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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: Today's NR

Don't shoot me for mentioning this - its been a hot topic today elsewhere and wonder what people here think?

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From the Cautionary Notes:

Known risk factors include among others; the results of the Joint Venture activities at the Schaft Creek project including;:the need to complete additional variability testwork; studies to reduce capital cost, geotechnical investigation, uncertainties relating to interpretation of the previous drill results and the geology, the overall economy may continue to deteriorate; the actual mineralization in the Schaft Creek deposit may not be as favorable as suggested by the measured, indicated and inferred resource estimate; the measured, indicated and inferred resource estimate for the Schaft Creek deposit may not be reliable or indicative of any commercial benefit to Copper Fox; or at all; the need to obtain additional financing and uncertainty of meeting anticipated program milestones...

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This is much stronger wording that previous cautionary notes. As far as I am aware, the part that is bolded is all new to this NR.

Is it possible that the optimizations have uncovered problems with the FS? Maybe that is why there is talk of faulting, 12 year mine, etc.

What do you think? Is this pointing to previously unknown issues with our FS? Previous interpretation of drill results have uncertainties? Actual mineralization may not be as favorable as suggested by resource estimate and it may not be reliable? Why add this now right after the JV meeting? Covering bases? I don't know, but concerning for me. For the amount we spent on that conservative FS I would expect it to be reliable (bankable, really).

Did anyone else think the NR seemed to be rushed together? Really odd to have a NR released at 4am Alberta time after a weekend. Would Teck give their approval for release at such an unusual time? And the content of the NR - didn't say much aside from more of the same and more information will follow later this month.

Seems strange, and a fairly hot topic on the other boards. I would like your take on it as I'm not sure how concerning or not this should be?

If we can discuss this without throwing out accusations that would be great... This hasn't been discussed here before. Just looking for some honest opinions?

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