Copper Fox Metals Inc.

If the report is positive under §5.5(b)(ii) but not under §5.5(b)(i), Teck Cominco may nevertheless elect, in its sole discretion, to deem the report to be a Positive Bankable Feasibility Study. If Teck Cominco does not give any notice as aforesaid, then any report that satisfies §5.5(b)(iiv will be deemed a Bankable feasible study.

Thank you Chunky. This clause is where we fall under because we are only positive under 5.5(b)(ii) with a NPV 8% positive. Therefore Teck has the right to decide within 30 days whether to accept this feasibility as bankable.

We don't really know when those 30 days began but we might assume when the feasibility was given to Teck. I would have thought that was within the past 45 day period, but maybe they are counting from when it was published? See it's another one of these traps that we are constantly falling into because we don't have a lot of clarity.