Copper Fox Metals Inc.

I think some people are deliberately trying to alarm people over the possibility of further dilution. That's why the talk about Ernesto "supporting" the stock. I've noticed when I pointed out two reasonable alternatives there was no response. So I'm going to repeat it and see if anyone has a reasonable argument, or do they just want to be alarmist.

We have two options going forward should we need to raise funds and avoid dilution:

1. We have a very large tax refund coming to us this year. It could be up to $12 million. After that happens we'll have a better idea of how much money there is available. This could show up in the soon to be released financials.

2. They will spinoff Northern Fox and Desert Fox and raise funds under those corporate entities and leave Schaft Creek alone with CUU at 413 million shares until Teck makes a decision.