RE: ? for Vette: N. Claims vs. Teck Back-InFrom the Sep 07, 2011 NR on the $3m PP, read the last sentence;
Copper Fox holds title and a 100% working interest in a contiguous 24,003.5 hectare (59,311 acre) property which includes the Schaft Creek deposit subject to certain royalty agreements, a 30% carried interest held by Liard Copper and an earn back option held by Teck Resources Limited ("Teck"). Copper Fox is currently earning a 78% interest in Liard Copper from Teck. Teck's earn back option to acquire 20%, 40% or 75% of the Copper Fox interest in the Schaft Creek project is triggered upon completion of a positive feasibility study. Should Teck elect to exercise its option for 75% they are required to fund subsequent property expenditures up to a total of 400% of those incurred by Copper Fox ($61.8 million as of June 30, 2011) and arrange for project financing, including the Copper Fox portion. For full details of the option please refer to the Company's website
www.copperfoxmetals.com.
Additionally Copper Fox holds mineral claims totaling 3,947 hectares (9,752 acres) in the Liard Mining District of BC not subject to the Teck earn-back.