Copper Fox Metals Inc.

Looking at the financial statements for 2011, 2010, and 2009, the Admin expenses each year was less than $1 million and most of that would be salaries. That does not seem excessive.

In 2009 and 2010, the stock based compensation, again was around $100 K total, hardly excessive. 2011 is the only year that the stock based compensation went up to $1.8 million; reflecting the increase in market value of the company. Based on the above info, I do not think their compensation is unreasonable high.

The stock based compensation number of 2011 is a calculated number based on the stock price trend and probability and not necessarily how much the executives actually received. Whether or not they actually benefit from the "stock based compensation" depends on whether or not the sp exceeds the exercise price and by how much.

So let's not jump to conclusion! JMO