CUU NR March 24, 2011:

"Copper Fox acquired 26,954 shares of Liard Copper Mines Ltd. (Liard), a private company incorporated in BC from Mrs. Mary Elizabeth Dunn for a cash payment of $269,540 and 245,000 common shares of Copper Fox. Liard holds a 30% Net Profits Interest (NPI) royalty in the Schaft Creek project. Teck Resources Limited (Teck) owns 78% of the issued and outstanding shares of Liard. Upon completion of a positive Feasibility Study, Copper Fox will acquire Teck's 78% interest in Liard. The shares acquired by Copper Fox as a result of this transaction with Mrs. Dunn represent approximately 1.47% of the issued and outstanding shares of Liard."

http://www.copperfoxmetals.com/s/NewsReleases.asp?ReportID=448865&_Type=News-Releases&_Title=Copper-Fox-Announces-Strategic-Acquisitions-to-Enlarge-Schaft-Creek-Propert...

I'm not sure what value the CUU shares were deemed to have been at the time of the transaction but we traded in the neighbourhood of $1.75-$1.92 in the first 3 weeks of March 2011.

Let's say the transaction valued the shares at $1.75:

245,000 Cuu shares X $1.75 = $428,750

plus the cash: $269,540

Transaction Total: $698,290

Number of Liard shares purchased: 26,954

Value place by Dunn transaction per share: $25.90 each

Total shares?

26,954 divided by 1.47% = 1,833,605 issued and outstanding shares of Liard

implied total value of Liard: 1,833,605 X $25.90 each = $47,490,369.5

someone check my math