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Copper Fox announces its request for a trading halt
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Calgary, June 11, 2007, Copper Fox Metals Inc. ("Copper Fox" or the
"Company") (TSX-V -- CUU) announces that, as a result of information
provided to the Company on June 7, 2007 by its independent Qualified
Person, Keith McCandlish, Vice President and General Manager of
Associated Geosciences Ltd. (AGL), the Copper Equivalent Values
provided to Copper Fox by AGL and reported by Copper Fox in its News
Release of May 9, 2007 may be materially understated. As a result, the
classification of the resources is understated.
An error in the formula used by AGL to calculate the copper equivalent
has been identified. The Company is advised by AGL that the correction
to the copper equivalent calculation will not affect the grades of
individual resource blocks, tonnes or contained metal of the Schaft
Creek deposit.
The resource estimate announced on May 9, 2007 is being reviewed by the
Company in detail with its consultants, in conjunction with its review
of the copper equivalent values, and the Company will issue a further
news release to announce the results of this review. The Company
requested the TSX-venture exchange halt trading of the stock until such
time as recalculation of the copper equivalent values has been
completed.
About Copper Fox
Copper Fox is a Canadian based Junior Natural Resource mining company
listed on the TSX-Venture Exchange trading under the symbol CUU. The
Company is working toward the economic development of the world class
copper-gold-molybdenum mineral deposit located at Schaft Creek situated
in north west British Columbia, Canada. The Company is in the process
of evaluating the feasibility of developing an open pit mine with a
minimum capacity of 65,000 tonnes/day processing rate over a minimum
life of 15 years. 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 Schaft Creek property.
For further information on Copper Fox please contact Jason Shepherd,
Investor Relations toll free at 1-866-913-1910, Email
investor@copperfoxmetals.com or contact Guillermo Salazar at
403-264-2820. Please visit the Copper Fox web site at
www.copperfoxmetals.com
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, receipt
of property titles, and potential mineral recovery processes;
anticipated dates for receipt of permits, approvals and other
milestones; anticipated results of drilling programs, feasibility
studies and other analyses; anticipated availability and terms of
future financing; 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.
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Copyright (c) 2007 COPPER FOX METALS INC. (CUU) All rights reserved.
For more information visit our website at
http://www.copperfoxmetals.com/ or send
mailto:investor@copperfoxmetals.com
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