1.20Feasibility Study

In early 2010, Copper Fox retained Wardrop, the main contractor for the feasibility study, and Knight Piésold Ltd. and Stantec Consulting Ltd., to complete the feasibility study on the Schaft Creek deposit. The feasibility study will include an updated geological model, Mineral Resource estimate, Mineral Reserve estimate, revised capital cost and operating costs estimates and other technical, socio-economic and financial aspects related to the feasibility study. The study is planned to be completed by the end of 2011.

imo...The "Feasibility Study" = the BFS. the "updated" items are "new" to the FS process since PFS in 2008. I think any new drills would be need to be put thru a RE2 estimate process before a BFS2.

The BXX discussion should move over to the BXX board. I will say that I have heard - and quite agree - that Elmer is quite sparing ind the drilling department in respect to both CUU and BXX. We could have started with 4 drills (in my perfect world) but we started with one in 2011. We had a 8000 m programme when other juniors had much larger programmes. We have a deal that compensates our exploration costs (TCK Agreement); at worst case, we only recover 100% of the expense.

2012 drilling season at Schaft Creek should start again in early May (4 months or so). With all of the Aerial Mags + Geophysical +2011 drilling Schaft Creek (CUU or whoever) should have a good basis for a big drill plan this year.

If BFS drops this week...120 business days will be the first week of June 2012