For immediate release 1 July 2008

Stock Exchange Announcement

                         COPPER RESOURCES CORPORATION                          

                    US$15 million project finance facility                     

The Board of Copper Resources Corporation (AIM: CRC.L) (the "Company")
announces that further to the results announcement made on 30th June 2008,
which made reference to the provision by Metorex Limited of a short-term US$15
million project finance facility, the independent director of the Company, Mr
Robert Fischer, considers that the terms of this facility are fair and
reasonable insofar as the Company's shareholders are concerned, having
consulted with the Company's nominated adviser, Nabarro Wells & Co. Limited.

    Copper Resources      Nabarro Wells &    Fox-Davies            GTH        
       Corporation          Co. Limited   Capital Limited                     
                                                             Communications   
                                                                              
       Jeff Carel            Hugh Oram      Richard Hail        Toby Hall     
                                                                              
    Company Secretary                                                         
                                                                              
         +27 (0)              +44 (0)         +44 (0)            +44 (0)      
                                                                              
       11 803 1073         20 7710 7400     207 936 5200      20 7153 8035