Private Placement

Immediate Release                                                 30 March 2006

                         COPPER RESOURCES CORPORATION                          

                   US$7.7 MILLION PRIVATE PLACEMENT OF UNITS                   

 PROCEEDS TO BE USED FOR RESTART OF KINSENDA 5.3%-GRADE COPPER MINE IN KATANGA 
                               PROVINCE OF CONGO                               

LONDON, United Kingdom - 30 March 2006, Copper Resources Corporation (AIM:
CRC.L) ("CRC") is pleased to announce that it has placed 8,000,000 new Units
with investors at a price per Unit of 55 pence (US$0.97) for total proceeds of
£4.4 million (US$7.7 million). Each Unit consists of one common share plus
one-half of one warrant exercisable over a two-year period at a strike price of
75 pence. Two half-warrants are required to convert into one common share. The
common shares being issued will be admitted to the London AIM exchange on or
about 4 April 2006. Following their issuance, CRC will have 54,994,335 shares
issued and outstanding.

Proceeds of the private placement will be used for the planned restart of the
Kinsenda copper mine located in the Democratic Republic of Congo DRC). CRC
holds a 75% interest in the project through its subsidiary, Minière de Musoshi
et Kin-senda SARL (MMK). CRC intends to raise the balance of funds required for
the restart project by way of project debt to MMK and has initiated discussions
with interested banks. In order to prepare MMK for project financing CRC has
agreed with the Forrest Group (see below) that US$5.28 million of the latter's
loan outstanding to MMK will be eliminated and, since conversion into MMK
shares would seri-ously dilute CRC, the Forrest Group will instead, parallel to
the terms of the private place-ment, be issued an equivalent number of new CRC
shares at 55 pence plus, with each share, one-half of one warrant exercisable
over a two-year period at a strike price of 75 pence, with two half-warrants
required to convert into one common share. Once the procedures for
extinguishing US$5.28 million of the loan are completed CRC will issue
5,499,857 new shares to the Forrest Group, whose shareholding will remain at
the current 40%, and CRC will have 60,494,192 shares issued and outstanding.

The recently prepared independent Feasibility Study concluded 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 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 total cash operating cost of US$0.68/lb.
The Feasibility Study was prepared by Mineral Engineering Technical Services
Pty Ltd (METS), a Perth-based (Australia) mining engineering consultancy firm
that is not a shareholder in CRC or any associated party. It 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.

The Kinsenda and Musoshi deposits were mined from 1968-1983 by a Japanese
min-ing consortium, then by Canadian management on behalf of the Zairian
government from 1983-1987, and subsequently by Gecamines, a Congolese state
mining com-pany. 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 pot-ential.

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 lar-gest in the DRC with div-ers-ified operations including
mining, engineering, con-struc-tion, 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: "This private placement
financing will permit CRC to continue its dewatering and restart of the
Kinsenda mine. The project is extremely at-tractive 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."

 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