Hinoba-an (Philippines) drilling update

31 Oct 2005 09:10

For immediate release: 31st October 2005 DRILLING RESULTS FROM FIRST TWO HOLES OF HINOBA-AN (PHILIPPINES) INFILL DRILLING PROGRAMME COPPER RESOURCES CORPORATION ("CRC") HighlightsAssay results from the first two holes of the infill drilling programme on theDJ Porphyry Copper Deposit show: * indications of mineralisation in the top 15 metres, a zone discounted in previous studies; * support for the conclusions of previous work below 15 metres; and * possible improvement in the previously interpreted grades in the vicinity of the new holes, based on preliminary analysis. Drilling ResultsPartial assay results have been received for holes CDD-001 and CDD-002, withthe results as follows. These holes were collared near the centre of the DJPorphyry Copper Deposit, and are part of a programme of 62 holes designed toinfill the 59,000 metres of earlier drilling.Hole Interval Length (m) Copper % CDD-001(1)(2) 3m to 96m 93 0.50 Including(3) 24m to 39m 15 0.86 Including(3) 45m to 60m 15 0.65 CDD-002(2)(4) 6m to 141m 135 0.44 Including(3) 57m to 96m 39 0.71 (1) Results received to 96m(2) Calculated using a 0.20% Cu cutoff(3) Calculated using a 0.50% Cu cutoff(4) Results received to 195mResults for hole CDD-001 include the interval 0 to 96 metres out of a totallength of 250.9 metres, and for hole CDD-002 the interval is 0 to 195 metresout of a total length of 217.9 metres. The balances of these holes arecurrently being assayed.The results from both holes support previous work, and a preliminary analysisindicates that calculated grades may be improved in the vicinity of the holes.Previous work on the deposit generally discounted the top 15 metres, asassaying generally was not carried out in this zone. One of the aims of thecurrent work programme is to ascertain the potential of this zone; the latestresults indicate that mineralisation is present in the top 15 metres in bothholes.Future ProgrammeThe Bankable Feasibility Study ("BFS") sets out a programme of 62 holes to amaximum depth of 300m. The BFS is on schedule to be completed by December 2006.In so far as it relates to mineralisation within CRC's Hinoba-an deposit, thispress release is based on information compiled by Mr. Mark Gordon, a Member ofthe Australasian Institute of Mining and Metallurgy who qualifies as aCompetent Person as defined in the 2004 edition of "The Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves". Mr.Gordon has given consent to the inclusion in this press release of mattersbased on this information in the form and context in which they appear.For further information on this release and Copper Resources Corporation pleasecontact:Copper Resources CorporationMitchell Alland,Executive Vice Chairman+44 (0) 787 569 5563Nabarro Wells & CoKeith Smith orJohn Robertson+44 (0) 20 7710 7400Westhouse Securities LLPCailey Barker+44 (0) 20 7601 6100Additional information is available from the Company's website www.copperresources.com or from Westhouse Securities LLPAIM Code: CRC.LSEIssued Capital: 27,876,601 sharesCash Backing: ‚£0.33/shareENDCOPPER RESOURCES CORPORATION