Issue of Equity

Copper Resources Corporation
24 October 2007


24 October 2007

                             COPPER RESOURCES CORP

                                DEBT CONVERSION


Copper Resources Corp (AIM: CRC) ('the Company') announces that it has today
issued and allotted 5,025,873 common shares to L'Enterprise General Malta
Forrest SPRL ('the Forrest Group') as settlement for a loan of approximately
US$7.5 million made to Miniere de Musoshi et Kinsenda SARL ('MMK'), the
Company's 75% owned subsidiary in the Democratic Republic of Congo. This debt
conversion agreement had been entered into as part of the private placement
announced on 26 February 2007.

Application has been made to the London Stock Exchange for these common shares
to be admitted to trading on AIM on 30 October 2007.

Following this debt conversion, the total number of the Company's shares
currently in issue is 81,065,064. Also, as a result, the Forrest Group's holding
is increased to 29,243,464 common shares, equivalent to 36.07%.

Further to the announcement by Metorex Limited on 18 September 2007 that a
definitive, unconditional share purchase agreement ('SPA') was signed between
Metorex and the Forrest Group on 14 September 2007, the entire Forrest Group
holding of 29,243,464 common shares in the Company is expected to be transferred
to Metorex shortly, together with 4,049,929 options and warrants over CRC common
shares.


Enquiries:

 Copper Resources     Nabarro Wells & Co.   Fox-Davies Capital         GTH
   Corporation              Limited              Limited          Communications

 Mitchell Alland           Hugh Oram           Richard Hail         Toby Hall
  Executive Vice
     Chairman

[phone]  [phone]   [phone]  [phone]



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