Shaft Creek Project 2016 Program

VANCOUVER, BC  - Elmer B. Stewart, President and CEO of Copper Fox Metals Inc. said, "The primary focus of the 2016 program for the Schaft Creek project is focused on resource modeling, a critical aspect of project development. The successful completion of the Preliminary Economic Assessment (PEA) on the Van Dyke project has moved this project from the exploration stage to the development stage, thus maintaining a proper balance in our property portfolio. To augment our property balance, Copper Fox has added the Mineral Mountain project, which we view as an economical, early stage entry into copper exploration in the Laramide copper province in Arizona. The increase in equity ownership in Carmax increases our metal holdings and provides a larger interest in a developing, potentially large porphyry copper-molybdenum-gold deposit located in a safe geopolitical jurisdiction. The Company will continue to focus on conserving cash, advancing its assets on a technical and value added basis and executing its corporate strategy."

For the three months ended January 31, 2016, Copper Fox had a comprehensive gain of $284,576 ($0.00 gain per share). For the period, the Company incurred $263,665 in expenditures toward furthering the development of its Van Dyke, Sombrero Butte and Mineral Mountain copper projects in Arizona. In addition, Carmax incurred $68,638 in exploration expenses during the period for its Eaglehead project.