TMX group

CALGARY, May 8 /CNW/ - Guillermo Salazar S, President and CEO of Copper
Fox Metals Inc. (TSX-V: CUU) is pleased to announce that subject to the
approval of the TSX-Venture Exchange, Copper Fox intends to offer a non
brokered private placement of a maximum (Can.) $4,000,000 in flow-through and
non flow-through funds.
The flow-through component of this offering will be in the form of up to
4,000,000 common shares at a price of $0.60 per share (up to 60% of the total
offering). The unit component will consist of up to 7,272,727 units at a price
of $0.55 per unit. Each unit shall consist of one non-flow through common
share and one-half of a non flow-through common share purchase warrant. Each
full Warrant will entitle the Purchaser to purchase one Warrant Share at a
price of $0.90 per Warrant Share, exercisable at any time until the close of
business on the date following the expiry of 12 months from the Closing Date
provided that, if at any time following the expiration of four months from the
Closing Date, the closing price of the Issuer's common shares on the Exchange
is equal to or greater than $1.00 per share for 15 consecutive trading days,
the Issuer may give notice to the Purchaser in writing that the expiry date of
the Warrants is being shortened to 30 days from the date of such notice.
Funds generated by this financing will be used by the company for bulk
sampling, baseline studies, drilling programs, road access, engineering, and
general operating purposes associated with the development of a large
copper/gold porphyry project located in north-western British Columbia at
Schaft Creek which it holds under option from Teck Cominco Limited.
Copper Fox is a Tier 2 Junior Natural Resource Mining Company listed on
the TSX-Venture exchange trading under the symbol (CUU).

The TSX Venture exchange has not reviewed the contents of this news
release and accepts no responsibility for the accuracy thereof. This news
release may contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming events, work programs,
receipt of geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward looking statements address future
events and conditions and therefore, involve inherent risks and uncertainties.
Actual results may differ materially from those anticipated in such
statements.

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