Mr. Elmer Stewart reports

COPPER FOX PROVIDES UPDATE ON DISCUSSIONS REGARDING SCHAFT CREEK

Copper Fox Metals Inc. has provided an update on the Schaft Creek project. Discussions are continuing between the company and Teck Resources Ltd. 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 Feb. 4, 2013, the feasibility study has been filed and is available on SEDAR. 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.

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