For immediate release 3 October 2008

Stock Exchange Announcement

                         COPPER RESOURCES CORPORATION                          

                     Increase in project finance facility                      

The Board of Copper Resources Corporation (AIM: CRC.L) (the "Company")
announces that the project finance facility made by Metorex Limited
("Metorex"), which was announced within the year end results announcement on 30
June 2008, has been increased by US$5 million on the same terms, to a total of
US$20 million.

The terms under a default scenario include a conversion (together with interest
thereon) into such number of new CRC shares as have a value of not less than
the amount outstanding under the 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.

Enquiries:

    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