Copper Fox secures shipping facilities for concentrate at Port of Stewart for Schaft Creek project

Press Release Source: Copper Fox Metals Inc. On Thursday October 13, 2011, 8:00 am EDT

VANCOUVER , Oct. 13, 2011 /CNW/ - Mr. Elmer Stewart , President and CEO of Copper Fox Metals Inc. ("Copper Fox" or "the Company") (TSXV:CUU.V) is pleased to announce completion of a Land Reservation Agreement ("the Agreement") between Copper Fox and Stewart Bulk Terminals Ltd. (Stewart Bulk) which secures the shipping requirements for storage and loading of concentrate received from the proposed Schaft Creek mine through the Port of Stewart, British Columbia.

Mr. Stewart said "With so many active projects located in this part of British Columbia, Copper Fox is delighted to have secured the facilities required to ship concentrate from the Schaft Creek project. This transaction with Stewart Bulk, who has over many years established a reputation for quality and efficient workmanship in the concentrate storage and loading services, represents another milestone in the development of the Schaft Creek project".

Copper Fox has completed a number of trade-off studies related to the transportation; storage and loading of concentrate from the proposed Schaft Creek mine project. These studies clearly show the Port of Stewart has the required capacity and is the shortest distance to a deep water seaport thereby providing the most economic location from which to export concentrate. The Port of Stewart is strategically located in an area referred to as the Golden Triangle of British Columbia. The concentrate would be transported using a road from the Schaft Creek mine to highway 37, an upgraded road that is currently being used by other mines to deliver concentrate to the Port of Stewart.

The Agreement, which will be made available on www.sedar.com, reserves space for Copper Fox at the facilities of Stewart Bulk for construction of a concentrate storage warehouse to store up to 50,000 tonnes of concentrate and the use of the loading facilities at Stewart Bulk to meet the anticipated monthly loading requirements of the Schaft Creek Project. Pursuant to the terms and conditions of the Agreement, Copper Fox and Stewart Bulk are required to negotiate a Terminal Services Agreement that covers the terms and conditions for the storage and loading of bulk concentrate onto ocean going freighters for shipment of bulk concentrate. The Agreement is assignable to another party and covers a term from October 12, 2011 through April 1, 2019 .

Pursuant to the terms of the Agreement, Stewart Bulk will construct the concentrate storage Warehouse on land that has been previously permitted for their current concentrate storage and loading operations. On the commencement of the shipments of concentrate from the Schaft Creek project, the Terminal Services Agreement will be in effect until Copper Fox or its predecessor permanently discontinues shipments of concentrate or until the Terminal Services Agreement is terminated.

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