I have talked with TTM. I have learnt some things I did not know and I NOW have a very different perspective on the repricing proposal put form by TTM.

I have also relearned a valuable lesson... to make sure you know both sides of the story before making a decision. That one is hard to do when we are all in reactive mode these days... hypersensitive to anything that looks negative.

Points to consider:

1) It is entirely in the right of any corporation listed on the Vancouver stock exchange to price or reprice options to as little as 80% of the current stock price. That means that TTM COULD HAVE set the new price to as low as 16cts given a current price of 20cts. They did not do this. A new price of 60cts is almost 4x what they could have set it to!! Now that is a change in perspective, isn't it! It certainly made me pause and think.

2) The options proposed for repricing are in friendly hands which is VERY different than a PP IMHO. The actual purchase of these options will not be financed by the company as stated in the circular and any company. This means that these options could/can provide another form of financing for TTM which may delay the need for a PP. Note: there is no way anyone would agree to PP strike price 3x the current stock price. It would never fly at those levels... so a PP would be lower, more dilutive AND it would likely include warrants.

3) No warrants are being repriced and there is no plan to ever reprice warrants.

4) They could have issued new options at 60cts, but that would have increased the number of options out there and decreased the number available for future use... such as bringing on new Directors when required.

The only way Crich can compensate Directors is through options. Directors are not paid and you have to compensate directors in order to maintain the BEST in the business. Given the current market conditions that TTM and ALL companies are facing... a repricing was deemed a fair decision for the Directors currently holding these options. And... knowing what I know now...I have to agree... that 60cts is fair. I don't have to like it... but the move really has more to do with the market TTM’s business decision because of it.

You have to step back from this issue to come to THAT conclusion. It took me a while to arrive here for sure.

Note: The price is STILL 3x the current share price so it is a strong indication that TTM expects their share price to rise substantially from here. When that will be is anyone’s guess.

Again, this was a business decision given the limited tools that TTM has to work with in these unprecedented times. Options don't draw down the cash for expenses... which is very important during this time. But, they still provide incentive to directors and partial compensation to employees.

Crich is VERY sensitive to diluting their stock... all you have to do is review his ongoing actions with regard to the issuance of shares (and buy back for that matter). They are very consistent.

Having considered all of these points, I'm 100% on side with TTM on this decision. I understand why they made it and given all the facts I would likely do the same. Some decisions have to be made even if we don't like them. It doesn't mean they are wrong or unjust. It just means they are the right decision in very difficult times.

The bottom line, like it or not is this. TTM is going to make decisions to ensure this company is going to SURVIVE. Crich is 100% committed to this. That is EXCELLENT news for you and I. They make these decisions to maximize the chances of turning this world class resource into a mine. These days are less about keeping shareholders happy and more about the hard decisions required to meet their goal. I doubt there are any decisions that TTM could make these days to make shareholders happy because NOTHING will move the share price up until this market hits a true bottom and the economy picks up.

Remember, goals:

#1 Survive... that means our shares still have value!!

#2 Keep moving forward, one step forward every day.

#3 Turn CHU into a world class mine.

The good news is that TTM continues toward their goal so the "when" hasn't changed very much. Sure, their timelines will be pushed out. But that is a lot better than many other juniors out there that have stopped in their tracks and/or gone into care and maintenance.

At the end of the day, these options will have NO impact on the share price. I believe this. Sure... the holders of these options will be able to buy their shares at a cheaper price, but that is just the way it goes for juniors. The repricing was a business decision based on market conditions. That's it, that's all.

My first reaction was one based on emotion and frustration. I have lost a lot of PAPER money... and the optics of this move looked initially bad to me. Having talked with TTM, taken time to weigh their choices and look at this decision from their perspective - a business perspective... I believe they have made the best decision in an environment of hard choices.

No, I haven't drank more kolaid. I just realize that my initial reaction was very one sided and now I understand the reasons for the decision and realize that my hasty decisions was uninformed and unfair.

Now you all have some additional information to consider for your decision in this matter.

I re-voted online with a YES for both proposals. The system took it... so I assume that my initial vote has been changed.

Long and strong on TTM.

Sincerely,

m. z.