ltd. in Smithers, B.C., and analyses were completed by ACME in Vancouver, B.C. Base metals were assayed using the ACME's 7TD package, which includes four-acid digestion and ICP-ES finish. Lower detection limits are as follows: greater than 0.001 per cent copper, and greater than 0.001 per cent molybdenum. Silver values are determined by the 1EX with a lower detection limit of 0.1 g/t. Gold is assayed by the G6 fire assay package -- fusion of 30 grams followed by ICP-ES finish -- with a lower detection limit of 0.005 g/t. ACME has an ISO 9001:2008 rating.

Recoverable copper equivalent calculations are based on 88 per cent for copper plus 81 per cent for gold, 72 per cent for molybdenum and 71 per cent for silver. Metal prices are $2.50 (U.S.) per pound for copper, $1,075 (U.S.) per ounce for gold, $17 (U.S.) per pound for molybdenum and $16.10 (U.S.) per ounce for silver. Copper Fox is using these input data to allow the reader to relate the average grades of the mineralized intervals reported in 2010 and in 2011.

Quality control

Copper Fox follows a rigorous quality assurance/quality control program consisting of inserting standards, blanks and duplicates into the sample stream submitted to the laboratory for analysis.

Elmer B. Stewart, MSc, PGeol, president of Copper Fox, is the company's nominated qualified person pursuant to National Instrument 43-101, standards for disclosure for mineral projects. He has reviewed the technical information disclosed in this news release.

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