CRC.L Regulatory News (CRC)

18 Jul 2006 07:00

Embargoed: 7am - 18th July 2006 COPPER RESOURCES CORPORATION COMPLETION OF INFILL DRILLING PROGRAMME POINTS TO COPPER GRADE INCREASE AND SETS STAGE FOR BANKABLE FEASIBILITY STUDY AT HINOBA-AN PROJECT IN THE PHILIPPPINES Copper Resources Corporation (AIM: CRC.L) ("CRC"), has completed an infilldrilling programme of 51 holes for 10,906 metres at its Hinoba-an property inthe Philippines. The results of the drill programme confirm the continuity andlimits of the resource while indicating an increase of up to 10 per cent of the0.46% copper grade.The completed programme covers the central 900-metre strike-length, containingapproximately 90 million tonnes of the previously defined resource in a 50x50metre grid. In addition, the existence of primary mineralisation in thepreviously discounted top 15 metres of the deposit has been confirmedthroughout the drilled area, increasing the contained metal of the resource.This newly confirmed primary mineralisation is attractive as it can beprocessed in the same way as the rest of the ore from the deposit.Having finished the infill drilling program, CRC is now able to complete areinterpretation of the geology and a revised resource estimate, which will beverified by an independent geological consultant. The new resource estimate isexpected in August.In continuing the Bankable Feasibility Study (BFS), CRC has appointed thefollowing consultants: * Coffey Mining of Melbourne, Australia to undertake a 18-hole, 2,280 metre geotechnical drilling, which will be completed in July, and data analysis, domaining and pit-wall design; * Ray Cantrell, an independent metallurgical consultant, of Brisbane, Australia, to design a metallurgical test programme that is being carried out at the site; * Metcon of Sydney, Autralia and Orway Minerals Consultants of Perth, Australia, a subsidiary of Lycopodium Limited, to carry out flotation work and comminution test work, which will be used in the process definition and design; and * Resource Strategies Pty Limited, of Brisbane, Australia, an environmental consulting company with extensive experience in the Philippines, to prepare the Environmental Impact Statement and validate the Company's Environmental Management and Operating Plan, with the separate studies to be carried out as far as possible by Philippine environmental consultants. Chris Jordinson, CEO of CRC stated:"With the completion of infill drilling, CRC is now able to complete the BFSbefore mid-2007."This press release is based on information compiled by Mark Gordon, a full timeemployee of CRC and a Member of the Australasian Institute of Mining andMetallurgy, who qualifies as a Competent Person as defined in the 2004 editionof 'The Australasian Code for Reporting of Exploration Results, MineralResources and Ore Reserves'. Mr. Gordon has given consent to the inclusion inthis press release of matters based on this information in the form and contextin which they appear. Copper Resources Nabarro Wells & Co. Westhouse GTH Corporation Securities Communications Mitchell Alland Jonathan Naess Richard Morrison Jade Mamarbachi Executive Vice Chairman +44 (0) +44 (0) +44(0) +44 (0) 78 7569 5563 20 7710 7400 20 7601 6100 20 7153 8035 Infill Drilling ProgrammeThe following table lists the more significant intersections outlinedsubsequent to the press release of February 7 2006.Hole From To Length Copper Cutoff (m) (m) (m) (%) (%) CDD-015 6.00 27.00 21 0.48 0.2 CDD-015 39.00 135.00 96 0.36 0.2 Inc: 54.00 75.00 21 0.57 0.5 CDD-015 150.00 219.00 69 0.40 0.2 Inc: 177.00 204.00 27 0.54 0.5 CDD-023 0.00 177.00 177 0.50 0.2 Inc: 0.00 21.00 21 1.04 0.5 Inc: 39.00 78.00 39 0.52 0.5 Inc: 102.00 120.00 18 0.55 0.5 CDD-024 15.00 66.00 51 0.44 0.2 CDD-024 96.00 144.00 48 0.35 0.2 CDD-024 159.00 240.00 81 0.53 0.2 Inc: 183.00 231.00 48 0.68 0.5 CDD-026 3.00 18.00 15 0.60 0.2 CDD-026 27.00 84.00 57 0.53 0.2 Inc: 30.00 48.00 18 0.65 0.5 CDD-026 120.00 168.00 48 0.43 0.2 Inc: 138.00 153.00 15 0.68 0.5 CDD-027 0.00 105.00 105 0.47 0.2 Inc: 21.00 48.00 27 0.51 0.5 Inc: 81.00 96.00 15 0.80 0.5 CDD-029 3.00 141.00 138 0.54 0.2 Inc: 45.00 138.00 93 0.57 0.5 CDD-030 9.00 186.00 177 0.53 0.2 Inc: 12.00 39.00 27 0.65 0.5 Inc: 57.00 84.00 27 0.68 0.5 Inc: 93.00 123.00 30 0.60 0.5 Inc: 147.00 174.00 27 0.57 0.5 CDD-030 195.00 261.00 66 0.45 0.2 Inc: 198.00 216.00 18 0.59 0.5 CDD-032 129.00 204.00 75 0.48 0.2 Inc: 135.00 153.00 18 0.57 0.5 CDD-033 6.00 72.00 66 0.46 0.2 CDD-035 3.00 207.00 204 0.56 0.2 Inc: 3.00 27.00 24 0.79 0.5 Inc: 60.00 87.00 27 0.66 0.5 Inc: 96.00 120.00 24 0.76 0.5 CDD-039 12.00 51.00 39 0.76 0.2 Inc: 12.00 27.00 15 1.10 0.5 CDD-039 90.00 156.00 66 0.50 0.2 Inc: 126.00 147.00 21 0.76 0.5 CDD-040 3.00 36.00 33 1.00 0.2 Inc: 3.00 30.00 27 1.14 0.5 CDD-041 27.00 129.00 102 0.43 0.2 Inc: 45.00 60.00 15 0.55 0.5 CDD-042 3.00 30.00 27 0.56 0.2 Inc: 3.00 24.00 21 0.64 0.5 CDD-042 48.00 120.00 72 0.62 0.2 Inc: 48.00 114.00 66 0.64 0.5 CDD-043 3.00 45.00 42 0.44 0.2 Inc: 6.00 24.00 18 0.76 0.5 CDD-043 54.00 105.00 51 0.43 0.2 CDD-044 6.00 84.00 78 0.51 0.2 Inc: 30.00 81.00 51 0.60 0.5 CDD-044 96.00 228.00 132 0.43 0.2 Inc: 102.00 132.00 30 0.63 0.5 CDD-045 9.00 108.00 99 0.55 0.2 Inc: 9.00 81.00 72 0.59 0.5 CDD-046 9.00 141.00 132 0.53 0.2 Inc: 9.00 87.00 78 0.59 0.5 Inc: 126.00 141.00 15 0.62 0.5 CDD-047 6.00 27.00 21 0.48 0.2 CDD-047 60.00 117.00 57 0.44 0.2 CDD-051 12.00 90.00 78 0.48 0.2 Inc: 12.00 66.00 54 0.59 0.5 All intersections calculation using a minimum 15 down-hole intersection, with amaximum 9m internal dilution unless noted.COPPER RESOURCES CORPORATION