Copper Fox Metals is a Canadian-based resource company focused on developing the world-class Schaft Creek Project in northwestern British Columbia. The project hosts a measured and indicated resource of 1.4 billion tonnes containing 4.76 billion pounds of copper, 4.5 million troy ounces of gold, 32.5 million troy ounces of silver, and 255.2 million pounds of molybdenum, and has excellent potential for both resource expansion and new discoveries.

Copper Fox Metals holds rights to acquire up to a 93.4% interest in the Schaft Creek Project pursuant to a 2002 option agreement with Teck Cominco. To date, Copper Fox has earned a 70% direct interest in the project.Upon completing a positive bankable feasibility study, Teck Cominco can exercise certain back-in rights in order to participate in the project in partnership with Copper Fox Metals.

On September 15th 2008 Copper Fox released a National Instrument 43-101 compliant Preliminary Feasibility Study, click here. The study indicates that the deposit can be developed economically as an open pit mine and recommends proceeding forward towards a full feasibility study.

The study projects:

• A Measured and Indicated Resource of 1.393 billion tonnes with 0.25% Cu, 0.18g/t Au, 0.019% Mo, 1.55g/t Ag at a Copper Equivalent of 0.20% cutoff;
• A Mineable Reserve mill feed of 812.2 million tonnes of 0.301% Cu, 0.212g/t Au, 0.020% Mo and 1.76g/t Ag;
• 18.6% before tax internal rate of return;
• $11.734 billion Pre-Tax Cash Flow (undiscounted);
• $2.764 billion NPV before taxes, discounted at 8%;
• The revenue generated by all the by-products covers all operating costs and adds a credit of (US) $0.32 /lb of copper produced to the revenue stream. Thus, a negative operating cost for copper is estimated;
• 4.7 years before tax payback, and 4.9 years after tax payback.

For the base case, recoverable rock value per tonne is US $31.47 and cash operating costs are US $12.49 per tonne. The PFS confirms the viability of Schaft Creek and highlights the advantages of the project including: location, comparatively low capital expenditure requirements and operating costs and high metal recoveries."