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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Teck Q4 Conference Call

For the third time in as many days I would refer you to some correspondence I had with Greg Waller of Teck Resources in September 2011:

Me: I would like to understand some comments made by Mr. Lindsay. He has stated that he is not contemplating acquisitions in order to expand future mining. What about all those companies in which Teck has current agreements that are in the exploration stage? Does that mean Teck has decided they will not be participating in any back-in agreements for the forseeable future?

Greg: Don wasn't referring to this sort of decision when he discussed acquisition potential. We wouldn't consider our decisions to exercise our back in rights on our exploration ventures as acquisitions.

So basically, they do not consider it an acquisition to earn-back into CUU, and then buyout the remaining shares. I believe by saying that they are not looking at acquisitions it makes it more likely that they intend to buy us out 100% and build this mine!

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