Hi All, I was there. Not too many people, maybe 30. Not alot of questions, I had by far the most. Left feeling really good. Are there still some risks yes but at this point I think they are manageable and they have done what they can. It is really the larger market that's the problem. David M commented in his entire career has never seen the resource sector this bad and thinks we are about to come out of it. I am sure the presentation will be posted soon.

Awarded asked some questions so I will answer those and some further thoughts at the bottom.

1.During the Joint Venture negotiations with Teck, did Copper Fox receive an offer (or suggestion of offer) from Teck that was unacceptable to Copper Fox management or directors? You know they won’t answer that. There was a comment that Teck wanted to know the inside ownership and confirmed EE has 55% so protects us against a stink bid being accepted.

2.Has Copper Fox ever received an offer or suggestion of offer from any other company that was unacceptable to Copper Fox management or directors? You know they won’t answer that.

3.The July 15, 2013 news release announcing the joint venture with Teck says that the agreement is in spirit with Teck’s right to back in at 75% under the former agreement. Under the former agreement, Teck had to spend approximately $350 million before earning back 75% interest.Since Copper Fox would retain 25%, $87 million of that $350 million would be attributed to Copper Fox’s capital contribution.Under the new agreement, Teck’s upfront expenditure is $20 million cash to Copper Fox, $40 million in future contingent payments, $4 million for acquisition of Copper Fox’s mineral claims, and $60 million for development costs. Teck buys back immediately with a $124 million commitment vs. earn back with $350 million under the previous agreement.

a.Given the enormous reduction in Teck’s monetary commitments to earn back 75%, how can the existing agreement be construed as being in the spirit of the previous agreement? There are many gaps in the previous documents and being 11 years old the Salazar agreement is not enforceable.Trying to enforce it could trigger a legal battle neither is interested in getting involved in.

b.Besides Copper Fox being able to insist on $½ million in expenditures each year, is there any provision whereby Teck cannot mothball the project? I think there is a lot of misunderstanding of the Laird shares.There are 7 holders of the shares.Teck would have to deal with the 7 partners and would have to prove the project is not economical, which CF has already done and Teck is currently improving the economics of. It was clear to me mothballing it would be a serious problem for Teck.The gov wants mining projects, the Tahltans want this project.Teck needs copper, their other projects are on hold, this may not have the highest grades but when you look at all the factors together this is the best project they have on the books anywhere.Xstrata would not sell their Laird shares.

c.If additional resources are discovered by the 10,000 metres of diamond drilling by Teck, will a new feasibility study be required?They don’t believe it will be formally updated, only parts to confirm the data and financials.Once CF has the numbers, they will do the same more likely with the RE.So results are expected before end of year, and 2-3 months to get our updates done so by March.We will update our data with those results and put together what we now think our buyout price is.We take that to Teck for first offer, if that doesn’t conclude then the For Sale sign goes up.We are currently not shopping the 25% but want the further drilling results first.I pushed my concern over the large risk being there with Teck walking, or mothballing.They were not concerned about that at all and I stressed the market and shareholders are still concerned over this.

Also, if Teck decides to not move ahead, we don’t get the 75% back, it’s still theirs.

d.Are there any pending deals or further developments that are pending upon the results of the diamond drilling? See above.

4.What are the chances for getting copper out of Van Dyke via fracturing and in-situ leaching?What is the anticipated capital cost to undertake in-situ leaching?Have environmental permits been issued for fracing and in-situ leaching?The leaching is the main method, cost is around $1.00/lb so not significant cost.Water is not an issue, only an issue on the bullboards.Plan is to continue drilling and eventually partner with local, Freemont, Capstone, BHP.These properties have far better overall value than Schaft Creek.The towns in the area are dying, they want these projects, and they will provide the water.There are operating mines so water is not an issue.

5.Will a partner be brought in for Sombrero Butte or Van Dyke, or is Copper Fox planning on exploring on its own?See above.

Overall, I asked a lot of questions and tough ones.I left feeling much better and secure in this investment. I kept on them about the SP, Ernesto said little but the one thing he confirmed is a reverse split is not in the cards and did recognize the $1.00 minimum for funds etc. is a problem.

We talked about buyout pricing and they are basing on what the value is and not the SP. We would hire an outside consultant to review comparables, buyouts etc to assist in coming up with the buyout price. Elmer did make mention of a few which were significant multiples. They think the market is at bottom and looking to improve, the drilling results should help with the sp.Generally though, the depressed market is the problem. Talking to investors, brokers, etc. who are now starting to look at the project with the Teck back in but the markets still have people scared.They can wait til things improve but not looking for another few years in this.They are also looking at more acquisitions as things are cheap, but expect that to end within the next 9 months and projects will get expensive.Believe we have the best project in BC right now, far better than Galore.Teck just completed a larger aerial survey program between SC and Galore so are thinking much bigger picture.

Teck is spending about $15m drilling now, they don’t throw money away and are very serious about their current diligence. They have taken over the EA and port of Stewart contract.Teck wanted to start negotiating the day the FS was delivered.

David spoke a few times, he reiterated the gov. support, the Tahltans, the Laird agreement as reasons he believes there is currently little risk to this becoming a mine. He also made the point, everything Teck spends increases value of which we get 25% of eventually and we spend nothing further.