Copper Fox Metals Inc.

Vancouver, British Columbia -- January 16, 2013 -- Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSX-Venture: CUU) announces that the Board of Directors of the Company has authorized, subject to TSX Venture Exchange approval, an amendment to 1,000,000 incentive stock options (the "Options") granted to officers of the Company to extend the expiry date of the Options to January 11, 2014. The Options were subject to a Trading Blackout imposed by the Company for a significant period of time pending the preparation and completion of the Company's Positive Feasibility Study of the Shaft Creek deposit, and were set to expire in accordance with the terms of the Company's stock option plan following the release of the results of the Company's Positive Feasibility Study. As a result, the Board of Directors of the Company has determined it advisable to extend the expiry date of the Options to January 11, 2014. All other terms of the Options, including the exercise price, remain the same.