Question: What is happening with Copper Fox? What's going on?

Mike: A lot is happening. We are working with Teck. We are working on getting organized, a program for Schaft Creek for this summer. Working on getting the Environmental Assessment moving forward. So, lots of things going on.

Question: When do you expect to hear from Teck? The latest date is June 4th?

Mike: Well, we've had some delays in discussions. There were some holidays involved for people so we haven't chatted for a while. But everybody is back now so discussions will be ongoing.

Question: Is June 4th, still the deadline from when they received the Feasibility Study on Feb. 4th? Is this still the deadline?

Mike: I don't know about deadline. But timeline certainly. We expect things will be sorted out before then.

Question: We haven't received any NR from CUU in a long time. No confirmation on BFS being accepted by Teck as bankable, nothing. Will we be getting any NR some time soon?

Mike: Well, we are passing out information as soon as we can. We expect some information out before too long. I can't be more specific then that. We are certainly trying to get information out as soon as we can.

Question: Not really, if we are still to date questioning whether Teck has accepted our BFS as bankable. That not getting a NR from CUU on March 6th, we could assume that Teck accepted the BFS as bankable. That's assumption and that's not good...

Mike: The term "bankable" is used in some underlying Agreements, that were drawn up many, many, years ago. It's actually against the Security laws to use the word bankable. We would never use the word bankable other when we are referring to, although we shouldn't be, other than when we are referring to an older document. The reason being, every bank has a different way of figuring out what is a bankable feasibility study, as a result, we refer it as a positive feasibility study. That's how we referred to it when we announced it and we announced that it was completed, was satisfied that we had...

Question: ... but we did not announce that the 30 days review period was over and Teck has accepted the BFS. Would have been nice to have received a NR to confirm... and in addition to not receiving the Liard shares, it gives the feeling that maybe something is going wrong.

Mike: Well, I can assure you from my perspective, that things are not going wrong. It's just taking a little longer. It is a big project. We are working with them on it. That is what we'd like to leave you with. If by chance we partner with Teck Resources, we are prepared to work with them.

Question: So, we have a JV Agreement due April 5th. Is that going to be on time or is that going to something we are not going to hear of either?

Mike: That's the first I've heard of that.

Question: Well, according to the Salazar Option Agreement, Section 8, discusses the Joint Venture Agreement...

Mike: Well, I really can't comment to that. I'm afraid I can't do that.

Said thank you, goodbye end of conversation.