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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: MK and K

MK has provided good conservative rationale for this price for our share of SC. Others have taken a different view and placed higher values on what SC is worth with differing values assigned for Carried to Production clause, district potential, Liard shares, geopolical stability, etc.

I view MK's assigned value as appropriately conservative for me to reasonably expect this return range. A return above this I consider possible and bonus if we can snag through all the pain and suffering to date.

My $0.02

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