COPPER FOX ANNOUNCES the Closing of a $2,500,000 Financing by an Insider

COPPER FOX ANNOUNCES the Closing of a $2,500,000 Financing by an Insider 
VANCOUVER, Oct. 24, 2012 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the 
"Company") (TSXV: CUU) is pleased to announce the closing of a previously 
announced financing (September 10, 2012) by an insider for proceeds of 
$2,500,000 (the "Financing"). 
The Financing consisted of the issuance of 2,173,913 units at a purchase price 
of $1.15 per unit, for aggregate net proceeds of $2,500,000. Each unit 
consists of one common share of Copper Fox and one common share purchase 
warrant of Copper Fox. Each warrant entitles the holder thereof to acquire one 
common share of Copper Fox at an exercise price of $1.25 prior to October 24, 
Monies raised from the Offering will be used to fund costs associated the 
Schaft Creek Feasibility Study, the Schaft Creek Environmental Assessment 
Application and general operating expenses. 
In accordance with applicable securities legislation, securities issued 
pursuant to the Financing are subject to a hold period of four months plus one 
day from the date of completing the Financing. 
No fees or commissions were paid as part of this transaction. 
About Copper Fox
Copper Fox is a Canadian-based resource development company listed on the TSX 
Venture Exchange (TSX-V:CUU) 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. 
Copper Fox holds title and a 100% working interest in the Schaft Creek project 
consisting of 55,779.56 hectares (137,834 acres). Included in this total are 
the "Schedule A" mineral tenures originally conveyed to Copper Fox pursuant to 
the option agreement dated January 1, 2002 between Teck Resources Limited 
("Teck") and Copper Fox (the "Teck Option Agreement"), which consist of 
8,334.34 hectares (20,594 acres). 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, 
together with the additional mineral tenures obtained by Copper Fox within the 
"Area of Interest" provided for in the Teck Option Agreement, an earn back 
option held by 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%, Teck is required to fund subsequent 
property expenditures up to a total of 400% of those incurred by Copper Fox 
($84.9 million to July 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 
The remainder of Copper Fox's registered interests in mineral tenures in 
British Columbia total 47,445.22 hectares (117,240 acres). These interests 
have been acquired by Copper Fox through mineral tenure acquisitions and 
mineral tenure purchase agreements subsequent to Copper Fox entering into the 
Teck Option Agreement. Certain portions of these registered mineral tenures 
are subject to inclusion within the Schaft Creek project pursuant to the terms 
of the "Area of Interest" provisions of the Teck 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 includes 
statements about statements about the use of proceeds for the recently 
completed Private Placement; the timing and completion of a the Feasibility 
Study; potential existence and size of mineralization within the Schaft Creek 
project; estimated timing and amounts of future expenditures and "earn-back" 
options; geological interpretations and potential mineral recovery 
processes. Information concerning measured mineral resources, indicated 
mineral resources and inferred mineral resources also may be deemed to be 
forward-looking information in that it reflects a prediction of the 
mineralization that would be encountered if a mineral deposit were developed 
and mined. 
In connection with the forward-looking information contained in this news 
release, Copper Fox has made numerous assumptions, regarding, among other 
things: the potential mineralization in the Schaft Creek deposit; 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; the continued 
financing of the Feasibility Study and Copper Fox' operations; the anticipated 
analytical results of the current drilling and metallurgical testing 
programs. 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: Copper Fox may not use the proceeds 
from the recently closed Private Placement as disclosed herein; the actual 
mineralization in the Schaft Creek deposit may not be as favourable as 
suggested; another deposit may never be discovered on Copper Fox's property, 
or contain anticipated mineralization, or mineralization of any significance 
at all; a detailed mine plan may not be completed in a timely manner, or at 
all; the Feasibility Study may not be completed within the contemplated time 
frame, or at all; the Environmental Assessment Application may not be obtained 
in a timely manner, or at all; the possibility that the metallurgical test 
work on the core samples does not recover significant percentages of copper 
mineralization; the possibility that future drilling on the Schaft Creek 
project may not occur on a timely basis, or at all; fluctuations in copper, 
the completed drill holes for which analytical results are not available may 
not return significant concentrations of either copper, gold, molybdenum or 
silver; commodity prices and currency exchange rates; conditions in the 
financial markets and overall economy may continue to deteriorate; Copper Fox 
may never complete the option to purchase the continuous group of five mineral 
tenures located south and west of the Schaft Creek project; uncertainties 
relating to interpretation of drill results and the geology, continuity and 
grade of mineral deposits; uncertainty of the metallurgical testwork, the 
uncertainty of the 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 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. 
Investor line 1-866-913-1910 or J. Michael Smith, EVP, at 1-604-689-5080 
SOURCE: Copper Fox Metals Inc. 
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CO: Copper Fox Metals Inc.
ST: British Columbia
-0- Oct/24/2012 23:45 GMT
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