CALGARY, Feb. 1 /CNW/ - Guillermo Salazar S, President and CEO of Copper Fox Metals Inc. (Copper Fox) (TSX-V: CUU) is pleased to announce that on December 30, 2005 the Company closed a non-brokered private placement of its Issuer Offering for an aggregate of 516,667 flow-through common shares of Copper Fox ("FT Shares") at a price of $0.30 per FT Share, for aggregate proceeds of $155,000. As announced by Copper Fox in its news release of December 19, 2005, this financing is concurrent to a maximum $3,500,000 financing of flow-through shares and non flow-through units which is in progress and was disseminated in its news release on December 9 2005. The FT Shares were issued to qualified purchasers in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation and are subject to a restricted period of April 30, 2006. In connection with the private placement, Copper Fox paid an aggregate of $9,200 cash (representing 5.9% of the proceeds) and issued non-transferable share purchase warrants (warrants) to acquire an aggregate of 38,333 common shares of Copper Fox representing 10% of the FT Shares sold to purchasers by the finder, Bolder Investment Partners Ltd. The warrants are exercisable at a price of $0.30 per common share within two years of issuance and were issued in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation. The warrants and common shares issued upon exercise thereof are subject to a restricted period that expires on April 30, 2006. The proceeds from this private placement will be used by Copper Fox for furthering the development of its copper/gold porphyry project at Schaft Creek, British Columbia. On behalf of the Board of Directors Guillermo Salazar S President & CEO The TSX Venture exchange has not reviewed the contents of this news release and accepts no responsibility for the adequacy thereof.