Copper Fox Metals Inc.

"We simply reached the max Teck will pay and so it's time to move on...."

I dont' agree that this is simply a Teck related decision to not further delineate the zones at SC deposit. I think SC has reached a size that any minor would deem significant. Drilling out the final configuration of Paramount/Liard could go on for years adding and adding.

Drilling to the north and east involve targeting ore bodies that are more deeply burried (NPV...) under Mt La Casse than what we already have.

We could drill all year and add another 20% more pounds like we did with 2011 drilling and the 2012 RE. Why add 20% more to an already massive deposit with clear heft when we could use that drilling effort to find and demonstrate another mineralized zone of the same potential? Add 20% or add ~100%. That seems to be a simple choice to me. TCK or any minor would be more keenly interested in a new zone or two than adding a 5 more years of mine life to a 30 year project.

jmho.