Mr. Elmer Stewart reports

COPPER FOX TO COMPLETE IP SURVEY ON MINERAL MOUNTAIN PROJECT

Copper Fox Metals Inc. and its wholly owned subsidiary, Desert Fox Copper Inc., have provided an update of recent studies and its exploration plans for its 100-per-cent-owned Mineral Mountain porphyry copper project located approximately 15 miles east of Florence, Ariz.

Highlights

• An 18.2-kilometre chargeability/resistivity survey is planned to test two large porphyry copper targets. Age dating (U/Pb zircon age) of the quartz monzonite stock yielded a mean age of 69.7 million plus or minus 400,000 annum, confirming a Laramide age for the intrusive.
• The copper mineralization is hosted in a multiphase intrusive ranging in composition from quartz monzonite to granodiorite. The Laramide age intrusive exhibits a significant degree of zircon inheritance from basement rocks but has not been structurally tilted (dismembered) after emplacement like many of the other Laramide age porphyry copper systems in Arizona.

Elmer B. Stewart, president and chief executive officer of Copper Fox, stated: "The above highlighted points and our efforts over the past two years has redefined the geology, identified two large porphyry copper targets, demonstrated the mineral potential of the project and strongly refutes many of the previous interpretations and concepts related to the Laramide age intrusion at Mineral Mountain. This intrusive is located on the same structural trend that hosts the Globe-Miami, Resolution and Ray porphyry deposits which have similar age dates and zircon inheritance from basement source rocks as the intrusive at Mineral Mountain. All the data, along with the size of the mineralized footprint, alteration patterns and widespread copper mineralization suggest the Laramide intrusive at Mineral Mountain could host a large porphyry copper system. The IP survey is designed to test the depth extent of the copper mineralization exposed in both targets and establish drill locations for the next phase of exploration."

Geophysical survey

Geofisica TMC has been contracted to complete an 18.2 km deep penetrating chargeability/resistivity survey over target No. 1 and target No. 2. The geophysical survey consists of nine, 400 m spaced lines designed to test at depths of more than 500 m and will include the historical chargeability anomaly outlined in 1971 within target No. 1. As part of the process to obtain the permit required to conduct the geophysical survey, the Bureau of Land Management (BLM) has advised that an environmental assessment will be required. The geophysical survey is expected to commence on receipt of permit approvals from the BLM and the Arizona State Land Department.

Significance of age dates

A recent study by Seedorff, et al., utilizing uranium-lead zircon geochronology on porphyry copper deposits in the Miami-Globe-Resolution-Ray area of Arizona indicated that the intrusions hosting Laramide age porphyry copper deposits exhibit variable magmatic sources and in places, a significant degree of zircon inheritance from basement source rocks. U-Pb zircon ages for intrusives in the Globe-Miami, Pinto Valley and Resolution deposits ranged from circa 69 million to 61 million annum and 69 million annum at Ray. The ages of the inherited zircon cores correspond closely to the ages of basement rocks implying that basement rocks of similar ages and lithologies contributed to the magmas that produced these Laramide porphyry copper deposits. The study was able to investigate the intrusives hosting the Laramide porphyry copper deposits at various depth due to normal faulting related to extensional tectonics during the Cenozoic period that dismembered and tilted many of these intrusives exposing various depth within the porphyry systems for study.

Source: Seedorff et al.: Temporal evolution of the Laramide arc: U-Pb geochronology of plutons associated with porphyry copper mineralization in east-central Arizona, the Geological Society of America Field Guide 55.

Age dating

Age date (U/Pb zircon age) determinations were completed on zircons extracted from a sample of the quartz monzonite stock from the Mineral Mountain project. The study of the zircons yielded a Laramide age and a significant amount of inheritance from older Precambrian age basement rocks. The Laramide age dates (based on 27 age determinations) ranged from 66 million to 74 million annum, with a weighted mean age of 69.7 million annum plus or minus 400,000 annum, statistically indistinguishable from dated lithologies from other porphyry copper systems in this part of Arizona.

The Precambrian zircons fall into two statistical groups: younger Proterozoic and older Proterozoic. The younger Proterozoic zircons yield a weighted mean age of 1,311 million annum plus or minus 16 million annum, while the older Proterozoic zircons yield a weighted mean age of 1,661 million annum plus or minus 22 million annum. These Proterozoic dates line up well with the units in the region. The Ruin/Oracle granite has ages in the 1,300-million-annum to 1,400-million-annum range, while the Madera diorite has been dated around 1,630 million annum.

Structural analysis

An analysis of 1,110 measurements of dikes and mineralized veins to determine the geometry of the Laramide age intrusive (69.7 million annum plus or minus 400,000 years ago) and orientation of mineralized structures was completed to optimize the orientation of the proposed geophysical survey.

The study included four classes of intrusive dikes and four classes of hydrothermal vein types of Laramide age. All classes show modal dips within 20 degrees of vertical, though strike directions vary (systematically with age) from north 15 degree west to due north to north 68 degrees east. These results demonstrate that since the Laramide igneous and hydrothermal events, the intrusive remained upright and that there was no tilting of the porphyry system.

Petrographic studies

Petrographic studies indicate the presence of a multiphase intrusive stock with mineralized and a non-mineralized granodiorite phases in addition to the mineralized quartz monzonite. The variable magnetite (trace to 5 per cent), hornblende (0 to 7 per cent) and biotite concentrations in the quartz monzonite samples suggests the possibility of several phases of quartz monzonite emplacement. The petrographic work confirmed earlier potassic, pervasive sericite and late-stage propylitic alteration phases and confirmed mineralogical changes in disseminated, quartz veinlet and fracture controlled chalcopyrite mineralization to secondary malachite, covellite and chalcocite due to weathering/oxidization/enrichment processes that were active subsequent to the Laramide hydrothermal event.

Analytical and sampling procedures

The age dating analysis was completed by GeoSep Services located in Moscow, Idaho. The procedure used to extract the zircons from the sample is as follows: crush (if necessary), sieve, water wash to remove lighter particles (such as clay), separate in lithium meta-tungstate to remove particles with a specific gravity less than 2.95, remove magnetic grains with a hand magnet and a Frantz magnetic separator, separate in Di-iodomethane (methylene iodide) to remove particles with a specific gravity less than 3.33 followed by collections of zircon.

Elmer B. Stewart, MSc, PGeol, president and chief executive officer of Copper Fox, is the company's non-independent, nominated qualified person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.

About Copper Fox Metals Inc.

Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25-per-cent interest in the Schaft Creek joint venture with Teck Resources Ltd. on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100-per-cent ownership of the Van Dyke oxide copper project located in Miami, Ariz.

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