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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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Current Activities:

Environmental Assessment/BC Hydro

The SCJV has voluntarily withdrawn the Schaft Creek project from the Environmental Assessment ("EA") process.
The SCJV is of the opinion that keeping the EA active would not be significantly beneficial to the project at this time and there are no technical or procedural disadvantages to leaving the EA process and then re-entering at a later date.

Separately, the SCJV has agreed that BC Hydro's current planning for overall transmission system upgrades would be facilitated in the shorter term by not including the specific load profile of the Schaft Creek project,

which is still under evaluation. The project has therefore agreed to be removed from the interconnection queue, and it is expected that re-initiation of the load interconnection process in the future will not be an impediment to the project.

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