COPPER FOX files an amended Preliminary Feasibility Study on SEDAR

CALGARY, Jun 17, 2010 (Canada NewsWire via COMTEX News Network) --

As a result of ongoing reviews by the Alberta Securities Commission of reporting issuer compliance with disclosure requirements under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), Copper Fox Metals Inc. ("Copper Fox") (TSX-Venture: CUU) is issuing the following news release to announce that Copper Fox has filed today on SEDAR an amended NI 43-101 compliant Technical Report entitled "Preliminary Feasibility Study on the Development of the Schaft Creek Project Located in Northwest British Columbia, Canada" (the "Amended PFS")" with an effective date of September 15, 2008. The Amended PFS was prepared by Samuel Engineering, Inc. The Amended PFS replaces the original preliminary feasibility study (the "PFS") of the same date that was filed on SEDAR October 30, 2008.

The Amended PFS includes the following changes:

a) responsibility of Technical Contributors to the Amended PFS shown on the title page and in sections 4.1, 4.2, 4.3, 5.1, 5.2 of the Amended PFS and the PFS; and

b) the certificates of qualification of the Independent Qualified Persons who prepared the Amended PFS.

Copper Fox advises that the conclusions and recommendations of the Amended PFS are the same as those contained in the PFS filed on SEDAR on October 30, 2008. The PFS projects a $2.76 billion NPV after recovery of capital costs and before taxes discounted at 8%, and a pre tax cash flow of $11.37 billion over a 22.6 year mine life.

About Copper Fox

Copper Fox is a Canadian-based resource company listed on the TSX-Venture Exchange (CUU). Copper Fox is focused exclusively on completing the feasibility study on Schaft Creek, one of the largest undeveloped copper, gold, molybdenum and silver deposits in Canada. Copper Fox has earned a 100% working interest in the Schaft Creek project subject to a 30% net proceeds interest held by Liard Copper Mines Limited (Liard) a private company 78% owned by Teck Resources Limited ("Teck") and a 3.5% net profits interest held by International Royalty Corporation. Teck's 78% equity interest in Liard represents 23.4% of Liard's 30% net proceeds interest in the Schaft Creek project (referred to as the "indirect interest"). Copper Fox can also earn Teck's 23.4% "indirect interest" by completing a "positive" Feasibility Study, under the terms of the 2002 Option Agreement with Teck.

Teck may at any time elect to exercise one of it's "earn back options" pursuant to the terms and conditions of the 2002 Option Agreement. On receipt of a Positive Bankable Feasibility Study, as defined, Teck has 120 days in which to elect to either: i) exercise one of its earn-back options, or ii) retain a 1% net smelter return royalty, or iii) receive shares of Copper Fox to a value of $1,000,000.

If Teck exercises its earn back option, then Teck can elect to acquire either a 20%, a 40% or a 75% of Copper Fox's interest in the Schaft Creek Project from Copper Fox by solely funding subsequent expenditures equal to either 100%, 300% or 400% of Copper Fox's prior expenditures (of which approximately $46 million expenditures have been incurred to date). If Teck elects to earn-back a 75% working interest, Teck will be responsible for arranging Copper Fox's share of project financing and will recover the project financing funds from Copper Fox's share of metal sales until payout is reached.

The Schaft Creek Project is a contiguous land package of claims that comprises 21,025 hectares and a further contiguous group of 3,947 hectares that is not subject to Teck's earn-back, situated in northwest BC Canada. On September 15, 2008, Copper Fox announced the results of a Preliminary Feasibility Study on the Schaft Creek deposit that contemplated processing 100,000 tonne per day from an open pit mine using a standard flotation recovery process. The PFS estimated the current Mineral Resources* (using a 0.2% copper equivalent cutoff) at Schaft Creek includes; Measured Resources of 463.5 million tonnes grading 0.30% copper, 0.23 g/t gold, 0.02% molybdenum and 1.55 g/t silver and Indicated Resources of 929.8 million tonnes grading 0.23% copper, 0.15 g/t gold, 0.02% molybdenum and 1.56 g/t silver.

On behalf of the Board of Directors

Elmer B. Stewart P. Geol. MSc.

President and CEO