For those interested, here is the news release from Lions gate cancelling the business combination agreement:

Vancouver, BC Canada, April 24, 2009 -- Lions Gate Metals Inc. (TSX-V: LGM) ("Lions Gate") announces that the agreement outlined in the Binding LOI with Copper Fox Metals Inc. ("Copper Fox") of February 26, 2009 and as amended March 23, 2009, has ended today.

The business combination as proposed under the terms of the Binding LOI was subject to the successful negotiation of debt settlement agreements with Copper Fox's creditors. Lions Gate was successful in negotiating settlement agreements with 29 of the 31 creditors prior to the deadline of April 17, 2009. The settlement agreements were conditional upon completion of the business combination and two of the creditors were unwilling to wait until completion of the transaction. Therefore, the terms of this LOI were not achievable and the LOI has been cancelled.

Lions Gate is reviewing alternatives that would allow Lions Gate to pursue a business combination or similar arrangement with Copper Fox, and is in ongoing discussions with Copper Fox for that purpose.

About Lions Gate Metals

Lions Gate Metals Inc. is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage mineral projects. Lions Gate Metals owns 100 % of three substantial copper and molybdenum projects located in British Columbia. The management team understands the complex dynamics of the mining industry and has created a highly attractive corporate structure to maximize success.

Sincerely,

"Mark E. Hewett"