Copper Fox Metals Inc.

What worries me a bit is that the feasibility study is a time sensitive document. The longer they spend reviewing the data, the more out of date the data becomes. If Teck takes the whole project, it's no loss to us. If not, delaying much longer may not be in Copper Fox's best interest. Releasing a feasibility study that is months old would not impress many shareholders.

March 2012 - "Fortunately the other components of the feasibility study outside the Mine Plan are well advanced."

Sept 2012 - "The majority of the sections of the feasibility study have been drafted and reviewed."

Sept 2012 - "Moose Mountain Technical Services has completed the "Mine Plan" for the Schaft Creek project. The optimized plan will be used to complete the economic analyses and project sensitivity. All other aspects of the Feasibility Study are complete."