Copper Fox Announces Update on Appeal Period for Judicial Review of Eaglehead Project

VANCOUVER, British Columbia, Aug. 23, 2017 (GLOBE NEWSWIRE) -- Copper Fox Metals Inc. (“Copper Fox” or the “Company”) (TSX-V:CUU) (OTC:CPFXF) is pleased to announce that the appeal period for the decision of the Supreme Court of British Columbia regarding the judicial review in which petitioners had challenged a decision of the Chief Gold Commission for the province of British Columbia in respect of Carmax Mining Corp.’s (“Carmax”) (TSXV:CXM) Eaglehead Project has expired and that no appeal has been filed.

The background to the judicial review and the court’s decision were set out in the Company’s news release dated July 18, 2017. Subsequent to the court’s decision, the petitioners had 30 days to file an appeal to the British Columbia Court of Appeal.

Elmer B. Stewart, President and CEO of Copper Fox stated, “Copper Fox is pleased that the issue related to the judicial review has finally concluded. Due to the length of time taken with this matter, it is not possible to conduct a meaningful field program for the Eaglehead Project within the balance of the summer season. Copper Fox intends to complete a review of the results of all exploration work completed on the Eaglehead Project over the past three years with the objective of working with Carmax to establish a 2018 field program”.

Copper Fox, through its wholly owned subsidiary Northern Fox Copper Inc., owns 65.4% of the issued shares of Carmax. Carmax is the registered owner of the Eaglehead project.

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 Ltd. 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.

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 that: Copper Fox intends to complete a review of the results of all exploration work completed on the Eaglehead Project over the past three years with the objective of working with Carmax to establish a 2018 field program.

In connection with the forward-looking information contained in this news release, Copper Fox and its subsidiaries have 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. 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 other: the review of the exploration results collected over the past three years for the Eaglehead Project may be delayed or not completed at all; an exploration program may not be completed on the Eaglehead Project in 2018 or at all; the need to obtain additional financing to explore the property 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.

For additional information contact: Investor line 1-844-484-2820 or Lynn Ball, at 1-403-264-2820.