TMX group

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.