list of questions, incorporating questions from the board. I don't think there are many questions he can't answer.

1. Elmer, you have put five mines into production. In comparison to those mines, how do you view Schaft Creek, in terms of scope and potential profitability? Is this the pinnacle of your geology career to date, or has the macro environment dampened your expectations?

2. What is the status of our negotiations with Teck. I know we are waiting to hear from them. But how close do you think they are to making a decision? I understand Teck is asking questions and CUU has been answering these questions. What kind of questions are they asking? Technical FS related, or JV or prices for buying the project/company?

3. What was the official start of the 120 day clock Feb 4th? or earlier? In your opinion from conversations with Teck, do you think we’ll get a decision from Teck before June 4th?

4. How will Teck and CUU arrive at a fair price for a buyout given our SP and world financial stability? You mention Real Options Case (ROC) valuations as a current method of valuing mines. Our ROC at 8% NPV is $1.3 Billion. What would a miner pay for that ROC?

5. Why have shareholders not been formally informed via a NR that Teck has accepted the positive feasibility study?

6. The option agreement paragraph 15.1 requires Teck to state their intention of whether they are going to pursue a Definitive JV agreement 60 days after their acceptance of a pfs. That would be April 5. Will shareholders be notified on that date of Teck's decision and if not what would the reason be for not doing so.

7. Are we expecting to JV with Teck? What is the greater possibility of happening JV or buyout of the project? In a JV situation, could a liquidity event happen somehow by selling certain rights or optioning our outside claims?

8. Will Schaft Creek and the lands around it someday be a mine?

9. Any chance of Teck buying us out 100%? Is that why Teck has not transferred the Liard shares? If he beats around the bush and say they aren't important right now, then counter with: But the BC hydro NR was deemed material and that NR basically says we are intending to apply for power. How could the status of all those Liard shares not be more material?

10. If Teck walks there was mention of a Plan B. Does plan B involve mining, exploration or selling to a different miner? how much longer would we have to wait for a liquidity event because of the Plan B fallback? does CUU remain focused on selling to the highest bidder??

11. Do we have other suitors on the sidelines should Teck give us a low ball offer?

12. Do we expect a bidding war? Would a bidding war not provide the highest probable buy-out price? If he says no or not sure, please press for his opinion as to why not. That was our original intent.

13. How do you feel about the dilution at these depressed share prices and why doesn't CUU attempt to support the market share price by sharing more Mira and Titan findings.

14. How is Ernesto? Does he stay in touch with you daily? how does he feel about the negotiations? Is he and David on quiet time? How does EE feel about today's stock price? At some point is he going to jump in and boost our sp and buy on the open market? It would be to his advantage to boost the sp. How anxious is EE to complete this deal and move on? Does he need the money or is he willing and able to stay the course?

15. Why are there no institution buying? We need a move in the sp like in 2011 from Stifel.

16. About the recent PP. Why did Ernesto not just go for the full $3M. He did not pull the plug on us did he? Did we find investors for the other $500K? Are we going to reprice that PP?

17. What about the EA? Why did we move it to Q3 from Q1?

18. When will BC Hydro start the Facilities Study? Do we have any connections in BC Hydro who could move things along faster? Their average timeline from start of study to end is about 6 months to 3 years. How do these timelines jive or not jive with the BFS timelines? Wasn't the BFS based on the premise that power would already reach the site by Mid 2014?

19. Why was the application for BC Hydro Facilities Study Assessment not completed right after FS was completed in December instead of 3 months later?

20. Are you happy with the progress CUU is making with Teck?

21. For us long time investors of CUU, who are also really worried about dilution with more significant delays to a liquidity event, what advice do you have for us?

Thank you Elmer for taking the time to talk to me and answering my questions. Bye.