Copper Fox Metals Inc.

Teck very easily could have simply said to CUU, "We will stipulate that the expenses for the hauling out the waste rock representing the inferred do not exist and further stipulate that we will assume x% CU equivalent for the inferred in future negotiations". In fact, once the BFS is done, adjusting it for negotiation purposes is a matter of less than an hour's work plus checking. Not saying they did make such a representation, but they very easily could have.