Fox Resources Ltd.
TSX VENTURE : FAX

November 25, 2009 17:12 ET

Fox Resources Ltd. Updates Otter Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2009) - Fox Resources Ltd. (TSX VENTURE:FAX) has completed a follow up soil geochemistry, prospecting and rock sampling program on its Otter Project in southern British Columbia. Assay results from the follow up program are pending.

The initial exploration program of soil geochemistry was completed in the fall of 2008. Exploration focused on two areas, Grid B and Grid E, following up on the Tanqueray Resources Ltd. 2006 exploration results on the Otter property. The Fox Resources 2008 program consisted of soil sampling over two grids: Grid B and Grid E.

A total of 1,823 soil samples were collected during the 2008 program: 552 from Grid B and 1271 on Grid E. All samples were submitted to Eco Tech Laboratory Lt.d. of Kamloops, British Columbia an ISO 9001 certified facility. QA/QC protocols of standards, duplicates and blanks were inserted into the sample stream. The sampling was completed under the supervision of R. Tim Henneberry, P.Geo.

Grid B

Grid B consisted of an 800 metre north-south base line with cross lines at 50 metre intervals along the base line. East-west cross lines were 800 metres long with a sample spacing of 25 metres. The grid was established over an area where preliminary soil geochemistry in 2006 located an general area of elevated gold values. Later prospecting in 2006 located epithermal quartz felsenmeer that returned gold values of 135 ppb Au and 275 ppb Au.

Two distinct linear anomalies were located. Multi-element Anomaly A is 850 metres long and ranges in width from 50 to 100 metres. It trends through the southwest corner of the grid, is currently open at both ends as appears to continue off the grid in both a northwest and southeast direction. This anomaly is reflected in the Au-in-soil, Ag-in-soil, Hg-in-soil, Mo-in-soil, Sb-in-soil and Se-in-soil.

Multi-element Anomaly B lies in the northeastern section of the grid. It appears to decrease in intensity in both directions with the key section 450 metres long by 100 to 150 metres wide. This anomaly is reflected in the Au-in-soil, Ag-in-soil and Hg-in-soil.

Maximum soil values from the Grid B sampling are: 0.6 ppm Ag, 30 ppb Au, 120 ppb Hg, 2.1 ppm Mo, 0.8 ppm Sb and 5 ppm Se.

Grid E

Grid E consisted of a 1500 metre north-south base line with cross lines at 50 metre intervals along the base line. East-west cross lines were 1000 metres long with a sample spacings of 25 metres. The grid was established over an area where preliminary soil geochemistry in 2006 located a general area of elevated gold values along a suspected regional lineament.

A strong, pronounced 1600 metre long by 100 to 200 metre wide, linear multi-element anomaly trending through the entire grid has been located. This anomaly is reflected in the Au-in-soil, Ag-in-soil, Hg-in-soil, Mo-in-soil, Sb-in-soil and Se-in-soil. Maximum soil values are: 4.6 ppm Ag, 73 ppb Au, 600 ppb Hg, 15.5 ppm Mo, 5 ppm Sb and 19.4 ppm Se.

The silver, mercury and molybdenum and to a lesser extent gold, antimony and selenium suggest that either the main anomaly is bending to a more north south strike or the anomaly splits with one leg continuing in a north northwest direction and the other leg trending to the north.

There is also a multi-element cluster anomaly (Cluster B) located in the south-central portion of the grid. This multi-line anomaly is approximately 150 metres by 150 metres in size and is highlighted by all 6 elements, though the gold is not as strong as the other 5 elements.

Fox Resources Ltd. completed a follow-up program in September 2009. The two grids were prospected and additional lines were added to the north and south of both grids. The assay results are pending. Upon receipt of the results, the management will review the merit of the project.

Jacques Houle, P.Eng., has reviewed the contents of this news release. Mr. Houle is independent of Fox Resources Ltd, and is a qualified person pursuant to National Instrument 43-101.

On behalf of the Board,

Mark T. Brown, CA, Director, President

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to drilling plans, timing of our planned NI 43-101 resource report, timing of assays, resource estimates, projections, our planned exploration and drilling programs, the availability of future financing for exploration and other plans, projections, estimates and expectations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Fox Resources Ltd.
    Mark T. Brown
    President
    (604) 687-3520
    (604) 688-3392 (FAX)