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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: Whittle pit = Multi-mine option

According to the NI 43-101 tecnical report that Teck filed for THVC in March 8, 2013, there are Whittle pit shells for all three pits you mentioned. Multiple pit shells are typically generated for each pit using one of a number of pit optimization approaches. The FS for Schaft Creek used the LG algorithm to create a number of pit shells over the defined resource and a final shell is selected that optimizes a large number of parameters, including the economics. Reserves are then calculated from the final pit design. The press release does not mean multiple pits are a certainty at all. The press releases to date suggest a smaller initial pit focused on the Liard zone only. There's no mention of Whittle pit shells in the FS, so the wordng "generation of new Whittle pits" suggests Teck is making at least a second version of their design. A smaller intial project should not be viewed as a negative. Proceeding with the development of SC would be the big news.

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