Copper Fox Metals Inc.

I still don't think the mine plan is complete. Back in the March news release, we were told the mine plan is 6-8 weeks behind schedule. This means it should have been completed around the end of May given a worst case scenario. However, Elmer did seem to dodge the question a bit by simply saying the feasibility is on schedule.

As more proof, the RE was just completed so I don't think the mine plan has been completed yet. It does not sound like Copper Fox had even seen the final report.

As a final item, Elmer said "Now this 0.15 base case will be used by Tetra Tech, they will use that in completing a mine plan, they will put that inside of a grade shell and then from that they will determine reserves". It does not sound complete to me.

I'm not trying to sound any alarms about a delay. I think everything is still on time. I just think that no mine plan = no economic numbers = no buyout ... for the short term anyways.