|November 27, 2007|
Copper Fox Continues Development of its Schaft Creek British Columbia Mineral Deposit
|Calgary, Alberta, November 27, 2007: Copper Fox Metals Inc. ("Copper Fox or the "Company") was disappointed to learn of the "suspension of construction at Galore Creek" announced yesterday by Joint Venture partners, NovaGold Resources Inc. and Teck Cominco Limited. |
Management wish to assure Copper Fox shareholders this event has no bearing upon what the Company is doing and will not affect the plans of the Company. Copper Fox is developing a stand alone project that will be advanced based on its own merit. The Company expects to release its first economic report (scoping study) within the next two weeks. Copper Fox is well funded and has sufficient cash on hand to carry out its winter development program.
About Copper Fox
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.
Investor inquiries, Jason Shepherd, Phoenix Communications Group
Tel: 1-866-913-1910, E-mail: firstname.lastname@example.org
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.
You can view the Next News Releases item: Mon Jan 14, 2008, Copper Fox Releases Positive Preliminary Economic Assessment on its Schaft Creek Deposit -- Prefeasibility Study for 100,000 tpd in progress
You can view the Previous News Releases item: Wed Nov 14, 2007, Copper Fox announces the renewal of the engagement of Jason Shepherd for Investment Relations Services
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