Welcome To the Copper Fox Metals Inc. HUB On AGORACOM

CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: BMO flash (short) report

Teck has entered into a JV agreement with Copper Fox (CUU-V, not covered) regarding the Schaft Creek property, a copper-gold exploration property located in Northern BC, 26km from Galore Creek. Teck will hold a 75% interest in Schaft Creek and Copper Fox will hold 25%. As of May 2012, Schaft Creek has an estimated measured and indicted resource of 7.1B lbs of contained copper at 0.26% grade. Assuming a 0.50% copper equivalent cut off grade, the measured and indicated resource would be approximately 2.7B lbs. Teck will make an initial $20M payment to Copper Fox and has committed to two additional $20M payments (at the production decision and at mine completion). Teck has also agreed to fund the first $60M of development costs and fund Copper Fox's 25% portion of costs above $60M. Due to the relatively early stage, Schaft Creek is not in BMO’s model, but represents a potential next-generation project following QB2 and Relincho.

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