Copper Fox Metals Inc.

Dear Fellow Investors:

I am really liking the Copper Fox Home Page and how the Teck back-in is clearly spelt out.

In looking at this, it occurred to me that if Teck must spend $300,000,000 to earn back 75% that works out to .77 cents per share alone.

Given today's share price is $1.41, that leaves only .64 per share for the entire Schaft Mining District.

When you look at the math this way, we are H U G E L Y undervalued.

Anyways, this was a little back-of-the-napkin calculation, I would welcome any comments in this regard.

Gold luck to all.