Copper Fox Metals Inc.

Teck has sold off the bulk of the claims that they staked last year to the Galore Creek Mining Co. This is the company that is owned 50% by Teck, and 50% by NovaGold. They initiated the sale last week.

There are some 20 claims remaining that they have not sold or renewed. These are generally in the north of the area they staked last year. They have until April 2nd to renew those claims.

More importantly, they renewed the claims that fall within 2 km of the original Schaft Creek claims. The Agreement states that both parties are obliged to offer claims within the 2 km range for inclusion in this Agreement so Teck has clearly kept those claims that comply with this clause. I am encouraged to see them acknowledge the Agreement in this way at least.