Copper Fox Metals Inc.

We have gone over the BFS numerous times.

The only thing that is required of the BFS, to trigger action on the part of Teck, is that it shows that the proposed Schaft Mine can produce at least a single dollar of profit.

That's it.

That is the extent of the weight that must be attributed to the BFS, by contract.

It will not be the basis of negotiations between Teck and Ernesto because everybody knows that the BFS will only show a fraction of the already defined mineralization, and Ernesto will not be giving away what he knows he owns.

Teck knows what has been found and what the potential is also, and that it will not be included in the study that by, definition, only needs to show a breakeven proposition.

The BFS starts Tecks clock. Nothing more.