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December 22, 2006
Copper Fox Metals announces the closing of a Private Placement Financing of $3135282

Calgary, December 22, 2006 Copper Fox Metals Inc. ("Copper Fox" or the "Company") is pleased to announce that further to its news release of November 23, 2006 the Company completed a brokered flow-through private placement financing on December 20, 2006. The Offering raised an aggregate $3,135,282 CDN funds representing an over allotment increase of $10,282 from the originally announced Offering. The Offering consisted of 4,823,512 "flow-through" common shares at a price of $0.65 per share (the "issue price"). Evergreen Capital Partners Inc. ("Evergreen") acted as exclusive lead agent for this private placement that included the MineralFields Group. A total of $255,555.35 was paid in fees and commissions to the Agent and Finders. The company also issued Agents Options entitling the agents to purchase 261,831 common shares at a price of $0.65 per share for a period of 18 months from the date of closing.

Funds generated by this financing will be used for metallurgical testing, engineering studies, road access, and general operating purposes associated with the ongoing development of the Company's world class copper/gold porphyry project located at Schaft Creek, British Columbia, Canada.

About Copper Fox
Copper Fox is a Canadian based Junior Natural Resource mining company listed on the TSX-Venture exchange trading under the symbol (CUU). The Company is focused on the acquisition of advanced exploration and or near production precious and base metal deposits. The Company holds an option agreement with Teck Cominco Limited to acquire up to a 93.4% direct and indirect (carried) interest in the Schaft Creek copper-gold-molybdenum property in northwest British Columbia, Canada.

For further information please contact Jason Shepherd, Investor Relations toll free at 1-866-913-1910, Email investor@copperfoxmetals.com or contact Guillermo Salazar at 403 264 2820. Please visit the Copper Fox web site at http://www.copperfoxmetals.com

On behalf of the Board of Directors

Guillermo Salazar S
President & CEO

The TSX Venture Exchange has not reviewed the contents of this news release and accepts no responsibility for the adequacy or the accuracy thereof.

This news release may contain forward - looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward - looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

  





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