(TSX-V: COF.P) CALGARY, May 20 /CNW/ - Copper Fox Metals Inc. (the "Corporation") is filing on SEDAR today the following financial statements on behalf of 955528 Alberta Ltd. ("955528") to address deficiencies in the Corporation's Management Information Circular dated March 29, 2005 (the "Circular"), which was filed on SEDAR on April 29, 2005: 1. 955528 audited financial statements for the year ended October 31, 2004 dated February 17, 2005 (except for note 10, which is as of March 23, 2005) (the "Annual Financials"); and 2. 955528 interim financial statements for the five month period ended March 31, 2005 (the "Interim Financials"). The Circular was prepared in connection with the Corporation's upcoming annual meeting scheduled for May 25, 2005 where shareholders will consider the amalgamation of the Corporation with 955528 as the Corporation's Qualifying Transaction. The TSX Venture Exchange (the "Exchange") has provided the Corporation conditional acceptance of its proposed Qualifying Transaction with 955528, however, the Exchange has not received all of the required documentation in order to clear the Circular for mailing to the Corporation's shareholders. The financial disclosure included in the Circular regarding the 955528 year ended October 31, 2004 was an earlier version dated February 17, 2005 and did not contain Note 10 that was added as of March 23, 2005. The Corporation has reviewed both the financial disclosure in the Circular and the Annual Financials and advises that the only difference between the financial disclosure in the Circular pertaining to the 955528 year ended October 31, 2004 and the Annual Financials is the addition of note 10, which provides disclosure of the related party transaction whereby 955528 is considering amalgamation with the Corporation. The remaining financial information is identical in the two documents. The Interim Financials are being provided here to address concerns that the financial statements included for the 955528 year ended October 31, 2004 may be deemed insufficient based on the mailing date of the Circular and more current financial disclosure is required. The Corporation can advise that the Interim Financials do not represent any material differences in 955528's activities since October 31, 2004. The Exchange does not accept responsibility for the adequacy or accuracy of this release.