Drilling Report

Immediate Release 4th April 2006 COPPER RESOURCES CORPORATION NEW MINERAL RESOURCE ESTIMATE REPORTED TO JORC-STANDARD AND AN EXCITING EXPLORATION TARGET IS HIGHLIGHTED AT 5.1% KINSENDA DEPOSIT LONDON, United Kingdom - 4 April 2006. FinOre Mining Consultants ("FinOre") of Perth, Australia have completed a new Mineral Resource estimate that upgrades previous estimates by Minière de Kinsenda et Musoshi sral ("MMK"), a 75%-owned Congolese (DRC) subsidiary of Copper Resources Corporation (AIM: CRC.L) ("CRC"), to "Measured and Indicated", as follows: Category Tonnes of Ore Cu% Cu Metal Measured 13,080,000 4.8% 632,000 Indicated 4.060,000 5.8% 234,500 Measured and Indicated 17,140,000 5.1% 866,500 The new FinOre Mineral Resource estimate is an important improvement in the Kinsenda resource picture because the earlier MMK estimates were not reported in accordance with the JORC or SAMREC Codes. In addition, FinOre has identified a significant exploration target, immediately to the south and southwest of the known Kinsenda resource, where drilling has intersected mineralization in a down faulted block. FinOre considers that this exploration target could contain between 10-15 million tonnes at a range of grades of 3% - 7% copper (0.3m tonnes to 1.0m tonnes of copper metal). It is important to note that this target area is still conceptual in nature and MMK will need to undertake further drilling to test the potential of this significant target. Two drill holes in the target area to-date show the highest grade intersections of the entire Kinsenda deposit, 8.3% and 8.5% copper having true widths up to 6m. Christopher Jordinson, CRC Chief Executive Officer stated: "The upgrade in the classification of Kinsenda resources to the Measured and Indicated categories and the simultaneous identification of the major new block exploration target is exciting news for CRC as it could potentially double the life of the Kinsenda mine at currently planned mining rates, or could allow a large increase in planned production." The FinOre Mineral Resource estimate has been reported according to the Australasian JORC and South African SAMREC Codes and is therefore suitable for public reporting. It was completed under the overall supervision and direction of Mr Gerry Fahey, who is a Competent Person under the JORC and SAMREC Codes, and who consents to the inclusion in this press release of the matters based on this information in the form and context in which they appear. In addition, the following Competent Persons were involved in preparing the FinOre estimate: --Mr Richard Holmes, FinOre Senior Consultant, responsible for the resource estimation and statistical analysis. --Dr Simon Dorling, CSA Senior Consultant responsible for the site visit due-diligence and geological interpretation work. --Mr Lynn Widenbar, Widenbar and Associates responsible for variography studies. FinOre, CSA and Widenbar and Associates are not shareholder in CRC or any associated party. Copper Resources Nabarro Wells & Co. Westhouse GTH Corporation Securities Communications Mitchell Alland Keith Smith Richard Morrison Toby Hall Executive Vice Chairman +44 (0) +44 (0) +44(0) +44 (0) 77 4801 8690 20 7710 7400 20 7601 6100 20 7153 8035 BACKGROUND: THE KINSENDA PROJECT FEASIBILITY STUDY The FinOre Mineral Resource estimate complements the recently prepared independent Feasibility Study by Mineral Engineering Technical Services Pty Ltd (METS), which concluded that operations at Kinsenda can be restarted within 18 months at an estimated capital cost of US$38 million. The projected financial return to CRC is highly favourable with an estimated IRR of 67% and NPV of US$143 million, at an assumed long term copper price of US$1.25/lb and a discount rate of 10%. The high financial rate of return reflects the extremely high grade of Kinsenda's reserves coupled with the project's low capital costs. The Feasibility Study assumes an annual treatment of 1.2 million tonnes of ore, resulting in production of 54,000 tonnes per annum of contained copper in the form of a rich, 45% concentrate at an average total cash operating cost of US$0.68/lb. The Kinsenda deposit will permit 13 years of operations at full capacity based on the current reserves. The Kinsenda and Musoshi deposits were mined from 1968-1983 by a Japanese mining consortium, then by Canadian management on behalf of the Zairian government from 1983-1987, and subsequently by Gecamines, a Congolese state mining company. Kinsenda and Musoshi are both currently flooded and require dewatering prior to restarting operations. A third property, at Lubembe, is a green field exploration play with high potential. The remaining 25% of MMK not owned by CRC is held 20% by SODIMICO, a state company, and 5% by the Forrest Group, the largest private business in Katanga and one of the largest in the DRC with diversified operations including mining, engineering, con-struc-tion, and cement. Operating successfully in the DRC since 1922, the Forrest Group has extensive operational and management experience in the country that will support and facilitate CRC's effort in developing the properties. The Feasibility Study was prepared by METS, a Perth-based (Australia) mining engineering consultancy firm that is not a shareholder in CRC or any associated party. It has been prepared on a professional basis using qualified and experienced engineers working in accordance with CRC's scope of work. METS's studies are recognized and accepted by financial institutions working in the resource sector.
UK 100

Latest directors dealings