Drilling Report

0700hrs 7th February 2006

                     COPPER RESOURCES CORPORATION ("CRC")                      

COMPLETION OF 25% OF HINOBA-AN (PHILIPPINES) INFILL DRILLING PROGRAMME POINTS 
                      TO 10% IMPROVEMENT IN OVERALL GRADE                       

                     COPPER RESOURCES CORPORATION ("CRC")                      

Highlights

The 15 holes thus far completed of the infill drilling programme on the DJ
Por-phyry Copper Deposit, which represent almost 25% of the total of 62 to be
drilled, were chosen to test the central portion of the deposit containing the
best copper grades. Assay results show that:

  * mineralisation continuity and limits along completed sections generally
    confirms results of the 1998 scoping study;
   
  * top of mineralisation is at a depth of 6-9 metres, which is an improvement
    on the results of the scoping study in which the first 15 metres below the
    surface was discounted and not assayed;
   
  * overall improvement in the scoping study grades in the vicinity of the new
    holes could be in the order of 10%, which will be verified by modelling and
    resource estimations when approximately half the programme is completed in
    approximately six weeks; and the entire infill drilling programme is
    expected to be completed by the end of May.
   
Drilling Results

Final assay results have now been received for holes CDD-005 to CDD-014 and
CDD-016, with approximately 25% of the planned programme of 62 holes now being
completed. Intersections from these holes, in addition to those from holes
CDD-001 to CDD-004 as released earlier are listed in Table 1 below.

These holes have been collared near the centre of the DJ Porphyry Copper
Deposit, and are part of a programme of 11,800m in 62 holes designed to infill
the 59,000 metres of earlier drilling. The holes are being drilled at 50m
centers along grid east-west section lines intermediate to the 100m spaced
lines of previous workers, to give a final drillhole spacing of approximately
50m x 50m

One of the purposes of the current drilling is to confirm the continuity,
limits and grade of mineralisation as interpreted from previous work. To date
drilling has been completed on two cross sections, 1550N and 1650N, both
located near the centre of the DJ mineralisation, with drilling continuing on
adjacent sections.

The results from holes on the completed sections support the interpretations of
previous work, confirming that the western and eastern margins of the system
are diffuse with a gradual reduction in copper grade, with the base of the
mineralisation being faulted and exhibiting a sharp grade cut-off. Copper
grades within the porphyry mineralisation exhibit good continuity.

A preliminary analysis indicates that generally Cu assay results are at least
as good as, and in some cases an improvement on calculated grades on these
sections. It is possible that the resource grade may be increased by up to 10%,
however no definite conclusion can be made until modelling and preliminary
grade estimation work is carried out when approximately half the drilling
programme is completed.

More notable intersections in the current programme include 207m at 0.50% Cu
from 3m in hole CDD-001, 165m at 0.49% Cu from surface in hole CDD-004, 189m at
0.55% Cu from 9m in hole CDD-007, 210m at 0.45% Cu from 6m in hole CDD-008 and
174m at 0.50% Cu from 3m in hole CDD-010.

Previous work on the deposit generally discounted the top 15 metres, with
assaying generally not being carried out in this zone. One of the aims of the
current work programme is to ascertain the potential of this zone; the latest
results indicate that from approximately six to nine metres below the surface
mineralisation is present and continuous.

Table 1: Cu Intersections

Hole             Interval     Length     Cu%   
                                               
CDD-001(1)      3m to 210m      207      0.50  
                                               
  including(2)  24m to 39m      15       0.86  
                                               
  including(2)  45m to 60m      15       0.65  
                                               
  including(2) 156m to 171m     15       0.73  
                                               
  including(2) 177m to 195m     18       0.63  
                                               
CDD-002(1)      6m to 141m      135      0.44  
                                               
  including(2)  57m to 96m      39       0.71  
                                               
CDD-003(1)      9m to 126m      117      0.45  
                                               
CDD-003(1)     144m to 174m     30       0.33  
                                               
CDD-004(1)      0m to 165m      165      0.49  
                                               
  including(2)   3m to 30m      27       0.70  
                                               
  including(2)  51m to 66m      15       0.61  
                                               
  including(2) 111m to 153m     42       0.62  
                                               
CDD-005(1)       9m to 66m      57       0.46  
                                               
CDD-005(1)      78m to 219m     141      0.44  
                                               
  including(2)  87m to 153m     66       0.51  
                                               
  including(2) 162m to 177m     15       0.53  
                                               
CDD-006(1)      15m to 54m      39       0.83  
                                               
  including(2)  15m to 51m      36       0.87  
                                               
  including(3)  15m to 21m       6       1.81  
                                               
CDD-006(1)      69m to 204m     135      0.47  
                                               
  including(2)  69m to 99m      30       0.55  
                                               
  including(2) 171m to 189m     18       0.62  
                                               
CDD-007(1)      9m to 198m      189      0.55  
                                               
  including(2)   9m to 27m      18       0.66  
                                               
  including(2)  39m to 96m      57       0.61  
                                               
  including(2) 120m to 183m     63       0.66  
                                               
CDD-008(1)      6m to 216m      210      0.45  
                                               
  including(2)   6m to 27m      21       0.67  
                                               
  including(2)  39m to 57m      18       0.54  
                                               
  including(2) 108m to 123m     15       0.60  
                                               
  including(2) 159m to 192m     33       0.51  
                                               
CDD-009(1)      15m to 108m     93       0.26  
                                               
CDD-009(1)     141m to 189m     48       0.24  
                                               
CDD-010(1)      3m to 177m      174      0.50  
                                               
  including(2)   3m to 30m      27       0.65  
                                               
  including(2)  48m to 93m      45       0.67  
                                               
  including(2) 105m to 132m     27       0.56  
                                               
CDD-012(1)       3m to 63m      60       0.45  
                                               
  including(2)   3m to 36m      33       0.58  
                                               
CDD-012(1)      72m to 114m     42       0.47  
                                               
CDD-013(1)       3m to 57m      54       0.53  
                                               
  including(2)   6m to 27m      21       0.71  
                                               
CDD-014(1)      42m to 78m      36       0.30  
                                               
CDD-016(1)       6m to 66m      60       0.40  
                                               
CDD-016(1)      99m to 141m     42       0.46  
                                               
  including(2) 111m to 141m     30       0.54  

(1) Calculated using a 0.20% Cu cutoff

(2) Calculated using a 0.50% Cu cutoff

(3) Calculted using a 1% Cu cutoff

Future Programme

The Bankable Feasibility Study which sets out a programme of 62 holes to a
maximum depth of 300m is on schedule to be completed by December 2006.

This press release is based on information compiled by Mr. Mark Gordon, a full
time employee of CRC and a Member of the Australasian Institute of Mining and
Metallurgy who qualifies as a Competent Person as defined in the 2004 edition
of "The Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves". Mr. Gordon has given consent to the inclusion in
this press release of matters based on this information in the form and context
in which they appear.

Aged 49, Mr. Bru has over 20 years wide-ranging experience in finance and
account-ing in a variety of industries in Australia, Asia and Africa. Mr. Bru
is conversant in both English and

Chris Jordinson, CRC's CEO, stated: "Elia Crespo has done an excellent job, but
with projects in Congo, Namibia and the Philippines, the time difference

For further information please contact:

   Copper Resources      Nabarro Wells &       Westhouse             GTH       
      Corporation              Co.            Securities       Communications  
                                                                               
    Mitchell Alland        Keith Smith     Richard Morrison       Toby Hall    
                                                                               
Executive Vice Chairman                                                        
                                                                               
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