REMINDER - Copper Fox Webcast Conference Call on June 5, 2012 at 12:00 PM EST
June 05 2012 - 8:00AM
PR Newswire (Canada)
VANCOUVER, June 5, 2012 /CNW/ - ("Copper Fox" or the "Company") Mr.
Elmer B. Stewart, President and Chief Executive Officer, Mr. J.
Michael Smith, Executive Vice President and Ms. Cathie Henderson,
Chief Financial Officer invite you to participate in a
webcast/conference call on Tuesday June 5, 2012 at 12:00 pm Eastern
(9:00 am PST) to discuss the recently announced resource estimate
for the Schaft Creek copper-gold-molybdenum-silver deposit located
in northwest British Columbia, Canada. To access the webcast, which
includes a slide presentation, or to pre-register please follow:
http://event.on24.com/r.htm?e=471078&s=1&k=ECF7ADDDF630AA2CFFAEBB4B1C48E3C6
Participants will require Windows MediaPlayer(TM). Please note
that this is listen only mode. To participate in the conference
call please dial 888-231-8191, or locally in Toronto 647-427-7450.
To ensure your participation, please call in approximately ten
minutes prior to the scheduled start of the call. The webcast will
be archived and can be accessed on the Copper Fox Metals web site
www.copperfoxmetals.com or on the CNW Group web site
www.newswire.ca. About Copper Fox Copper Fox is a Canadian-based
resource development company listed on the TSX-Venture Exchange
with a corporate office in Calgary and an operations office in
Vancouver and is involved in the exploration and development of the
Schaft Creek copper-gold-molybdenum-silver deposit located in
northwest British Columbia, Canada. The Company is working on
completing a feasibility study on the Schaft Creek Mineral Deposit,
one of the largest undeveloped copper, gold, molybdenum and silver
deposits in North America. The feasibility study is being led
by Tetra Tech Wardrop on a minimum 120,000 tpd open pit mine and is
expected to be completed mid-late summer, 2012. Copper Fox holds
title and a 100% working interest in the Schaft Creek project
consisting of 44,265.52 hectares (109,382 acres). Included in
this total are the "Schedule A" mineral tenures 8,334.34 hectares
(20,594 acres) originally conveyed to Copper Fox pursuant to the
2002 Option Agreement. The "Schedule A" mineral tenures are
subject to a 3.5% Net Profits Interest held by Royal Gold, Inc., a
30% carried Net Proceeds Interest held by Liard Copper Mines
Limited ("Liard") and an earn back option held by Teck Resources
Limited ("Teck"). On completion of the feasibility study,
Copper Fox will earn Teck's 78% interest in Liard. Teck's
earn back option to acquire either, 20%, 40% or 75%, of Copper
Fox's interest in the Schaft Creek property is triggered upon
delivery of a positive feasibility study to Teck. Should Teck
elect to exercise its option for 75%, they are required to fund
subsequent property expenditures up to a total of 400% of those
incurred by Copper Fox ($75.9 million to January 31, 2012) and
arrange for project financing, including the Copper Fox
portion. For full details of the Teck earn back option please
refer to the Company's website www.copperfoxmetals.com. The
remainder of the mineral tenures totaling 35,931.18 hectares
(88,788 acres) has been obtained by Copper Fox through mineral
tenure acquisitions and mineral tenure purchase agreements.
Some of these mineral tenures are subject to inclusion within the
Schaft Creek project under the terms of the Area of Interest
provisions of the Option Agreement. *United States investors are
advised that current Mineral Resources are not current Mineral
Reserves and do not have demonstrated economic viability. All
figures are rounded to reflect the relative accuracy of the
estimate and in keeping with "best practice principles". 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. Cautionary Note Regarding Forward-Looking
Information This news release contains "forward-looking
information" within the meaning of the Canadian securities
laws. Forward-looking information is generally identifiable
by use of the words "believes," "may," "plans," "will,"
"anticipates," "intends," "budgets", "could", "estimates",
"expects", "forecasts", "projects" and similar expressions, and the
negative of such expressions. Forward-looking information in
this news release include statements about the completion of the
feasibility study for the Schaft Creek project. In connection with
the forward-looking information contained in this news release,
Copper Fox has made numerous assumptions, regarding, among other
things: the geological, metallurgical, engineering, financial and
economic advice that Copper Fox has received is reliable, and is
based upon practices and methodologies which are consistent with
industry standards; and the continued financing of the Feasibility
Study; and the anticipated analytical results of the current
drilling program. While Copper Fox considers these
assumptions to be reasonable, these assumptions are inherently
subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could
cause Copper Fox's actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information contained herein. Known risk factors include,
among others: the actual mineralization in the Schaft Creek deposit
may not be as favorable as suggested by the updated resource
estimate; the NI 43-101 report related to the updated resource
estimate may not be filed within the anticipated timeframe, or at
all; the updated resource estimates may not be included in the
feasibility study; the feasibility study may not be completed
within the contemplated time frame, or at all; the possibility that
future drilling on the Schaft Creek project may not occur on a
timely basis, or at all; fluctuations in copper and other commodity
prices and currency exchange rates; uncertainties relating to
interpretation of drill results and the geology, continuity and
grade of mineral deposits; uncertainty of estimates of capital and
operating costs, recovery rates, and estimated economic return; the
need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing;
the possibility of delay in exploration or development programs or
in construction projects and uncertainty of meeting anticipated
program milestones; uncertainty as to timely availability of
permits and other governmental approvals A more complete discussion
of the risks and uncertainties facing Copper Fox is disclosed in
Copper Fox's continuous disclosure filings with Canadian securities
regulatory authorities at www.sedar.com. All forward-looking
information herein is qualified in its entirety by this cautionary
statement, and Copper Fox disclaims any obligation to revise or
update any such forward-looking information or to publicly announce
the result of any revisions to any of the forward-looking
information contained herein to reflect future results, events or
developments, except as required by law. Copper Fox Metals Inc.
CONTACT: Investor line 1-866-913-1910 or J. Michael Smith, EVP,
at1-604-689-5080
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