Hello Mr. Stewart, Happy New Year.

Drill results for Schaft Creek were delivered in December 2013.

Drill results were highly anticipated but seemed to fall short of expectations. At least my expectations. (the grades and thickness of the mineralized intervals were typical of Schaft Creek. On the west side of the deposit, the mineralized intervals and grades would be less as seen in the drilling. DDH 432 and DDH435 tested the inferred blocks with thick intervals of mineralization… DDH 433 was the step out approximately 300m east of the current resource block model showing that the mineralization does extend to the east. I was very pleased with the 2013 assays.)

I was under the impression that there would be about 10,000 meters of drilling and we got results of around 3000 meters. ( yes due to later than anticipated start, bad grounds conditions which slowed drilling progress and weather conditions in October)

Are there more results yet to come from the 2013 campaign or is it complete? Please clarify and correct me if I was misinformed with anticipating about 10,000 meters of drilling.(no more assay results for 2013)

Other than what we may read from Teck's year end conference call and forward guidance regarding the Schaft Creek property (if any), what catalysts can we look forward to that could move our share price? (possible milestones could be; PEA on Van Dyke copper deposit in Arizona, drilling program on Van Dyke copper deposit, potential sale of interest in Schaft Creek, possible acquisitions)

I do not anticipate much now from Teck other than announcing a 2014 drill program. So do we wait another year while our share price continues its downward trend? (The overall resource section is considerably undervalued, not sure why? The fundamentals suggest a turnaround in the resource sector. Also if Copper Fox sells its interest in the Schaft Creek then the intention would be to distribute the proceeds of the sale to the shareholders)

I feel that I got caught up in the hype on this stock/property and was encouraged by earlier cost/lb estimates and the Salazar agreement that seemed to have us in a sweet spot.(yes and that was now almost 6 years ago. Operating costs have risen substantially, But Schaft Creek still has a low overall total cost and cost to produce a pound of copper net of other metal credits when compared to say Teck’s other operations. It mainly about the cost to produce a pound of copper)

2nd email

See comments in brackets below.

Regards

Elmer