Mineral Production Sharing Agreement Approved

15th August 2005

                         COPPER RESOURCES CORPORATION                          

                           ("CRC" or "the Company")                            

 
            MINERAL PRODUCTION SHARING AGREEMENT ("MPSA") APPROVED             

CRC whose principal asset is the Hinoba-an Copper Project in the Philippines,
which is held through its associated company Colet Mining and Development
Corporation, has had its MPSA approved by the Philippine government.

CRC will now commence its infill drilling programme which forms part of the
Bankable Feasibility Study. CRC looks forward to completing the Bankable
Feasibility Study which should confirm the economics and subsequently enable
development of the project.

Mr Jordinson the Chief Executive Officer of CRC said "We are delighted that the
MPSA has been approved which is a result of the Philippine Government's
positive stance on mining and we are now able to commence the work programme".

For further information please contact:

     Copper Resources         Nabarro Wells & Co.       Westhouse Securities   
                                                                               
     Mitchell Alland              Keith Smith              Cailey Barker       
 Executive Vice Chairman                                                       
                                                                               
   [phone]        [phone]       [phone]    


                         Background Information on CRC                         

CRC is the ultimate holding company of a group of mineral exploration,
development and operating companies. The Group effectively has a 92.5 per cent
economic interest in the Hinoba-an Porphyry Copper Project (the "Project"),
subject to a 3 per cent net benefits royalty payable to the original claim
owner. The Project is located on the island of Negros in the Republic of the
Philippines, approximately 700 km south of Manila.

The Group's interest in the Project is held under an Integrated Mining and
Operating Agreement with Colet Mining and Development Corporation, which holds
mining leases over 90 hectares and approximately 2,900 hectares of mineral
claims (collectively, the "Colet Claims"). The Colet Claims cover two known
porphyry copper deposits, the Don Jose deposit and the A1 deposit, which
comprise the Hinoba-an property.

Over the years, a significant amount of exploration and metallurgical testwork
has been performed on the Hinoba-an property with its previous owners having
spent approximately C$14.7 million. The Hinoba-an property has been subject to
approximately 48,000 metres of diamond drilling and 11,000 metres of reverse
circulation drilling. Pre-feasibility studies indicate that the two deposits
are well drilled and that all due attention has been paid to core handling,
sampling and assaying.

A scoping study undertaken in 1998 envisioned a 15 year mine life for the Colet
Claims based on a geological resource of 254 million tonnes at 0.46 per cent
copper at a 0.30 per cent copper cut-off. The study showed that the deposits
could be profitably mined by open pit method with the ore processed in a
conventional flotation milling operation to produce approximately 2 billion
pounds of recoverable copper and other by-products. Annual production was
estimated at 56,000 tonnes of recoverable copper with an average cash cost
(including smelting, refining and by-product credits) of US$0.48/lb of copper.

The Company will complete additional infill core drilling on the property and a
feasibility study within the next 18 months. Upon completion of the feasibility
study, and assuming favourable economics, the Group plans to develop a
potential 15 million tonnes per annum open pit copper mine on the Hinoba-an
property. The development of the Project will be dependent on obtaining future
financing.

In addition, the CRC Group owns 23 unpatented lode claims covering
approximately 186 hectares in the state of Colorado. The copper deposit on the
property has historically been mined as an underground operation. The Group
commenced an initial exploration drilling programme in early August 2005.