Operating and Financial Results
COPPER FOX ANNOUNCES APRIL 30, 2017 SECOND QUARTER
OPERATING AND FINANCIAL RESULTS
Vancouver, British Columbia – June 2 9, 201 7. Copper Fox Metals Inc. (“Copper Fox” or the
“Company”) (TSX-V: CUU – OTC-Pink: CPFXF) is pleased to announce that its unaudited interim
consolidated April 30, 2017 financial statements have been filed on SEDAR.
All of the Company’s material subsidiaries are wholly owned , except for Carmax Mining Corp.
(“Carmax”) (TSX-V: CXM), of which the Company owns 65.4% of the outs tanding common shares.
These unaudited interim consolidated financial statements include 100% of the assets and liabilities
related to Carmax and include a non -controlling interest portion, representing 34.6% of Carmax’s assets
and liabilities that are not owned by the Company.
For the six months ended April 30, 2017, Copper Fox had a comprehensive loss of $419,365 (April 30,
2016 – $1,503,524) which equated to $0.00 loss per share (April 30, 2016 - $0.00 loss per share).
During the six months ended April 30, 2017, the Company incurred $127,651 in expenditures toward
furthering the development of its Van Dyke , Sombrero Butte and Mineral Mountain copper projects.
Copies of the financial statements, notes , and related management discussion and analysis may be
obtained on SEDAR at www.sedar.com, the Company ’s web site at www.copperfoxmetals.com or by
contacting the Company directly. All references to planned activities and te chnical information
contained in this news release have been previously announced by way of news releases . All amounts
are expressed in Canadian dollars unless otherwise stated.
Elmer B. Stewart, President and CEO of Copper Fox stated, “ Copper Fox’s primary focus is on
advancing the Schaft Creek and Van Dyke projects. The remodeling work at Schaft Creek is continuing
to determine if an updated resource estimation is required. The permitting process on the Van Dyke
project has commenced with collection of the historical data and preliminary discussions with the
Arizona Department of Environmental Quality . The court decision on the Judicial Review related to
Carmax Mining Corp ’s Eaglehead project has been further delayed until July 17, 2017. Despite the
increasing signs of investor sentiment and a new commodity cycle, Copper Fox is continuing its strategy
of conserving cash, advancing its assets and executing its corporate strategy.”
Q2 2017 Highlights:
The Schaft Creek Joint Venture (“SCJV”) has approved the balance of the input parameters
including; pit slope, metal recoveries, mining and processing costs, TC/RC’s for the remodelling
work.
The approved input parameters allows completion of the remaining phases of the remodelling
and determination if an updated resource estimation is required for the Schaft Creek deposit.
2
A review of the technical information related to the 57 mineral claims located on the Mineral
Mountain project during the first quarter 2017 indicated that these claims did not warrant
payment of the recording fees. Accordingly, these claims were allowed to lapse.
The decision of the Supreme Court for the Province of British Columbia regarding the Judicial
Review related to Carmax Mining Corp’s Eaglehead project has been delayed unti l July 17,
2017.
Elmer B. Stewart, MSc. P. Geol., 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.
Selected Financial Results
April 30, 2017
January 31, 2017
October 31, 2016
July 31, 2016
3 months ended 3 months ended 3 months ended 3 months ended
Loss before non-operating items and taxes $ 453,045 $ 207,056 $ 633,383 $ 305,814
Net loss 453,045 207,056 37,171 305,814
Comprehensive (gain)/loss (220,645) 640,010 (724,814) (201,748)
Comprehensive (gain)/loss per share, basic and diluted (0.00) 0.00 (0.00) (0.00)
April 30, 2016 January 31, 2016 October 31, 2015 July 31, 2015
3 months ended 3 months ended 3 months ended 3 months ended
Loss before non-operating items and taxes $ 413,437 $ 314,440 $ 358,917 $ 484,385
Net loss 413,437 314,440 358,917 484,385
Comprehensive (gain)/loss 1,995,501 (491,977) (14,846) (309,555)
Comprehensive (gain)/loss per share, basic and diluted 0.00 (0.00) (0.00) (0.00)
Liquidity
As at April 30, 2017, the Company had $113,882 in cash (October 31, 2016 - $847,505).
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 S chaft
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.
3
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward -looking statements within the meaning of the Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934, and forward -looking information within the meaning of the
Canadian securities law s (collectively, “forward -looking information”). Forward-looking information in this news release
include statements about focusing on a dvancing the Company’s projects ; completion of the resource remodeling ; obtaining
permits for the Van Dyke project; continuing the corporate strategy.
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, 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
stability of economic and market conditions . 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 futur e results, performance or achievements expressed or implied by the
forward-looking information contained herein. Known risk factors include, among others: exploration of the projects may
not find copper mineralization in significant quantities or at all, or at the expected cost; the overall economy may deteriorate;
uncertainty as to the availability and terms of future financing; copper prices and demand may fluctuate; currency exchange
rates may fluctuate; conditions in the financial markets may deteriora te; and 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 re gulatory 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 su ch
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.