2007 drilling and geophysical results all show increased potential for Schaft Creek deposit, Copper Fox says



    CALGARY, June 26 /CNW/ - Copper Fox Metals Inc. (TSX-V: CUU) said today
that drilling results indicate the Mineral Resource at the Schaft Creek
(Cu/Mo/Au), BC property is comparable in copper equivalent grade to the nearby
Cu/Au Galore Creek deposit. A NI 43-101 compliant resource report prepared by
Associated Geosciences Ltd. released in June of 2007 estimated Schaft Creek to
contain measured and indicated 1.393 billion tonnes of resource with 0.25% Cu,
0.019% Mo, 0.18 g/t Au and 1.55 g/t Ag.
    The company also announced that the Preliminary Economic Assessment
report (PEA) prepared by Samuel Engineering Ltd. on December 7, 2007 confirmed
that due to favorable differences of access, topography and climate between
the Schaft Creek and Galore Creek projects, the Schaft Creek project should,
on a comparative per tonne basis, have significantly less expensive access and
reduced capital and operating expenses. The Samuel PEA Case2 price assumptions
also predicted that Schaft Creek could mine a 0.61% CuEq grade producing
4,409,000 million tonnes of over a 31 year mine life. The metallurgical
testing to date has indicated excellent recovery rates to concentrate for both
copper and molybdenum.
    These findings are contained in Copper Fox's release of detailed
information on the completion of its 2007 drilling, geophysical, engineering
and economic studies.
    Guillermo Salazar, Copper Fox President, said "Together with geophysical
and engineering studies completed late last year, these findings augment our
confidence that Copper Fox is shaping up as a viable, major mining project of
the near future."
    Diamond drilling data indicates that the Liard Main Zone at the Schaft
Creek property in northwestern BC is larger than previously thought. During
2007 Copper Fox drilled 42 holes for a total of 6,274 metres. Five of these
holes tested the deposit's depth extension to the northeast; results from
these holes supported the indications from geophysical data of increased
mineral potential to the east and northeast of the existing outline of the
Main/Liard Zone. Of particular note were the results from DDH 07CF313, drilled
onto an area between the Paramount and Liard Main Zones west of Mount LaCasse.

    
    DDH 07CF313 returned:

    -------------------------------------------------------------------------
    From       To       Interval   Copper   Molybdenum   Gold        Silver
    -------------------------------------------------------------------------
    62.80 m    110 m    47.2 m     0.506%   0.016%       0.241 g/t   0.3 g/t
    -------------------------------------------------------------------------
    

    Detailed drilling and metallurgical results have been posted on Copper
Fox's website www.copperfoxmetals.com.
    Copper Fox is scheduled to complete a pre-feasibility study of the Schaft
Creek property in early Q3 2008. The study will review a 100,000 tpd mill; a
bankable feasibility study for the same production rate will be completed in
Q1 2009.
    Copper Fox also announced that geophysical testing of one of the proposed
mill sites, a 250-300 metre wide area not previously covered by geophysical
surveys or drilling, found a strong anomaly immediately east of the Liard Zone
with coincident chargeability and resistivity responses with signatures
similar to that of the Main/Liard Zone. This area will be subjected to further
geophysical surveys in the 2008 program prior to drilling to determine the
cause of the anomaly.

    About Copper Fox:

    Copper Fox (CUU, CPFXF) is a Canadian-based mining company listed on the
TSX-Venture Exchange. The Company has concentrated its project activities
exclusively to the Schaft Creek mineral deposit, one of the larger undeveloped
copper, gold, molybdenum and silver deposits in the world. Based on the PEA
(see News Release of January 14, 2008), the preliminary mining plan is
designed to extract the core 713.3 million tonnes of a Measured and Indicated,
43-101 compliant, Mineral Resource grading 0.304% copper, 0.218 g/t gold,
1.77 g/t silver, and 0.020% molybdenum, for a copper equivalent (based on the
study's Case 2 metal pricing) of 0.61% and a waste to ore ratio of 1.66 over
31 years. This sits within the current NI 43-101 Mineral Resource of
1.4 billion tonnes, using a 0.20% CuEq cut off. Currently the company is
working on a pre-feasibility study, which will be based on a 100,000 tpd
throughput scenario, and which is expected to be released this quarter.
    Copper Fox holds the property pursuant to an option agreement with Teck
Cominco Limited and has earned a direct 70% interest in the Schaft Creek
Mineral Deposit. The Company may acquire up to a 93.4% direct and indirect
interest in the property, subject to certain back-in rights to Teck Cominco
Limited.

    The TSX-Venture Exchange has not reviewed the contents of this news
    release and accepts no responsibility for the adequacy or 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.

    
                            DETAILED INFORMATION

    The 2007 Season's results are summarized as follows:

    Metallurgical Testing Update - Flotation

    Based on the metallurgical results to date, our consulting metallurgical
engineers suggest that the Marketing Section of the pre-feasibility study use
the following Copper and Molybdenum Concentrate values:


                               %Cu     %Mo    g/tAu   G/t A   ppm Re
                             ----------------------------------------
         Copper Concentrate   30.6    0.18    147.4    16.1     N/A
         Moly Concentrate      1.6    50.0      N/A     N/A     368
    

    The Copper Concentrate grade can reach up to 30.6% Cu after molybdenum
has been removed into a separate concentrate. It is possible that the ongoing
G&T locked cycle test data will produce higher copper concentrate grades, but
a balance between concentrate grade and metal recovery needs to be optimized.
Hyppaa Engineering had previously predicted a 30% grade at a 90% recovery for
use in the Scoping Study. "This type of high grade copper concentrate is
usually rewarded with premium payments," says Mr. Salazar.
    The rhenium assay from G&T test No.KM2050-33 was 227 ppm in a Molybdenum
Concentrate that assays 46.4% Mo. This equates to a rhenium assay of 245 ppm
into a Molybdenum Concentrate that assays 50% Mo. The PRA Laboratory assay of
rhenium for test F75 was 181 ppm into a Molybdenum Concentrate that assayed
18.44% Mo. This equates into a rhenium assay of 491 ppm into a Molybdenum
Concentrate that assays 50% Mo. A previous Hecla Mining report indicated that
a 33% Molybdenum Concentrate assayed 325 ppm rhenium. This translates into a
490 ppm rhenium assay for a 50% Mo concentrate. Hyppaa suggests averaging the
two recent values and use a value of 368 ppm as a conservative estimate of
rhenium content in the Molybdenum Concentrate.
    Rhenium is a metal used as an alloy in the catalytic converters that make
possible the use of unleaded gas and as an aluminum alloy for propellers in
jet engines. It sells for $5,000 an ounce at the present time. "We continue to
work with the consultants to gain confidence in the early rhenium results to
determine the pay ability of its rhenium content and expect to eventually see
this metal reflected in the revenue of the project," says Mr. Salazar.

    Pit Optimization and Resources Update

    In late 2007, Samuel Engineering completed the PEA. The PEA has a
designed capacity of 65,000 tpd of mill throughput. The PEA includes the
Resource Calculations completed by Associated Geosciences Ltd. in July of
2007. At PEA Case 2 metal prices copper represents 44% of the potential net
smelter revenue while molybdenum is 45% and gold is 10%. Silver and rhenium
represent between 1% and 2% of potential net smelter revenue. Copper Fox is
scheduled to publish its Pre Feasibility Study in early Q3 2008 which will be
based on a 100,000 tpd mill throughput. The Company expects to complete the
Feasibility Study based on a production rate of 100,000 tpd in Q1 2009.
    The PEA stresses the differences of access, topography and climate
between the Galore Creek and Schaft Creek projects which highlight the
significantly less expensive access, CAPEX and OPEX for Schaft Creek when
compared to Galore Creek. The PEA's open pit mine design envisions mining a
0.61% copper equivalent grade and 4,409,000 tonnes of equivalent copper over
the 31 year mine life.

    
    2007 Diamond Drilling Program

    A total of 42 drill holes were drilled in 2007 for a total depth of
6,275 meters. Drilling was allocated as follows:

    Table 1: 2007 Diamond Drilling Campaign

    -------------------------------------------------------------------------
                     Purpose                        Number of   Total Meters
                                                  Drill Holes
    -------------------------------------------------------------------------
    Extensions to Mineralization - NE Pit Slope
     and Snipe Lake                                     11           2,357.8
    -------------------------------------------------------------------------
    Proposed Tailings Ponds & Mill Site                 14           1,405.2
    -------------------------------------------------------------------------
    Proposed Waste Disposal Areas                       17           2,412.0
    -------------------------------------------------------------------------
    TOTALS                                              42           6,275.0
    -------------------------------------------------------------------------

    Extensions to Mineralization: NE Pit Slope - Snipe Lake

    Drilling into the north eastern portions (The Mt. LaCasse Ridge area) of
the deposit has been difficult at best. Low core recoveries and high winds are
the main difficulties encountered. Mineralization, however, was found by
previous operators and was confirmed in 2007. Of special note are the results
from DDH 07CF313, drilled into an area, between the Paramount and the Liard
zones, that is heavily weathered, leached and shattered. This hole returned:

    Table 2: Schaft Creek Project - DDH 07CF313 Results

    -------------------------------------------------------------------------
                                       Weigh-  Weigh-  Weigh-  Weigh-
             Total                        ted     ted     ted     ted
             Depth              Inter-    Avg     Avg     Avg     Avg  Eqv Cu
    Hole No   (m)    From    To    val   Cu_%    Mo_%  Au_g/t   Ag_g/t    %
    -------------------------------------------------------------------------

    07CF313  421.8   47.5    110  62.5  0.439   0.015   0.208   9.6319  0.765
    -------------------------------------------------------------------------
    07CF313  421.8  114.6  129.8  15.2  0.394   0.015   0.345   0.0001  0.725
    -------------------------------------------------------------------------
    07CF313  421.8  382.8  407.2  24.4  0.359   0.039    0.32   2.9898  1.053
    -------------------------------------------------------------------------
    

    This mineralization extends the Main or Liard zone north eastwards under
the La Casse Ridge and correlates to two mineralized intervals found in drill
hole T81CH198, one with 0.582% Cu, 0.01% Mo and 0.62g/t gold over 36.6 meters
and another of 6.1 meters grading 1.17% Cu, 0.03% Mo and 0.62 g/t Au. These
higher grade sections of mineralization extend north easterly away from the
Main or Liard zone and under the La Casse Ridge, into an area of the property
not previously. The ridge rises steeply to the north and east from the drilled
area. Attempts at testing possible extensions to this zone with holes
07CF316A/B (636.1 meters deep) and 07CF317A/B (122.0 meters deep) failed due
to the very difficult drilling conditions encountered.
    DDH's 07CF301, 07CF303, 07CF308 and 07CF309 were drilled onto the north
and west edges of a swamp located immediately south of the Main or Liard Zone.
The best mineral intersection here was found in DDH 07CF303 which returned
3.1 meters, assaying 1.28% Cu, 0.001% Mo and 0.020 g/t Au with no silver
values, from 94.2 to 97.2 meters of hole depth. Gold values of 0.60 and
0.68 g/t over 3.1 and 23.5 meters, respectively, were intersected in holes
07CF308 and 07CF309. DDH 07CF301 returned a 12.2 meter long intersection that
assayed 0.40% Cu, 0.002% Mo, 0.020 g/t Au and 0.5g/t Ag.

    
    Table 3: Liard South and NE Pit Slope - Snipe Lake Area

    -------------------------------------------------------------------------
                                       Weigh-  Weigh-  Weigh-  Weigh-
             Total                        ted     ted     ted     ted
             Depth              Inter-    Avg     Avg     Avg     Avg  Eqv Cu
    Hole No   (m)    From    To    val   Cu_%    Mo_%  Au_g/t   Ag_g/t    %
    -------------------------------------------------------------------------
    Liard South - Extension
    -----------------------
    -------------------------------------------------------------------------
    07CF301  192.7    9.7   30.2  20.5  0.221   0.014   0.057   0.0001  0.448
    -------------------------------------------------------------------------
    07CF301          48.5   54.6   6.1  0.236       0    0.02   0.0001  0.242
    -------------------------------------------------------------------------
    07CF301         109.4  121.6  12.2  0.401   0.002    0.02   0.5337  0.439
    -------------------------------------------------------------------------
    07CF301         143.0    146   3.1  0.169       0    0.03   0.0001  0.178
    -------------------------------------------------------------------------
    07CF303    138    8.8     18   9.1  0.324   0.001    0.02   0.0001  0.345
    -------------------------------------------------------------------------
    07CF303          48.5   60.7  12.2  0.454   0.001   0.055   0.0001  0.486
    -------------------------------------------------------------------------
    07CF303          75.9     85   9.1  0.201   0.001   0.007   0.0001  0.218
    -------------------------------------------------------------------------
    07CF303          94.2     97   3.1  1.279   0.001    0.02   0.0001  1.300
    -------------------------------------------------------------------------
    07CF303         136.3    138   1.7  0.197       0    0.03   0.0001  0.206
    -------------------------------------------------------------------------
    07CF308  104.9   25.6   31.7   6.1  0.236   0.001   0.021   0.8263  0.261
    -------------------------------------------------------------------------
    07CF308          43.9     47   3.1  0.192   0.001    0.02   0.0001  0.213
    -------------------------------------------------------------------------
    07CF308          77.4   80.5   3.1  0.367   0.003    0.06   0.0001  0.430
    -------------------------------------------------------------------------
    07CF309  111.3    9.5   32.9  23.5  0.232   0.014   0.068   0.0001  0.463
    -------------------------------------------------------------------------
    NE Pit Slope - Snipe Lake Area
    ------------------------------
    -------------------------------------------------------------------------
    07CF312  156.7   48.2   57.3   9.1   0.19   0.002   0.326   0.0001  0.320
    -------------------------------------------------------------------------
    07CF312          66.4   69.5   3.1  0.165   0.001    0.03   0.0001  0.189
    -------------------------------------------------------------------------
    07CF312          72.5   81.7   9.1  0.175   0.001   0.057   0.7318  0.210
    -------------------------------------------------------------------------
    07CF312         124.4  133.5   9.2  0.278   0.003   0.053   0.0001  0.339
    -------------------------------------------------------------------------
    07CF313  421.8   11.0     14   3.1  0.475   0.002    0.02   0.0001  0.511
    -------------------------------------------------------------------------
    07CF313          47.5    110  62.5  0.439   0.015   0.208   9.6319  0.765
    -------------------------------------------------------------------------
    07CF313         114.6  129.8  15.2  0.394   0.015   0.345   0.0001  0.725
    -------------------------------------------------------------------------
    07CF313         148.1  184.7  36.6  0.242   0.039   0.165   0.0001  0.877
    -------------------------------------------------------------------------
    07CF313         190.8  215.2  24.4  0.236   0.014   0.193   0.0001  0.505
    -------------------------------------------------------------------------
    07CF313         248.7  257.9   9.2  0.279   0.006   0.123   0.0001  0.407
    -------------------------------------------------------------------------
    07CF313         303.6    328  24.4  0.181   0.011   0.195   2.0004  0.413
    -------------------------------------------------------------------------
    07CF313         382.8  407.2  24.4  0.359   0.039    0.32   2.9898  1.053
    -------------------------------------------------------------------------
    07CF314  256.7    No significant
                       mineralization found
    -------------------------------------------------------------------------
    07CF315  149.9    No significant
                       mineralization found
    -------------------------------------------------------------------------
    07CF316  636.1  499.1  505.2   6.1  0.155   0.021    0.06   0.0001  0.488
    -------------------------------------------------------------------------
    07CF316         529.0  532.0   3.1  0.159   0.005    0.06   0.0001  0.252
    -------------------------------------------------------------------------
    07CF316         557.0  560.1   3.1  0.352   0.002    0.11   0.0001  0.416
    -------------------------------------------------------------------------
    07CF316         569.2  572.3   3.1   0.24   0.007    0.05   0.0001  0.360
    -------------------------------------------------------------------------
    07CF316         599.5  602.6   3.1  0.371   0.009    0.03   0.0001  0.515
    -------------------------------------------------------------------------
    07CF317    122   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF319  167.7  102.7  108.8   6.1  0.187   0.002   0.055   0.0001  0.234
    -------------------------------------------------------------------------
    07CF319         145.4  154.3   8.9  0.531   0.003   0.044   0.0001  0.589
    -------------------------------------------------------------------------
    07CF320A  36.3  NO ASSAYS
    -------------------------------------------------------------------------
    07CF321      0  NO ASSAYS
    -------------------------------------------------------------------------

    Table 4:  Drill Testing of Waste Disposal Areas

    A total of 31 drill holes for 3,817.2 meters were dedicated to testing
potential Waste Disposal Areas near the deposit. The following Table
summarizes the results from this testing.

    -------------------------------------------------------------------------
                                       Weigh-  Weigh-  Weigh-  Weigh-
             Total                        ted     ted     ted     ted
             Depth              Inter-    Avg     Avg     Avg     Avg  Eqv Cu
    Hole No   (m)    From    To    val   Cu_%    Mo_%  Au_g/t   Ag_g/t    %
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Waste Disposal Area
    -------------------
    -------------------------------------------------------------------------
    07CF291  122.5   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF292  136.9   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF293    125   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF294  151.4   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF295    120   36.1   39.2  3.05  0.242   0.013    0.05   0.0001  0.452
    -------------------------------------------------------------------------
    07CF295         75.55   78.6  3.05  0.165   0.001    0.06   0.0001  0.198
    -------------------------------------------------------------------------
    07CF296  185.4   52.3   58.3     6  0.226   0.005   0.115   0.0001  0.336
    -------------------------------------------------------------------------
    07CF296          76.6   82.7   6.1  0.225   0.002   0.085   0.0001  0.281
    -------------------------------------------------------------------------
    07CF296        104.05  107.1  3.05  0.209   0.005    0.02   0.0001  0.290
    -------------------------------------------------------------------------
    07CF296        128.45  131.5  3.05  0.159   0.006    0.02   0.0001  0.255
    -------------------------------------------------------------------------
    07CF296        140.65  146.8   6.1  0.274   0.003    0.04   0.0001  0.331
    -------------------------------------------------------------------------
    07CF297    154   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF298  153.3   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF299  110.3   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF300  119.2   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF302  149.1   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF304  139.9    4.6  139.9 135.3  0.296   0.011   0.107   1.5534  0.500
    -------------------------------------------------------------------------
    07CF305  129.5   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF306    128   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF307  136.6   No significant
                      mineralization found
    -------------------------------------------------------------------------
    07CF310  150.3    100    103   3.1  0.248   0.002    0.03   0.0001  0.287
    -------------------------------------------------------------------------
    Paramount - Waste
    -----------------
    -------------------------------------------------------------------------
    07CF311  200.6   No significant
                      mineralization found
    -------------------------------------------------------------------------
    

    DDH 07CF304 intersected 139.9 meters (from bottom of casing to bottom of
hole) assaying 0.296% Cu, 0.011% Mo, 0.107 g/t Au and 1.55 g/t Ag, with a CuEq
of 0.500%, and extends the West Breccia zone a further 400 metres to the
south, towards the swamp further south which was drill tested by holes 07CF301
and 07CF303. In addition, DDH's 07CF295 and 07CF296 returned up to 6.1 metres
of up to 0.274% Cu and assays of 0.115, 0.085 and 0.107 g/t Au. Although
narrow, these intersections prove the mineralization extends into these areas
as well.

    Geophysical Results - 2007 Results

    Condemnation testing of one of the proposed mill sites produced an
induced polarization - chargeability/resistivity anomaly immediately east of
the Liard Zone. It is 250-300 meters wide and is located in an area not
previously drill tested or covered by geophysical surveys. The coincident
chargeability and resistivity anomalies have a similar signature to those of
the Main/Liard Zone. This anomaly is directly south of the mineralization
found under the LaCasse Ridge. This summer's plans are to test this area in
detail with further geophysical surveys prior to drilling.





For further information:

For further information: Investor inquiries: Jason Shepherd, Phoenix
Communications Group, Tel: 1-866-913-1910, E-mail:
investor@copperfoxmetals.com

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