Just re-reading the July 2011 Resource Estimate (while waiting for the Superbowl festivities to begin). Wondering how hard it will be to do the revised RE - Mike Smith said at the Van resource show that if Copper Fox had waited to update the RE with silver and new drills holes, and then do the BFS after, we could have waited for the BFS until 3rd or 4th quarter 2012. So that course of action never crossed the mind of management.

Maybe the issue there was the silver, but I can't imagine a revised RE taking that long based on including the new drills holes from 2011 - won't we only have from 407-425 (19 total) for new holes to include? Maybe a few of the cores will need to be retested for accuracy (March-April?) but one would assume all the other numbers are punched into a nice computer model that can quickly be updated.

One of my questions/hunches is that even though we didn't drill many holes (some were very deep) we have likely increased our resources a good deal, especially the Measured. I've copied a few sections from the July 2011 Updated RE below: one outlining how many holes were used before (and m of core) and the other outlining how measured and indicated are measured.

In my mind, I can't imagine that CUU would be that far away from a revised RE in 2012, notwithstanding our sllowww track record. Wouldn't it be retesting a few core samples from 2011 and plugging in some new numbers? Anyone with experience in this area please advise.

Can't wait for the BFS but also can't wait for the revised RE because we MUST have more than 320 m lbs of copper in the Measured category. Lol, I think I'm emotionally invested in CUU now (bad, I know) and want to see better grades and bigger size proved up alongside a fat buyout.

See RE overview: http://www.copperfoxmetals.com/s/SchaftCreek.asp?ReportID=209011

FULL FILE: http://www.copperfoxmetals.com/i/pdf/163579_Final.pdf

14.0MINERAL RESOURCE ESTIMATES

14.1Key Assumptions/Basis of Estimate

The 2011 AMEC mineral resource estimate uses 10 more core drill holes than were considered in the September 2008 estimate that supported the pre-feasibility study. The estimation database comprises 387 core holes (88,685 m of core) from the Asarco, Hecla, Paramount, Silver Standard, Teck and Copper Fox drill programs. The drill database was provided by Copper Fox as MS Excel® spreadsheets exported from an Acquire® database. The database cut-off date for Mineral Resource estimate purposes was 1 May, 2011.

14.11 Classification of Mineral Resources

AMEC used the following criteria to pre-classify blocks into categories as:

Measured mineral resources: composites from a minimum of three drill holes within 70 m radius from a block centroid

In addition, AMEC only classified blocks to the Measured category if more than two thirds of the ordinary kriging weight used in grade interpolation came from the higher confidence Copper Fox drill holes

Indicated mineral resources: composites from a minimum of two drill holes within 135 m distance of the block centroid.

Blocks that were not classified as Measured or Indicated categories, but falling within the copper grade shell were classified as Inferred. The copper grade shells represent the limit at which grade continuity can reasonably be assumed. Remaining blocks were not classified. AMEC used a semi-automated process to smooth the initial classification and avoid islands or isolated blocks of different categories.