We present a physicochemical model for the formation of magnetite-chlorite-carbonate rocks with copper gold in the Karabash ultramafic massif in the Southern Urals, Russia. The model was constructed based on the formation geotectonics of the Karabash massif, features of spatial distribution of metasomatically altered rocks in their central part, geochemical characteristics and mineral composition of altered ultramafic rocks, data on the pressure and temperature conditions of formation, and composition of the ore-forming fluids. Magnetite-chlorite-carbonate rocks were formed by the hydrothermal filling of the free space, whereas chloritolites were formed by the metasomatism of the serpentinites. As the source of the petrogenic and ore components, we considered rocks (serpentinites, gabbro, and limestones), deep magmatogenic fluids, probably mixed with metamorphogenic fluids released during dehydration and deserpentinization of rocks in the lower crust, and meteoric waters. The model supports the involvement of sodium chloride-carbon dioxide fluids extracting ore components (Au, Ag, and Cu) from deep-seated rocks and characterized by the ratio of ore elements corresponding to Clarke values in ultramafic rocks. The model calculations show that copper gold can also be deposited during serpentinization of deep-seated olivine-rich rocks and ore fluids raised by the tectonic flow to a higher hypsometric level. The results of our research allow predicting copper gold-rich ore occurrences in ultramafic massifs.