DDH CF405 TESTS CHARGEABILITY ANOMALY AND EXPANDS ZONE OF DEEP, HIGHER GRADE MINERALIZATION AT SCHAFT CREEK

VANCOUVER, Feb. 23, 2011 (Canada NewsWire via COMTEX News Network) --

Copper Fox Metals Inc. ("Copper Fox" or "the Company") (TSXV: CUU) is very pleased to announce the balance of the assay results from its 2010 diamond drilling program at the Schaft Creek porphyry deposit located in north western British Columbia. The objectives of the drilling program were to establish a higher grade starter pit to improve the economics of the feasibility study and to test at depth the IP chargeability anomaly defined in July and September 2010. Highlights are as follows:

Highlights:

    --  The higher grade mineralization intersected in DDH CF405 has
        significantly extended the mineralization intersected in DDH
        CF398, by 175m to the east, and 100m below the mineralized
        intersection reported in DDH CF398. The zone is open at depth,
        to the north and to the east. DDHCF405 intersected 0.473%
        copper, 0.344 g/t gold, 0.023% molybdenum and 2.22 g/t silver
        (0.82% copper equivalent) from 164.0m to the bottom of the hole
        at 648.31m a core interval of 484.31m.
    --  The chargeability anomaly, defined by the 14Mv contour,
        corresponds with the intersection of higher grade
        mineralization at 164m in DDH CF405.  Lower grade
        mineralization at shallower depths is associated with a weaker
        chargeability response.
    --  DDH CF406 is located 250m south and 137m east of DDH CF399.
        Drilling was suspended in low-grade mineralization similar to
        that intersected in the upper 164m of DDH CF405. DDH CF406
        intersected 0.54% copper, 0.10g/t gold, 0.023% molybdenum and
        1.54g/t silver (0.73% copper equivalent) over 15.4m from 126.6m
        to 142.5m. The hole is cased and will be completed when
        drilling resumes in 2011.
    --  The deeper portion of the higher grade mineralization located
        to the east and at depth below pre-2010 drill holes averages
        0.447% copper, 0.327 g/t gold, 0.029% molybdenum and 2.51 g/t
        silver (0.81% copper equivalent).
    --  The chargeability anomaly extends for a distance of at least
        600m east of DDH CF402, DDH CF405 and DDH CF399.  The untested
        extension to the chargeability anomaly is interpreted to be an
        extension to the mineralization intersected in these holes.
        This chargeability anomaly extends an additional 800m to the
        north and suggests a depth extent of greater than 800m in this
        portion of the Schaft Creek deposit.

Mr. Stewart, President of Copper Fox stated, "DDH CF405 contains the highest copper equivalent grade intersected in the 2010 drilling program. DDH CF405 extended the higher grade mineralization an additional 175m to the east into the chargeability anomaly confirming the relationship between the higher grade mineralization and the chargeability anomaly. The portion of the anomaly that has not been drilled suggests considerable potential to expand the size and average grade of the Schaft Creek deposit is encouraging and suggests that the majority of the Schaft Creek deposit occurs to the east under Mount LaCasse."

Diamond Drilling Results:

The weighted average grades (using a zero percent copper cutoff) for the mineralized intervals in DDH CF405 and DDH CF406 are set out below.

                                                                             Cu
                      From          Interval Copper Gold  Molybdenum Silver Eqv
DDH ID Dip   Azimuth   (m)   To (m)   (m)     (%)   (g/t)    (%)     (g/t)  (%)

CF-405 -55       90   10.90  164.00  153.10   0.23  0.03      0.02    0.92  0.34

                      164.00 648.31  484.31   0.47  0.34      0.02    2.22  0.82

           including  236.50 603.66  367.16   0.51  0.38      0.03    2.37  0.89

CF406  -55       90    9.44  199.95  190.51   0.21  0.04      0.01    0.75  0.28

           including  126.60 142.48   15.88   0.54  0.10      0.02    1.65  0.73

Note: Mineralized intervals reported in the above table are not true thickness

DDH CF405 is located 154m east of DDH CF398. The mineralization in the top 164m of this hole is a lower grade zone (essentially the outer edge of the deposit) above the higher grade mineralization. Starting at a depth of 164m the copper-gold-molybdenum-silver grades increase significantly. Mineralization is hosted in a series of potassically altered andesite, granodiorite and aplite dikes overprinted in places by phyllic alteration and late-stage, vein-controlled propylitic alteration. The intrusive breccias that host the mineralization in the other holes drilled in 2010 were not intersected in DDH CF405. Mineralization is open to the north, at depth, and to the east under Mount La Casse.

DDH CF406 intersected the interpreted lower grade mineralization to a depth of 200m. The hole was suspended for the holidays and is cased to allow resumption of this hole when drilling commences in mid-May 2011.

The weighted average grades of the mineralized holes completed over a strike length of 600m in 2010 (previously reported) are set out below for reference purposes:

                                                                            Cu
 DDH                 From          Interval Copper Gold  Molybdenum Silver Eqv
 ID   Dip   Azimuth   (m)   To (m)   (m)     (%)   (g/t)    (%)     (g/t)  (%)

CF398 -55       90    7.10  539.20  532.10   0.42  0.27      0.02    2.00  0.67

          including   7.10  61.40    54.30   0.70  0.42      0.04    2.80  1.13

          including  325.50 539.20  213.70   0.47  0.37      0.02    3.00  0.78

CF399 -55       90    9.14  517.24  508.10   0.39  0.10      0.05    2.09  0.67

          including   9.14  159.70  150.56   0.53  0.05      0.04    2.87  0.77

          including  462.74 517.24   54.50   0.45  0.33      0.06    3.01  0.94

CF401 -55       90    5.66  495.90  489.53   0.43  0.25      0.03    2.40  0.75

          including  158.00 442.49  283.78   0.55  0.38      0.03    3.15  0.98

          including  345.40 429.20   83.80   0.66  0.50      0.04    3.10  1.17

CF402 -55       90    4.57  581.25  576.68   0.31  0.32      0.03    2.27  0.70

          including  247.67 475.17  227.50   0.36  0.43      0.05    2.64  0.89

          including  421.42 475.17   53.75   0.45  0.53      0.06    3.74  1.12

CF403 -55       90   34.42  204.60  170.18   0.23  0.11      0.01    1.52  0.36

          including  38.42  89.00    50.25   0.46  0.29      0.02    3.31  0.76

CF404 -80      270   21.10  82.33    61.23   0.18  0.04      0.00    0.36  0.22

CF405 -58       90   10.90  164.00  153.10   0.23  0.03      0.02    0.92  0.34

                     164.00 648.31  484.31   0.47  0.34      0.02    2.22  0.82

          including  236.5  603.66  367.16   0.51  0.38      0.03    2.37  0.89

CF406 -60       90    9.44  199.95  190.51   0.21  0.04      0.01    0.75  0.28

          including  126.60 142.48   15.88   0.54  0.10      0.02    1.65  0.73

Note: Mineralized intervals reported in the above table are not true thickness

Higher Grade Zone:

The holes completed in 2010 intersected higher-grade copper-gold-molybdenum-silver mineralization to the east and below the pre-2010 drill holes. The upper portions of the 2010 holes drilled through an area that was previously tested by diamond drilling. Due to the lack of depth, the majority of the pre-2010 holes intersected lower grade mineralization, comparable to the upper portions of the 2010 holes (click here to see Figure 1 on Copper Fox website). The average grade of the of the deeper parts of the 2010 drill holes that extended the mineralization to the east toward Mount LaCasse and at depth into a previously untested area past the pre-2010 drill holes is 0.447% copper, 0.327 g/t gold, 0.029% molybdenum and 2.51 g/t silver (0.81% copper equivalent).

The area included in the extension of the mineralization to the east and at depth is at least 600m long and varies, from 80m to 200m in width and from 50m to 330m in depth.

Future Plans:

All deliverables required to complete the updated resource estimate have been delivered to AMEC. The resource estimate is expected to be completed by the end of March 2011.

The company plans to complete a high sensitivity airborne geophysical survey consisting of magnetic, electromagnetic and radiometrics over the entire Schaft Creek property covering approximately 51,000 acres. The company is currently sourcing a contractor to complete this survey.

The objective of the proposed 2011 drilling program is to continue testing the strike extent and most importantly the interval between 500m and 800m below surface in the zone of higher-grade mineralization. The block model generated by the updated resource estimate and the chargeability anomaly will be used to locate the collars of the 2011 drill holes. An 8,000m drill program is planned and is expected to commence in mid May 2011.

Diamond Drilling and Sampling Procedures:

The diamond drilling was completed using HQ, NQ and BQ core sizes. Core recovery was estimated to be greater than 97%. After cutting with a diamond saw, one half of the core was collected for sample preparation and analysis and the other half is retained for future reference. Sample intervals were selected based on lithology changes/alteration intensity/estimated mineral content. Sample intervals ranged from 0.75 to 3.00 metres. Sample preparation was completed by ACME Analytical Laboratories Ltd ("ACME") located in Smithers, British Columbia and analyses were completed by ACME in Vancouver, British Columbia.

Base metals were assayed using the ACME's 7TD package which includes 4-acid digestion and ICP-ES finish. Lower detection limits are as follows: Cu >0.001%, Mo >0.001%, Ag >2 g/t. Gold is assayed by the G6 fire assay package - fusion of a 30-gram followed by ICP-ES finish; with a lower detection limit of 0.005 g/t. ACME has a 9001:2008 International Standard Organization rating.

Copper equivalent calculations are based on 88% of the copper content plus 81% of the gold content, 72% of the molybdenum content and 71% of the silver content. Metal prices used for the purposes of the equivalency calculations are copper $US2.50/pound, gold $US1,075.00/ounce, molybdenum $US17.00/pound and silver $US16.10/ounce.

Quality Control:

Copper Fox follows a rigorous Quality Assurance/Quality Control program consisting of inserting standards, blanks and duplicates into the sample stream submitted to the laboratory for analysis.

Elmer B. Stewart, MSc. P. Geol., President of Copper Fox, is the Company's nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, has reviewed the technical information disclosed in this news release.