Copper Fox Metals Inc.

I'm assuming this letter went out to all the companies who have mine projects under review. Prospekt posted this letter last week. While this isn't negative, I don't think it reveals anything we didn't already know; that Teck has taken over Schaft operation and are the point of contact, and that they are at the Pre-Application stage of the Environmental Assessment. They are in this postion along with 5 other mines I seem to recall.

This is the BC Environmental Assessment Office's way of implementing the changes recommended by their expert review panel following the Mount Polley incident. It looks like they will be adopting all of the recommendations of the panel into regulation. Changing regulations takes time. In the interim, those applications in the works get letters like this to inform them that the rules are changing and here is what you need to now do, prior to the new regs being formalized into law.

Not trying to be a wet blanket, I work in this field and this is my read of the letter and process.

K