Calgary, Alberta–(Newsfile Corp. – February 7, 2024) – Copper Fox Metals Inc. (TSXV: CUU) (OTCQX: CPFXF) (“Copper Fox” or the “Company”) is pleased to announce that its audited annual consolidated October 31, 2023, financial statements have been filed on SEDAR+.
All subsidiaries of the Company are wholly owned.
For the year ended October 31, 2023, Cop recorded a loss of $1,114,512 (October 31, 2023 – $1,290,966), which equates to a loss of $0. 00 consistent with consistent percentage (October 31, 2022 – $0. 00 consistent with consistent percentage).
During the year ended October 31, 2023, the Company incurred expenses of $915,190 to continue the advancement of its Schaft Creek and Van copper projects, as well as the exploration of its Eaglehead, Sombrero Butte and Mineral Mountain copper projects. Copies of similar monetary statements, notes, and MDs
“As we move into 2024, the effects of the 2023 Schaft Creek program are being processed and we await the delivery of those effects as notification of Teck Resource Limited’s (“Teck”) 2024 program and budget, which is expected to be received. In, ongoing rehabilitation and geotechnical paintings are progressing and are expected to be completed by April, when the next phase of operations would be planned. The Company is in the process of obtaining a permit to conduct an initial drilling program at Mineral Mountain and an extension of the existing Mining Act permit to conduct an “infill” drilling program at Eaglehead.
Fourth Quarter 2023 Highlights
After the End
Elmer B. Stewart, MSc, P.Geo, President of Copper Fox, is the Company’s non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
Liquidity
As at October 31, 2022, the Company’s cash position was $1,368,852 (October 31, 2022- $132,192) and as of the date of this News Release the Company’s cash position is $912,900.
About Copper Fox
For information, contact Lynn Ball at 1-844-464-2820, investisseurs@copperfoxmetals. com
On behalf of the Board of Directors,
Elmer B. StewartPresident & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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, as well as forward-looking statements within the meaning of Canadian securities legislation (collectively, “forward-looking information”). Dissatisfaction with the future can sometimes be identified by the use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “budgets”, “could”, “estimates”, “hopes”, “forecasts”, “projects” and similar expressions, as well as the negative form of those expressions. Forward-looking information in this press release includes statements about: Eaglehead MRE is expanding its copper inventories and the prospect of a long-term copper supplier; the finishing touch to a comprehensive metallurgical program at Schaft Creek; alleviate operational problems at Van; obtain a permit for an initial drilling program at Mineral Mountain; grant a larger permit for the “infill” drilling program at Eaglehead; and the hyperspectral study at Sombrero Butte identifying several areas of alteration.
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 standard industry practices. and methodologies; and sound economic and market conditions. Although Copper Fox believes that these assumptions are reasonable, they are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Copper Fox’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: the metallurgical testwork on the Schaft Creek project may not be completed as planned or at all; drillhole rehabilitation and geotechnical work at Van Dyke may not be completed as planned or at all; the maiden drilling program at Mineral Mountain may not be completed as planned or at all; the ‘infill’ drilling program at Eaglehead may not be completed as planned or at all; the ground checking of the Sombrero Butte anomalies may not be completed as planned or at all; the overall economy may deteriorate; uncertainty as to the availability and terms of future financing; copper prices and demand may fluctuate; currency exchange rates may fluctuate; conditions in the financial markets may deteriorate; and uncertainty as to timely availability of permits and other governmental approvals.
A fuller discussion of the dangers and uncertainties facing Copper Fox is revealed in Copper Fox’s ongoing disclosure filings with the Canadian securities regulatory government in www. sedarplus. ca. All forward-looking data contained herein is qualified in its entirety through this cautionary statement, and Copper Fox disclaims any legal responsibility to revise or update such forward-looking data or to publicly announce the outcome of any revision of any forward-looking data contained herein to reflect results, long-term occasions or developments, as required by law. .
To view the source edition of this press release, https://www. newsfilecorp. com/release/197198