Copper Fox Metals, Inc. ( TSX-V: CUU ) ( CA;CUU on our AlphaTrade tickers )
Copper Fox Metals Inc. (TSX-V: CUU)
About Copper Fox
Copper Fox is a Canadian-based mining company listed on the TSX-Venture
(CUU). The Company has concentrated its project activities exclusively to the
Schaft Creek mineral property---one of the largest undeveloped copper, gold,
molybdenum and silver deposits in Canada. Based on a NI 43-101 compliant
resource estimate prepared June 22, 2007 by Associated Geosciences Ltd, the
Measured and Indicated resource at Schaft Creek is 1.393 billion tonnes
averaging 0.25% copper (7.7 billion pounds), 0.18 gpt gold (8.1 million ounces),
0.019% molybdenum (584 million pounds) and 1.55 gpt silver (69.4 million ounces)
at a 0.20% copper equivalent ("CuEq") cutoff. The company is evaluating
the feasibility of developing an open pit mine with a minimum capacity of 65,000
tonnes per day with a mine life of 35 years. Should the availability of power
for this area increase, a + 100,000-tonne-per-day open pit mining operation will
be considered. Copper Fox holds the property pursuant to an option agreement
with Teck Cominco Limited whereby Copper Fox may acquire up to a 93.4% direct
and indirect interest in the property. Title to the property is in good standing
before the BC Government until 2015. Copper Fox has delivered notice to Teck
Cominco that it has surpassed the $15,000,000 threshold of qualifying
expenditures to earn a direct 70% interest in Schaft Creek.
Schaft Creek is located in north western British Columbia, Canada, which is
considered to have a stable socio-political environment. This area is often
referred to as the "Gold/Copper Belt" and includes deposits such as Galore
Creek, and Red Chris. Copper Fox is in the environmental assessment process
required by the British Columbia and Canadian Governments for project permitting
and is consulting with the Tahltan Nation on the project development.
Guillermo Salazar S. P.Geol. is the internal qualified person for Copper Fox
and has reviewed this News Release.
For additional information contact:
Investor inquiries:
Jason Shepherd, Phoenix Communications Group
Toll Free:
1-866-913-1910
E-mail: investor@copperfoxmetals.com
Media and community inquiries:
Robert Simpson, PR Associates
Tel: 1-604-681-1407
E-mail: info@prassociates.ca
Copper Fox Office in Alberta: (403) 264-2820
On behalf of the Board of Directors
Guillermo Salazar S, President & CEO
The TSX Venture Exchange has not reviewed the contents of this
news release and accepts no responsibility for the adequacy or the accuracy
thereof.
This news release includes "forward-looking information" within the
meaning of the Canadian securities laws. Statements, other than statements of
historical fact, may constitute forward-looking information and include, without
limitation: anticipated timing and content of upcoming work programs, geological
interpretations, and potential mineral recovery processes; anticipated dates for
receipt of permits, approvals and other milestones; anticipated results of
drilling programs, scoping and feasibility studies and other analyses; future
production, operating and capital costs; and operating or financial performance.
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. For any forward looking information given, management has assumed that
the assay results it has received are reliable, and has applied geological
interpretation methodologies which are consistent with industry standards.
Forward-looking information involves various risks and uncertainties. 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 management's expectations include: fluctuations in 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 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 the Company's other
filings with Canadian securities regulatory authorities at www.sedar.com. The
forward-looking information in this news release is based on management's
current expectations and Copper Fox assumes no obligations to update such
information to reflect later events or developments, except as required by law.
Top 10 Mining Stocks.com ( Top Mining Stocks, LLC) does not accept responsibility for the adequacy or accuracy of this information.
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