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18 July 2013

Hector MacKay-Dunn, represents Copper Fox Metals in Schaft Creek Joint Venture with Teck Resources

On July 15, 2013, Copper Fox Metals Inc. (“Copper Fox”) and Teck Resources Limited (“Teck”) formed a joint venture (25% / 75%) to further explore and develop the Schaft Creek Mineral Deposit, located in northwestern British Columbia, Canada, one of the largest undeveloped copper porphyry polymetallic deposit in North America.

Teck is to pay $60 million in three equal direct cash payments to Copper Fox, $4million to reimburse Copper Fox claim acquisition and project related expenditures, up to an additional $60 million of pre-production expenditures;  Teck will fund any additional costs incurred before a production decision. Teck is also committed to use all reasonable commercial efforts to arrange project equity and debt financing of the capital costs of constructing the mine facility, and will loan Copper Fox, if requested, Copper Fox’s pro rata share of the mine facility capital costs, and any pre production expenditures in excess of $60 million.

Copper Fox was represented by Farris, Vaughan, Wills & Murphy LLP, with a team led by Hector MacKay-Dunn, Q.C. that included Denise Nawata, Ron Chin and Peter Roth (corporate) and Sandy Sheinin (tax). Teck was represented in-house by Anthony A. Zoobkoff, Assistant Secretary, Senior Counsel and Nick Uzelac, Corporate Counsel.

For more information, please click on the link to the Copper Fox news release.

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