Mr. Elmer Stewart reports

COPPER FOX ANNOUNCES NON-BROKERED PRIVATE PLACEMENT HAS BEEN FULLY SUBSCRIBED

Copper Fox Metals Inc.'s recently announced non-brokered private placement of up to $1.5-million is fully subscribed. The offering consists of 7,317,073 units at a price of 20.5 cents per unit. Each unit consists of one common share in the capital of the company and one-half common share purchase warrant.

Each whole warrant will entitle the holder to purchase one common share for a two-year term at an exercise price of 25 cents during the first 12-month period after the closing of the offering and 30 cents during the subsequent 12-month period after the closing of the offering. In the event the weighted average price of the common shares listed on the TSX Venture Exchange is above 29 cents in the first 12-month period, or 33 cents during the subsequent 12-month period after the closing of the offering, for a period of 15 consecutive trading days, the expiry date of the warrants may be accelerated, in whole or in part at the discretion of the company, to any date or dates, as the case may be, that is in each case at least 30 days after the first date such threshold is met.

In accordance with applicable securities legislation, securities issued pursuant to the offering are subject to a hold period of four months plus one day from the date of the completion of the offering. The net proceeds raised from the offering will be used to continue exploration and development activities on Copper Fox's 100-per-cent-owned Van Dyke, Eaglehead, Mineral Mountain and Sombrero Butte projects, working capital, and general corporate and administrative purposes of the company.

About Copper Fox Metals Inc.

Copper Fox is a Tier 1 Canadian resource company focused on copper exploration and development in Canada and the United States. The principal assets of Copper Fox and its wholly owned subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are: the 100-per-cent ownership of the Van Dyke oxide copper project located in Miami, Ariz.; a 100-per-cent interest in the Mineral Mountain and Sombrero Butte porphyry copper exploration projects located in Arizona; and a 25-per-cent interest in the Schaft Creek joint venture with Teck Resources Ltd. on the Schaft Creek copper-gold-molybdenum-silver project and a 100-per-cent-owned Eaglehead polymetallic porphyry copper project, each located in northwestern British Columbia.

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