Copper Fox announces extension of expiry date of certain stock options

Copper Fox announces extension of expiry date of certain stock options 
VANCOUVER, Jan. 16, 2013 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the 
"Company") (TSX-Venture: CUU) announces that the Board of Directors of the 
Company has authorized, subject to TSX Venture Exchange approval, an amendment 
to 1,000,000 incentive stock options (the "Options") granted to officers of 
the Company to extend the expiry date of the Options to January 11, 2014. 
The Options were subject to a Trading Blackout imposed by the Company for a 
significant period of time pending the preparation and completion of the 
Company's Positive Feasibility Study of the Shaft Creek deposit, and were set 
to expire in accordance with the terms of the Company's stock option plan 
following the release of the results of the Company's Positive Feasibility 
Study. As a result, the Board of Directors of the Company has determined it 
advisable to extend the expiry date of the Options to January 11, 2014. All 
other terms of the Options, including the exercise price, remain the same. 
Pursuant to the policies of the TSX Venture Exchange, the amendment to the 
term of the Options must be approved by disinterested shareholders of the 
Company at the next annual general meeting of the Company. The Options may 
not be exercised until disinterested shareholder approval is obtained. 
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, AB and an 
operations office in Vancouver, BC. Its major asset is the Schaft Creek 
copper, gold, molybdenum and silver deposit located in northwestern British 
Columbia, Canada for which a positive Feasibility Study was recently completed. 
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 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 
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 earns 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 Project 
is triggered upon delivery of a "Positive Bankable Feasibility Study" (as 
defined) to Teck after which they have 120 days to make a decision. 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 use its best efforts to 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 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. 
Additionally the Company holds, through its wholly-owned subsidiaries, mineral 
tenures located in Pinal County, Arizona (the 'Sombrero Butte Copper Project') 
and in Miami, Arizona (the 'Van Dyke BLM Claims'). The Sombrero Butte copper 
project consists of 2,887 acres located in the Bunker Hill Mining District, 44 
miles northeast of Tucson and the 35 Van Dyke BLM Claims located to the west 
of the Van Dyke copper deposit in Miami. 
On behalf of the Board of Directors 
Elmer B. Stewart
President & 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 the amendment of expiry date of the Options; approval for the 
amendment of the expiry date of the Options from the TSX Venture Exchange and 
disinterested shareholders of the Company at the next annual general meeting 
of shareholders; timing and amounts of future expenditures and "earn-back" 
options; geological interpretations and potential mineral recovery processes. 
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. 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: approval of the amendment to the expiry date of 
the Options may not be obtained from the TSX Venture Exchange or disinterested 
shareholders of the Company on a timely basis, or at all; 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; 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; uncertainties relating to 
interpretation of drill results and the geology, continuity and grade of 
mineral deposits; 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 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. 
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
NI: MNG FIN  
-0- Jan/16/2013 23:30 GMT