The 2014 program at Schaft Creek commenced March 19, 2014. This program has taken 10 and a half months from today. The purpose of the program was:

Schaft Creek Joint Venture:

Teck Resources Limited ("Teck") as operator of the Schaft Creek Joint Venture has recommended a comprehensive series of studies to review all aspects (including metallurgical, pit slope design, geological modelling and environmental) of the Schaft Creek project. The objective is to review all data collected on the Schaft Creek project to the end of 2013 to update and optimize various parameters of the project. The studies will be conducted internally by Teck and outside consultants will be retained if and when necessary.

The 2014 program also has a field program planned of mapping and re-logging core to obtain a better structural understanding of the Schaft Creek deposit for pit slope design purposes. Environmental monitoring studies will continue through 2014. The 2014 program is estimated to cost approximately $2.5 million.

(So we seem to have concluded the "2014 field program" which located the new zone of mineralization. I am now hoping the Optimization studies have finished and the next news release (tomorrow or early next week) provide shareholders with a final report with explicit and detailed reports of the Optimization studies. On October 23, 2014 the joint venture announced an "update" on the studies as the news was a "progress report". This progress report was 3 months ago and I want the final report now! No more delay tactics from Teck as they are potentially stalling for time)

Highlights:

• Work on the optimization of the Schaft Creek project focused on the Liard zone of the Schaft Creek deposit,
• Studies undertaken include metallurgical, pit slope design, geological modelling and environmental of the Schaft Creek project,
• A mapping and core re-logging program (16,867 metres ('m')) was completed to gain a better understanding of the geotechnical and geometallurgical aspects, focusing on the first 10-15 years of potential mine life,
• Field work located a potential new zone of copper-gold mineralization north of the Discovery zone. This zone covers an area that is 1,300m long by 800m wide,
• A review of the metallurgical testwork on the Schaft Creek project indicates that additional variability testing is required. Geometallurgical modelling of the deposit is underway. Collection of additional metallurgical samples will be required,
• Resource modelling and a review of the precious metal content is underway,
• Efforts to reduce the capital expenditure at Schaft Creek include a review of the location and size of the milling facility, tailing storage facility and camp facilities.
• These activities all comprise a high level review.

(So we have given the joint venture the patience and "time" to conclude these reports as 3 months ago they stated more time was needed as these studies were "underway". Let us see these updates and the final reports and move on to the 2015 program)

Mr. Stewart, President of Copper Fox stated, "We are pleased with the progress of the Joint Venture at Schaft Creek. Some of the work currently underway is time consuming and detailed in nature. More time is required to complete this work which may result in the need to collect additional information to finalize the optimization work. The advanced stage of the project and the decisions to be made require that the Joint Venture address key risks related to the Schaft Creek project. The location of a new zone of mineralization is encouraging and supports our interpretation of the potential to locate additional zones of mineralization north of the Discovery zone."

Schaft Creek Project:

A significant aspect of the 2014 activities undertaken by the Joint Venture is to identify opportunities to reduce capital expenditure. This initiative is related to a high level review on three aspects of the project where capital cost reductions may be achieved. These are: i) the location and construction of the containment dams for the tailing storage facility, ii) the re-location of the mill closer to the pit to reduce transportation distances and iii) camp facilities.

The Joint Venture has identified a mineralized zone north of the Discovery zone, a new zone of copper and gold mineralization reporting value from outcrop samples of up to 1.56% copper and 1.3g/t gold. The area of interest is 1,300m long by 800m wide. This work also identified a new possible mineralized target south of the Schaft Creek deposit as well as extension to the mineralization in three areas of the Schaft Creek deposit.

Geological interpretation of near-surface broken material identified in the feasibility study is a potentially positive development in relation to the pit slope stability, and a separate zone of low-RQD (Rock Quality Designation) material is being evaluated for mill throughput. A total of 16,867m of core was re-logged in 2014 bringing the total core re-logged at Schaft Creek to 31,560m since Teck Resources Limited (the 'Operator') assumed operatorship of the project.

As part of the review of the metallurgical testwork, the Operator has recommended additional variability testwork to determine more accurately the metal recoveries and mill throughput at Schaft Creek. Geometallurgical modelling and additional testwork will be required in the next phase of studies to further advance the project.

The work completed during the balance of the year and any recommendations for 2015 activities will be reported on when they become available.

(We need to see the new data as this will potentially change the way Schaft Creek is viewed by the public in connection to value and economics. Let us see the new resource model, the new metal recovery rates, pit slope design, revised mine plan, etc)

After 10 plus months of conducting these 2014 optimization studies, I think as a part owner in this company, it is time for some real answers and a final report detailing all the new data from these different studies we developed in connection to these "comprehensive series of studies to review all aspects (including metallurgical, pit slope design, geological modelling and environmental) of the Schaft Creek project".

If we hear what should be reported, this stock will easily go to 30 cents and beyond very quick. In hope of hearing of a final report and the conclusion of the 2014 program objectives I have added a considerable amount of shares to my holdings as I await the "milestone" news announcment of these studies being conducted to improve the economics of the mine. I believe part of the 2015 program at Schaft Creek will consist of revising the resource update, the mine plan and feasibility study using the improved numbers and the new data collected the last 2 years of mine development.

Two big things to improve the economics: waste removal costs abolished (which will improve and reduce the operating costs and overall cost to produce a pound of Copper) and added minerals: converting inferred to M&I and adding the high grade mineralization that could not be incorporated in the BFS due to pit shell issues and safety. These metals at the bottom of the pit that are NOT in the BFS represent nearly half the M&I resource estimate at SC. This will immensely drive the economics of the project up. I am also hoping for an update on environmental permitting. Copper Fox will not sell until we receive the EAC and a production decision. The reason we would wait for these developments to unfold is because it would further de-risk the project which would get us maximum value for our 25% from a major.