Drilling Production Update

22nd February 2006

   INDEPENDENT FEASIBILITY STUDY FOR CONGO PROJECT SHOWS 67% IRR WITH COPPER   
PRODUCTION OF 54,000 TPA STARTING IN 18 MONTHS FROM HIGH-GRADE KINSENDA DEPOSIT
                (5.3% COPPER) ON WHICH DEWATERING HAS COMMENCED                

                     COPPER RESOURCES CORPORATION ("CRC")                      

Mineral Engineering Technical Services Pty Ltd ("METS"), a Perth-based mining
engineering consultancy firm, has completed a Feasibility Study for the restart
of underground copper mining operations at the Company's Kinsenda copper
project located in Katanga Province of the Democratic Republic of Congo
("DRC"). CRC holds a 75% interest in the project through its subsidiary,
Minière de Musoshi et Kinsenda SARL ("MMK").

The Feasibility Study, which is based on MMK's Pre-feasibility Study and on
METS's own work, concludes 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 (5.3% copper) coupled with the project's low
capital costs.

The METS 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 cash operating cost of
US$0.68/lb.

The project is based on production of copper concentrates from the underground
Kinsenda mine using a conventional flotation process, and includes the
following elements:

  * dewatering, already underway, and then refurbishing the flooded mine;
   
  * refurbishing and relocating parts of MMK's existing concentrator equipment
    from Musoshi, another MMK property, to Kinsenda, a distance of 40 km; and
   
  * adding new equipment where required to complete and modernise the Kinsenda
    concentrator, which at full capacity will operate at the rate of 100,000
    tonnes per month.
   
On the basis of the currently planned configuration, the METS Feasibility Study
estimates total capital expenditure for the project in 2006-2007 at US$38
million, of which US$23 million is for the Kinsenda concentrator. The capital
expenditure is relatively low because the area has extensive infrastructure
including roads, water, staff accommodation and power. The power infrastructure
includes a 220/110 kVA line to both Kinsenda and Musoshi; there is also a
substation at Musoshi and Kinsenda with diesel generators for back up if
required.

In the feasibility study METS has developed a revised flowchart and recommends
that CRC and MMK consider the implementation of semi-autogenous grinding (SAG)
with process control as an alternative comminution circuit, which would have
the benefit of simplifying the processing circuit and reducing the capital
expenditure as well as operating costs. CRC and MMK are currently reviewing
these possibilities to reduce project cost and increase efficiency.

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, construction, 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 Kinsenda deposit has 15 million tonnes of ore containing 840,000 tonnes
(1.9 billion pounds) of copper, which will permit 13 years of operations at
full capacity based on the currently known resource. However, the mine is open
at depth and additional drilling is expected to yield more proven resources
that will extend the life of the mine considerably.

Mitchell Alland, CRC Executive Vice Chairman, stated: "The Kinsenda project is
extremely attractive to CRC not only because of its high return but also
because it transforms us into an imminent copper producer, and provides the
basis for further expansion of our DRC production from our other high-grade
deposits at Musoshi and Lubembe. We can look forward to CRC becoming a
significant producer in the Congo that will increasingly contribute to the
country's economy and to that of Katanga Province."

METS is an independent mining engineering consultancy that is not a shareholder
in CRC or any associated party. The Feasibility Study 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.

- ENDS -

Further information:

 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