Hi MTS,

I just realized this note was not dealt with and for that I apologize. I could respond to your concerns in point form but perhaps a discussion would be more informative? May I ask that you give me a call at your convenience at 403 264 2820.

Mike

July 23, 2013

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Dear Mr. Smith, I appreciate the invitation to call you direct, but I am more confident asking questions in the written word. I would like to ask you more questions on behalf of my peers, and myself, from the Agoracom/CUU site which, by the way, does not allow anyone to ‘bash CUU’ and is usually highly supportive of management. It would be very much appreciated if you would give me a written response so that I may share it with the others.

From ChunkyToast:

· The most disturbing part of this joint venture is that it seems as though we have lost all control over Schaft Creek. It’s like having a vault with countless billions locked away, and you’re certain 25% belongs to you, but Teck has the combination and will only open it when it suits them, and not a minute before.

· When will we really see the EA and the road approval submitted and okayed so that part of the development can start? When will a mine plan be submitted and a permit approved?

· When I first invested in this company the timelines looked somewhat predictable, now I feel like I own stock in a subsidiary of Teck, with an unpredictable agenda or plan.

· If we get the EA approval it changes the picture immensely, but that won't happen for a long time.

From WillyNilly:

· With the old agreement traded in for a new one we've gotten rid of the time constraints which provided everyone with a reason to invest in the first place. And all without CUU seeking shareholder approval for what I would consider to have been a material change.

· Yes, I know there are advantages to the new agreement, but notwithstanding the announcement of the 'Summer 2013 Exploration Program' I can't think of any reason why Teck would now want or need to hurry. I'm open to being enlightened.

From Dogger12:

· I really hope what is going on with CUU...as in drilling and proving up more is not Elmers Plan "B"?

· I would have expected more than just this....CUU shareholders have waited and waited and waited some more.

· With Teck having 75% now I need to understand....who drills ....CUU or Teck? If Teck drills, when will CUU get the results? Because before all this back in deal was struck, CUU drilled and got the results of the drills and were able to see the results first then give them to Teck and Teck had to give the OK for a NR. Now it seems the tide might have switched.....CUU no longer has 100% interest in Shaft Creek....Teck owns the 75% and if Teck does the drilling then CUU has to ask for the drill results? For that matter does CUU have to beg Teck to put out a NR or can CUU put out a NR without Teck’s approval now?

· Low and behold it would be great to know what Plan "B" is now.

From Sharp62:

· I'm wondering what comes AFTER Phase 1 drilling?? Based on the NR and Conf. Call there seems to be another Phase of drilling coming after these 2 months (approx AUG-SEP). There may have been an agreement for moving forward to have TWO phases, but why not announce when/where the second phase is?

From cpac:

· Majority of retail shareholders under water.

From lletea:

· My understanding was that CUU handed over to TECK their EA file/documents and it is now up to TECK to finalize and submit the application?

From MTS:

· As a point of interest, this joint venture seems to have caught most people off-guard as I, and others like me, believed we could expect a liquidity event. Even Mr. Stewart a while back, was quoted as saying he was having his tax people look at the biggest tax relief to shareholders as possible either with a dividend / Teck shares and/or cash if this took place.

· It seems as though everything we believed in was worthless (the 2002 agreement) and has been thrown out of the window and we're starting from scratch.

Mr. Smith, as you can see there is a lot of confusion affixed to this joint venture agreement; a lot of which could be cleared up just by answering the above questions/queries or comments.

Thank you, MTS