Copper Fox Clarifies Technical Disclosure on Eaglehead Project
VANCOUVER, British Columbia, May30, 2017(GLOBE NEWSWIRE) -- Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-V:CUU) (OTC:CPFXF) is issuing this news release to clarify and retract certain technical disclosures made by the Company regarding the resource estimates of the Eaglehead copper-molybdenum-gold project located in northern British Columbia (the "Eaglehead Property"). The Eaglehead Property is owned by Carmax Mining Corp. ("Carmax") (TSX-V:CXM), of which the Company owns 65.4% of the outstanding common shares.
On June 29, 2012, approximately two years before Copper Fox became a shareholder of Carmax, Carmax filed a Technical Report regarding the Eaglehead Property (the "Eaglehead Report").In May 2014, Copper Fox indirectly acquired a 42% equity interest in Carmax, and shortly thereafter Copper Fox began referencing the resource estimates contained in the Eaglehead Report.However, Copper Fox has not independently verified the resource estimates contained in the Eaglehead Report, and therefore the resource estimate should not be relied on until the Company has been able to verify it and support it with a technical report.
Accordingly, the Company wishes to retract all disclosure made by it with respect to the mineral resource estimates on the Eaglehead Property.The Company has removed any reference to the resource estimates on its website and other investor relations materials and advises and cautions readers that the retracted disclosure may continue to be found in the public domain.
Qualified Person:
Elmer B. Stewart, MSc. P.Geo., President of Copper Fox, is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
About Copper Fox:
Copper Fox is a Tier 1 Canadian resource company listed on the TSX Venture Exchange (TSX-V:CUU) focused on copper exploration and development in Canada and the United States.The principal assets of Copper Fox and its wholly owned Canadian and United States subsidiaries, being Northern Fox Copper Inc. and Desert Fox Copper Inc., are the 25% interest in the Schaft Creek Joint Venture with Teck Resources Limited on the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia and a 100% ownership of the Van Dyke oxide copper project located in Miami, Arizona. For more information on Copper Fox's other mineral properties and investments visit the Company's website at http://www.copperfoxmetals.com.
For additional information please contact: Lynn Ball at 1-844-464-2820 or 1-403-264-2820.
On behalf of the Board of Directors
Elmer B. Stewart
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.