Copper Fox Metals Inc.

It will take a while to compile everything we gave up against everything we gained. We now have a solid, experienced partner who will hold our hand to production. But we gave up the 4X's interest and lumped all of the BC property into the deal.

Lumping all of the BC property might be a good thing. CUU and Teck can work together on exploring the District and the SC mine itself. I think a lot of those non-sched A lands (old agreement) will be quite critical to the full development to what we have under Feasibility Study now. Lumping our property with the Sched A lands may mean we see the value from the northern zones discovered earlier. Too bad that the 2013 drilling programme is only going after the Paramount extention (and the 171 Mt inferred waste?) and not dipping into the other unexplored zones.

Teck has a 60 day first rights of refusal on our 25% stake should we find buyers.