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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: Corporate update News!

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The management committee meeting for the fourth quarter 2015 was held in January 2016. Activities completed during the last quarter of 2015 included updating of the geological model to increase the confidence level in, and understanding of, the geology of the Schaft Creek deposit.

A review of comminution data based on geometallurgical principals has provided an improved view of variability in the deposit. This will guide future work in optimizing the design of the project's crushing and grinding circuits.

The results of the soil sampling completed south of the Liard zone identified a copper-molybdenum geochemical anomaly that extends over an 800m horizontal distance.

During the quarter the SCJV increased its equity ownership in Liard Copper Mines Limited ("Liard") to 85.45%. Liard holds a 30% net proceeds royalty on the Schaft Creek deposit.

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