Private Placement

For immediate release 15 November 2007

Stock Exchange Announcement

                         COPPER RESOURCES CORPORATION                          

                  £56.25 MILLION PRIVATE PLACEMENT OF SHARES                   

Copper Resources Corporation (AIM: CRC.L) ("CRC", the "Company") is pleased to
announce that the Company has placed 45,000,000 new common shares with Glencore
International AG ("Glencore") at 125 pence per share for total gross proceeds
of £56.25 million ("the Placing").

Glencore is a leading privately held, diversified natural resources company
with worldwide activities in the smelting, refining, mining, processing,
purchasing, selling and marketing of metals and minerals, energy products and
agricultural products.

The Placing is a major milestone for the Company as, in addition to acquiring a
strong strategic partner, it is now fully funded to:

 i. fast-track its Kinsenda copper restart project;
   
ii. complete a feasibility study at Musoshi, an underground copper mine, like
    Kinsenda, that has previously been operated; and
   
iii. start exploration at Lubembe, an advanced copper exploration project.
   
All three projects are located in the south of Katanga Province in the
Democratic Republic of Congo (DRC), where CRC holds a 75% interest through its
subsidiary, Minière de Musoshi et Kinsenda SARL ("MMK").

A portion of the funds will also be used for general corporate expenses and for
the completion of a new scoping study that will determine how to proceed with
the bankable feasibility study at the Company's Hinoba-an project in the
Philippines.

Following the Placing, Glencore's stake will represent 35.7% of the enlarged
share capital of CRC. However, the Board, acting through the Independent
Directors of the Company, has resolved that, for the reasons stated above, the
Placing is in the best interests of the Company and its shareholders and
accordingly has exercised the power reserved to it in the Company's articles of
association to waive the requirement for Glencore to extend an offer to the
holders of the remaining issued shares in the Company.

Application has been made for the newly issued common shares to be admitted to
the AIM market of the London Stock Exchange - trading is expected to commence
on 20 November 2007.

Following the Placing, CRC will have 126,065,064 common shares in issue.

    Copper Resources     Nabarro Wells &   Fox-Davies           GTH        
      Corporation          Co. Limited   Capital Limited                   
                                                           Communications  
                                                                           
    Mitchell Alland         Hugh Oram     Richard Hail       Toby Hall     
                                                                           
Executive Vice Chairman                                                    
                                                                           
        +44 (0)              +44 (0)     [phone]      +44 (0)      
                                              5200                         
      78 7569 5563        20 7710 7400                      20 7153 8035