Copper Fox Metals Inc.

Law is like the 3 blind men feeling the elephant except the are politicians not wise men. We are agreeing with Teck over the meaning of the clauses right now. Without agreement they could fight over meanings. We are in this to cooperate. So is Teck. So no clause is absolute in a framework that spans 1/2 a century.

I've brought up Mess Creek a number of times. It is the way in and it may have minerals under it. It is part of the Area of Inclusion. We must get a fair price for it. What is it worth? Because it's the road in its cost effects the BFS. If we retain it Teck has to pay for access. If they own it a portion of the cost goes into the BFS. They must finalize this to move on. And so, there are lots of little details like this to hash out. Better to have it in stone tomorrow that on paper today.