I think that we know where we stand:

1. Teck has not accepted the FS as "bankable" under the Salazar agreeement, we have not earned the Laird interests and the 120 day period is not running.

2. There seems to be some discussion with Teck about some kind of joint approach or buyout but there is no forcing function as to timing.

3. CUU is thinking about next steps from an exploration standpoint presumably to increase its bargaining position.

I also think that the statement that "bankable" cannot be used in a contract because of legal issues is absurd on its face. It could well be that you can't use it in a financial disclosure doc but that doesn't mean you can't use it as defined term in a contract. The Salazar agreement could have called the 12% NPV case a "banana" and it would mean the same thing that it means now if the "banana positive feasiblity study" satisfied the requirement for earning the Laird shares. It's just a word.

Thanks Liddy.

Regards,

Volpino