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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: VETTES PREVIOUS TALK WITH ELMER

Here a COPY of VETTES POST. IMO a good encouraging read for us in this silence.

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My talk with Elmer..(VETTE)

posted on Dec 22, 12 02:50PM (Log in to use the IP Check tool) [?]

1) Conservative Feasibility study, has to avoid push back and Teck approved, signed off and are pleased.

2) Exceeded the 8% required in the option agreement, now ball is in Teck's court.

3) Numerous ways to increase value i.e upgrading inferred resources to indicated.

Look at the metal value if the 171 million tonnes is upgraded, more gold, moly, silver as well as copper that would be added to the revenue stream which currently is being treated as waste.

4) Increase metal recoveries, a small 1% increase would make a significant difference in the NPV

5) Upside potential to scale up to 180 000tpd based on remaining resources and exploration potential (includes Discovery zone): leads to very long mine life, big companies want that.

6) Mining friendly political jurisdiction, BC pro mining

7) Outlet for concentration shipments throught CUU's contract with Stewart Bulk Terminals

8) On the power line (without power, no project)..yes apprently CUU has the 3rd spot. Only 3 spots on power line.

9) The engineers are optimistic that they can shorten the development time line when they complete the work required in the detailed engineering aspect of the project.

10) Maintained Capex to minimal increase, NOT a +6Billion Capex like many other projects in BC and around the world.

11) Significant expansion of the Schaft Creek project to the North, East and at depth through minimal exploration costs.

12) All the people he has met with this week in Van, think Teck is going to take 100%

13) Looking to file on Sedar early Jan.

14) IHO Teck decision will be very quick. This a strategic property for Teck and superior to Galore.

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