Copper Fox Metals Inc. - Corporate Update and Third Quarter Results Three and
Nine Months Ended July 31, 2009
The Company has strengthened its working capital position during the quarter with the raising of
Copies of the financial statements and notes and related management discussion and analysis may be obtained on SEDAR at www.sedar.com, our Company web site at www.copperfoxmetals.com or by contacting the Company directly. All amounts are in Canadian dollars unless otherwise stated.
Financial Highlights and Significant Items
The Company successfully completed two financings during the quarter to address its working capital deficiency and to provide funding for its operational plans. During the third quarter the Company raised
A Special Meeting of the shareholders of the Company was held on
In addition to the
Selected Financial Information ------------------------------------------------------------------- Net (loss)/income per share - basic Net (loss)/income and diluted ------------------------------------------------------------------- 2009 ---- Third Quarter $ (490,856) $ - Second Quarter $ (353,763) $ - First Quarter $ (29,135,359) $ (0.28) 2008 ---- Fourth Quarter $ 1,890,230 $ 0.02 Third Quarter $ (1,307,400) $ (0.01) Second Quarter $ (720,878) $ (0.01) First Quarter $ (598,554) $ (0.01) ------------------------------------------------------------------- 2007 ---- Fourth Quarter $ (1,215,394) $ (0.02) -------------------------------------------------------------------
Liquidity
The Company had a working capital deficiency at
About Copper Fox
Copper Fox's activities are focused exclusively on Schaft Creek, one of the largest undeveloped copper, gold, molybdenum and silver deposits in
Schaft Creek is located within a contiguous land package that comprises 20,932 hectares situated in northwest British Columbia,
ON BEHALF OF THE BOARD OF DIRECTORS Elmer Stewart, P.Geol, MSc President and 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. Additional information, about the risks and uncertainties of the Company's business is provided in its disclosure materials, including its most recent annual and quarterly filings, filed with the securities regulatory authorities in
For further information: Jason Shepherd, investor relations, toll free at telephone 1-866-913-1910, Email: [email protected] or visit our web site at http://www.copperfoxmetals.com
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