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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: For whom is the Webcast really for?

I think the webcast is simply for investors. I recall last year that CUU mulled a webcast when the market rejected the 2011 RE. For some reason they didnt' put on a webcast.

I think that they will want to explain the lower cutoff percentage, the significan increase in tonnage and similar aspects of the report. I doubt that any non- RE items (PP's, drilling, BFS) will be discussed.

I think that CUU wants to ensure that this last RE is full understood by the market as we head into the final chapter of this book.

As far as the Rhenium. I believe that the PFS mentions the Rhenium content but suggests that it is a bonus metal included with the Moly concentrate. That bonus will make the Molly concentrate that much more marketable. I don't know if we'd see much value recovery from the bit of Rhenium but it is a possibility. The 2007-10 PFS related reports recommend exploring the rhenium potential.

from http://www.copperfoxmetals.com/i/pdf/09152008_43-101.pdf

"Molybdenum occurs throughout the resource and can be recovered into a saleable concentrate containing 50% molybdenum at an overall recovery of approximately 68 to 71% to the molybdenum concentrate. The molybdenum concentrates should contain approximately 368 ppm rhenium. The mineralogical evaluation of molybdenum concentrates indicates that it should be possible to increase the molybdenum concentrate grade to approximately 54% molybdenum. However, additional studies are needed to optimize the molybdenum separation circuit and achieve these results. " page 16

"For the Molybdenum concentrates, indications are that there would not be a specific payment for the contained Rhenium. However, in a tight market for available roasting space, the Rhenium content may dictate that the Schaft creek concentrates would have preference. " pg 390

On page 210...

"21.4.2 Other Opportunities

Other opportunities that have been identified, and to some extent investigated, include:

• High Pressure Grinding Rolls (HPGR) to replace the SAG mills;

• On-site treatment of copper concentrates;

• Cost sharing of infrastructure with other developing projects in the area;

• Paste tailings to reduce the wet tailings footprint;

• Alternative mill site locations;

Recognizing rhenium as a revenue stream"

An update on Rhenium would be a worthwhile topic in the Webcast.

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