CRC.L Regulatory News (CRC)

5 Sep 2006 07:00

Immediate Release 5 September 2006 COPPER RESOURCES CORPORATION GOLD MINERALISATION DISCOVERED AT HINOBA-AN COPPER PROJECT IN THE PHILIPPINES LONDON, United Kingdom - 5 September 2006.Assay results of cores from the recently completed geotechnical drillingprogramme at the Hinoba-an Copper Project of Copper Resources Corporation (AIM:CRC.L) ("CRC", "the Company") confirm gold-bearing mineralisation. Theseresults indicate the potential for a significant gold system to the northeastof the main porphyry copper mineralisation at Hinoba-an.Geotechnical drilling for the copper project at the northeast wall of theproposed Don Jose ("DJ") open pit, intersected several intrusive dacites(silica-rich igneous rocks) and associated hydrothermal breccias (rocks brokenby hot fluids). These rocks represent the feeder zone for dacitic and rhyolitic(more silica-rich) volcanic rocks that represent the last phase of volcanism inthe belt (circa 13 million years). These late-stage volcanic events are oftenassociated with metal-rich fluids, which represent the last phase of volatilerelease from the underlying magmas. It is these fluids that often cause thebrecciation, or else percolate through a pre-existing breccia and depositmetals, including base metals, gold and silver.Mark Gordon, CRC's Chief Geologist, interpreted that these units aresub-vertical, and trend NW-SE, that is, parallel to the trend of the porphyrycopper deposit. The mineralisation is adjacent to the intersection of aNW-trending structural zone and a SW-trending structural zone. The SW structureextends to the Bulawan Gold Project, which is located at the intersection ofthis and another NW trending zone 5km to the southwest of DJ. The Bulawanproject, which is also hosted in a similar age dacitic complex, produced some300,000 ounces of gold before being put onto care and maintenance in 2002, dueto low gold prices.Significant results show gold grades up to 1.9 g/t, and include the following:Hole CDG-012 * 85m to 107m - 22m @ 0.35 g/t (0.1g/t cutoff), including 6m @ 0.9g/t from 92m (0.5 g/t cutoff, peak value 1.4 g/t) * 142m to 161m - 19m @ 0.18 g/t (0.1 g/t cutoff), including 4m @ 0.38 g/t from 147m Hole CDG-013 * 99m to 101m - 2m @ 0.506 g/t (0.1g/t cutoff) Hole CDC-014 * 27m to 29m - 2m @ 1.1g/t (0.1g/t cutoff), including 1m @ 1.9 g/t (1.0g/t cutoff) * 128m to 132m - 4m @ 0.11 g/t (0.1 g/t cutoff) The geotechnical drilling programme included 17 holes for 1976.5 metres, ofwhich seven intersected rocks associated with the dacitic intrusive complex andthree returned significant gold assays.As the geotechnical drill holes were drilled at a spacing of 200 metres, asrequired for the bankable feasibility study (BFS) for the copper project, andhave not covered the full extent of the area considered prospective for goldmineralization, there is significant potential for the area to host a majorgold system. CRC will embark on a 50x50 metre drilling programme to ascertainthe extent of the mineralization and contained gold. The latter grid will bringthe new gold drilling up to a BFS standard as well. CRC will use the drill rigstill at site to complete this programme.Chris Jordinson, CEO of CRC, stated, "The substantial gold discovery isexciting, as it has the potential for increasing the returns and the Hinoba-anproject economics to a very attractive level."This press release is based on information compiled by Mark Gordon, a fulltimeemployee 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 & Hanson GTH Corporation Co. Westhouse Communications Mitchell Alland Jonathan Naess Richard Morrison Toby Hall Executive Vice Chairman +44 (0) +44 (0) +44(0) +44 (0) 78 7569 5563 20 7710 7400 20 7601 6100 20 7153 8035 ENDSCOPPER RESOURCES CORPORATION