Almost started posting from the AGM, but decided to pay close attention instead :)

1) All the directors and management were there, and hung out afterwards to chat. Probably got through the business in 15 minutes before Elmer turned to a brief presentation. Same as on the website except it has one or two new pages on Sombrero Butte and Van Dyke properties.

2) Elmer went through the presentation and went over the positive for Schaft Creek that we all konw. He said we're very "blessed" to have lots of room for infrastructure and waste, etc. and focused on the presentation pic showing the airstrip, etc.

3) Mentioned the port again and what a big deal that was. The shipping cost would go up $62/T if shipping to Vancouver (then overseas), and Stewart only has room for the concentrate from 5 mines approx. and 3 are already using it. So smart move on their part to secure the port facility.

4) Mentioned in passing here: "we are closing in on the end-game." Figured we'd produce about 600k tonnes of concentrate a year (didn't get clarification on this, but I assume it means all the concentrate - there will be the copper, gold, silver one, and then a separate moly concentrate that will be shipped and sold).

5) Liard, opent to the East a little; Paramount open to the East, North, South and at depth. Estimates that the Paramount would grow by 30% tonnage if drilled more, but drillling more on Paramount would have meant another RE and delaying the BFS. No way, they are getting the BFS done instead of any more delays! Probably another 500m of mineralization continuing to the east of hole 412 (see pres.).

6) NSR per T and cash costs (US$/lb Cu) after other metal credits are key in evaluating a deposit. He mentioned the -$0.04 'estimate' from BMO and I believe he said this is reasonable and a big deal. It is not just pounds in the ground, but how economically can you get them out.

7) 7-8km of "pretty good signature" (Discovery and North), but a question is are they iron sulfides or copper sulfides. Lots of further potential for drilling and multiple deposits on the 'district.' The district and potential of multiples was repeated numbers of times.

8) Elmer said one drill is stopping today and moving east today (I believe from 427 to the Mike Zone - 428?? - kind of missed the little laser point and where it went there)

9) 50-60,000 m of drilling to drill out the zones and it would take years. They are only doing Discovery and Mike this year (I guess if there is correlation between Mira and Liard, Paramount, and then holes in Mike, Discovery, they can infer with ES and GK ... my guess as Elmer didn't defend why they aren't drilling in the other zones)

10) ARIZONA: some of them are leaving this Sunday to go down to Arizona and do some due diligence on the new lands. In short, Elmer thinks the surface has only been minded, and has hunch that polymetallic porphyry systems lay further below both Van Dyke and Sombrero Butte. Not interested in the breccia pipes themselves, but the porphyry source of them. In Chile, Elmer found good porphyry under the breccia pipes. Great 'potential' in these projects, especially is there are larger, unrealied porphyries lurking beneath what has been drilled/tested.

11) About $80M in expenditures to date that Teck will have to back in for, if they choose to back in. Elmer said if he was Teck, he'd take out all of Schaft Creek, and CUU is looking to sell and get totally out of Schaft Creek - he said this a few times in different ways. Also said Teck are great poker players and haven't made their intentions known, and if they don't buy us out, then we'll go shopping. His hunch is definitely that they will take us out however, and they will take all of Schaft.

12) FS is on schedule (multiple questions about this in the Q&A, and yes, it is on schedule). Cam has pulled together a seasoned consulting team to rip apart the FS pre-release so there are no mistakes and no BS (like Extorre and Baja). This is going to be top-notch with no mistakes.

13) If Teck makes an early offer (question by shareholder) the FS becomes irrelevant and we might not see it. Elmer again said, they could make an offer tomorrow if they wanted. And the 120 days is the 120 days ... so they are eager to start the clock. Stated a few times, that the directors/management want 'out' of Schaft Creek. The goal is to sell, and they will not become miners. Also said they would distribute the proceeds of the sale in a "tax-friendly way" and keep going. "Copper Fox is an explorer."

14) Elmer will check on the Mira progress, but expects it in 2-3 weeks. 100% correlation on aerials and drilling to date, but doesn't mean it is always 100% going forward. Still have to drill this up (although I get the sense that the more correlations there are between the magnetics and drilling ... our value shoots up, Teck aren't idiots).

15) Sidenote: CUU shows NR's to Teck, but don't needs Teck's approval. They've had some differences of opinion over what to release, but CUU does the releases. That said, they are updating Teck on everything so that there are no surprises when the FS comes. Elmer: "We've always tried to procue a practical and reasonable feasibility study."

16) Last question in the question period: "My wife keeps asking me if the FS is really going to be out by mid-late summer." Elmer: "It's in play, yes, for the time schedule"

That's it for now! Very encouraged, all is well, had a nice chat with Ernesto :)