Top ten questions .(December 2011)

4. At what point do we say we have diluted as much as we can? There is a general consensus that we would get the most value by starting the Teck clock now.

A. The drilling is done. The burn rate is as low as it can get and we have enough in the coffers to conclude the year and start next years work. We have a number of prepaid expenses that will continue to provide data and reports. We will plan 2012 just because this is 100% our project until such time as Teck completes the “Earn Back In”. This is an important driver in all our workings.

6. Can we expect some guidance on the "Earn Back In" terms soon?

A. The burning question. This is our 100% owned property until the Earn Back In is completed. The agreement was a generic form that Teck used a long time ago. There are no special clauses that could take away our rights to work as we please. The negotiation points surround the applicable expenses so if we want to spend money on something else that’s up to us. We control it all until then.

http://agoracom.com/ir/CopperFoxMetals/forums/discussion/topics/542289-email-to-copper-fox/messages/1710506#message