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Calgary, Alberta–(Newsfile Corp. – February 28, 2022) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (“Copper Fox” or the “Company”) announces that its Audited Annual Report Consolidated Financial Statements as of October 31, 2021 have been filed with SEDAR.
All subsidiaries of the Company are one hundred percent owned. As of October 31, 2021, the Company owned 23. 87% of the notable and non-unusual shares of District Copper Corp.
For the year ended October 31, 2021, Copconsistent with Fox recorded a loss of $861,228 (October 31, 2020 – $537,453), which equates to a loss of $0. 00 consistent with the consistent percentage (October 31, 2020 – $0. 00 loss consistent with the consistent percentage).
During the year ended October 31, 2021, the Company incurred expenses of $1,860,147 to continue the progression of its Schaft Creek and Van copper projects, as well as the exploration of its Sombrero Butte, Mineral Mountain and Eaglehead copper projects. Copies of financial statements, Notes and similar discussions and investigations may be received from management at SEDAR at www. sedar. com, on the Company’s online page at www. copperfoxmetals. com or by contacting the Company directly. All references to planned activities and technical data contained in this press release have been previously announced through press releases. All amounts are expressed in Canadian dollars, unless otherwise stated.
Elmer B. Stewart, President and Chief Executive Officer of Copper Fox, said: Activities and after the quarter included the final touch of schaft Creek’s Preliminary Economic Assessment (PEA), which resulted in really extensive construction in the after-tax assessment. of the allocation (based on 100%) and investigating the needs to access the approval procedure of Project Van. The 2021 box program at Eaglehead has particularly increased potential, increasing the porphyry footprint and generating high-priority targets for drilling in 2022. The first phase of the 2022 systems in our Arizona-based exploration assignments is expected to begin in late March. “
Highlights for the fourth quarter of 2021:
the Corporation retained Montgomery
the company moved from the pink otc market to the more productive OTCQX market and continued in the industry under the symbol CPFXF. The company has also hired Stonegate Capital Partners Inc. to provide investor relations for a period of six months.
to the Company an update of activities prior to the Company’s Annual General Meeting on September 16, 2021, adding the Schaft Creek drilling program for 2021, knowledge well research and conceptual hydrogeological style for Project Van and PP prospecting at Project Eaglehead.
the Corporation’s effects of the Schaft Creek Project PEA (see Property Summary in this Management Discussion and Analysis).
The Corporation updated on its Van ICRH assignment prior to discussions with the EPA and ADEQ.
the Company has provided an update on Schaft Creek’s 2021 metallurgical drilling program with the number one goal of collecting geometallurgical samples for further metallurgical testing.
Elmer B. Stewart, MSc. P. Geol. , President of Copper Fox, is the company’s non-independent qualified person, designated pursuant to National Instrument 43-101, Disclosure Standards for Mining Projects, and has reviewed and approved the clinical and technical studies disclosed in this press release.
Selected monetary results
October 31, 2021
July 31, 2021
April 30, 2021
January 31, 2021
3 months completed
3 months completed
3 months completed
3 months completed
loss tax
PS
367 608
PS
205 040
PS
343 256
PS
199 324
(Profit)/net loss
113 608
205 040
343 256
199 324
(profit)/total loss
133 849
32 777
842 711
791 658
(Gain)/total loss consistent with participation, fundamental and diluted
0,00
0,00
0,00
0,00
October 31, 2020
July 31, 2020
April 30, 2020
January 31, 2020
3 months completed
3 months completed
3 months completed
3 months completed
loss tax
PS
298 567
PS
248 589
PS
375 725
PS
205 572
Net loss
(292 433
)
248 589
375 725
205 572
Overall loss
(453 015
)
940 165
(283 957
)
139 438
Total loss consistent with the stock, fundamental and diluted
0,00
0,00
(0. 00
)
0,00
Liquidity
As of October 31, 2021, the Company’s money position $2,646,608 (October 31, 2020 – $491,933) and as of the date of this press release, the Company’s money position is $2,047,653.
About Copper Fox
Copper Fox is a Canadian Tier 1 resource company engaged in the exploration and progression of copper in Canada and the United States. The main assets of Copper Fox and its wholly owned subsidiaries in Canada and the United States, Northern Fox Copper Inc. and Desert Fox Copper Inc. , have a 25% interest in Schaft Creek’s joint venture with Teck Resources Limited in the Schaft Creek copper deposit. Allocation of gold, molybdenum and silver located in northwestern British Columbia and owned one hundred percent through the Van Copper Oxide Project located in Miami, Arizona. To learn more about Copper Fox’s other mining properties and investments, visit the company’s online page in http://www. copperfoxmetals. com.
For information, contact Lynn Ball at 1-844-464-2820 or 1-403-264-2820.
On behalf of the Board of Directors,
Elmer B. StewartPresident and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulatory Service Provider (as that term is in TSX Venture Exchange’s policies) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release comprises forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and forward-looking data within the meaning of Canadian securities law (collectively, -recovery data”). Prospective data is identified by the use of the words “believes”, “may”, “anticipates”, “will”, “anticipates”, “intends”, “budgeted”, “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, as well as the negative part of such expressions. evaluation, research into the needs to enter the approval procedure at Van, significant improvement in drilling potential, footprint and targets at Eaglehead, and the launch of the 2022 Arizona Exploration Projects programs.
In connection with the forward-looking data contained in this press release, Copper Fox and its subsidiaries have made assumptions regarding, among other things: the geological, monetary, and economic recommendation that Copper Fox earned is reliable and based on industry-standard practices and methodologies; and strong economic and market conditions. Although Copper Fox believes those assumptions to be reasonable, those assumptions are inherently subject to significant uncertainties and contingencies.
In addition, there are known and unknown threat points that may also cause copper Fox’s actual effects, functionality, or achievements to differ materially from the long-term effects, functionality, or achievements expressed or implied through the forward-looking data contained herein. Known threat points include, but are not limited to: the Company would possibly not qualify for a Class III drilling license for Van Dyke; the effects of the metallurgical drilling program at Schaft Creek may not produce the expected effects; the systems proposed for 2022 at the Mineral Mountain and Sombrero Butte projects would possibly not be completed by 2022 or not completed at all; the global economy may deteriorate; uncertainty about the availability and modalities of long-term financing; copper prices and demand would possibly fluctuate; exchange rates would possibly fluctuate; money market situations are likely to deteriorate; and uncertainty about the timely availability of entry permits and other government approvals.
A fuller discussion of the dangers and uncertainties facing Copper Fox is set out in Copper Fox’s ongoing disclosure documents filed with Canadian securities regulators in www. sedar. com. All forward-looking data contained herein is qualified in its entirety through this notice and Copper Fox disclaims any legal responsibility to review or update such forward-looking data or to publicly announce the effects of any revision of any of the forward-looking data contained herein to reflect long-term effects, occasions or developments, unless required by law.
To view the original edition of this press release, visit https://www. newsfilecorp. com/release/114952