Cooper Minerals Inc.

Cooper Minerals Inc.

December 03, 2007 07:00 ET

Cooper Minerals Identifies More High Grade Gold Values Near Terra Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - Cooper Minerals Inc. (TSX VENTURE:CQ)(FRANKFURT:JM6) ("Cooper Minerals" or the "Company") is pleased to announce that it continues to receive significant precious metal and base metal values near its Terra iron-oxide-copper-gold (IOCG) project in the Great Bear Lake Magmatic Zone, 430 kilometres north of Yellowknife in the Northwest Territories. Cooper Minerals, holding 480,000 acres, is the largest public company landholder in the area. Simon Tam, president of Cooper Minerals, says, "We are extremely pleased that we are finding much more gold than expected in our IOCG mineralization."

High-grade gold, copper and silver mineralization was sampled on the TUT claims, which is located approximately 40 km north of the Company's Terra camp and is adjacent to the north boundary of Alberta Star's Eldorado property. At least 1.5 kilometres of the structure, which hosted the Eldorado uranium mine and the Echo Bay silver mine, is present within Cooper Minerals' TUT claims. Historical production from the Eldorado and Echo Bay Mines totals 13,720,000 lbs. U3O8 and 33,525,346 ounces of silver (source: Strand 1986).

Assays of surface samples ranged from 48.7 g/t (1.40 oz gold/ton) to less than 1 g/t gold, 3.97% to less than 0.01% copper, and 235 g/t to 4 g/t silver. The assay results for 14 grab samples which were collected during a limited prospecting program are as follows:

Silver Copper
Sample Location ppm % Gold ppm
E07-008 Gossan, east end, relatively massive 235.0 0.00 less than 1
E07-009 raspberry hill top, gossan with up
to 30% pyrite 51.0 0.06 less than 1
E07-010 mid raspberry hill, minor quartz veining 31.0 0.00 less than 1

E07-011 altered volcanics, quartz veining,
near Sparkplug Lake 27.0 0.41 5
E07-012 altered volcanics, minor brecciation,
near Sparkplug Lake 93.0 0.24 less than 1
E07-013 altered volcanics, massive, near
Sparkplug Lake 24.0 0.00 less than 1

E07-014 altered volcanics, quartz veining,
near Sparkplug Lake 36.0 0.13 less than 1
E07-015 altered volcanics, quartz veining,
near Sparkplug Lake 13.6 0.06 less than 1

E07-016 shaft near sparkplug lake, quartz vein 26.0 3.97 48
E07-017 shaft near sparkplug lake, altered
volcanics 16.0 1.57 21
E07-018 shaft near sparkplug lake, massive
altered volcanics 6.8 0.03 less than 1

E07-019 near Sparkplug Lake 6.0 0.01 less than 1
E07-020 near Sparkplug Lake 3.9 0.00 less than 1
E07-021 near Sparkplug Lake 4.8 0.00 less than 1

The samples represent gossans and altered and brecciated volcanics with narrow (less than 3cm) quartz veining and brecciation from within a zone of conjugate faulting and brecciation (as mapped by Hildebrand 1982) that extends approximately 6 to 7 kilometres northeast directly from the past producing Eldorado and Echo Bay Mines to Cooper Minerals' recently identified mineralization. High-grade values are found in quartz veins and in altered volcanic rocks.

Geological and structural settings for the high-grade gold, copper and silver results at the TUT claims are similar to those recently reported from the Terra Property (please refer to recent Company news releases at

Gossans and extensive quartz veining and brecciation in conjunction with penetrative alteration of volcanics is estimated to be approximately 1.5 km long and at least 400 metres wide within Cooper Minerals' TUT claims. The altered volcanics that host the mineralization are in contact with felsic intrusives.

The Olympic Dam (in Australia) or IOCG model is proposed as a significant exploration target on Cooper Minerals' properties in this part of the Great Bear Magmatic Zone. These polymetallic targets have the potential to host billions of tonnes of copper, gold and uranium mineralization (Olympic Dam type). The resource at the Olympic Dam deposit (owned by BHP Billiton) was recently increased to 7.7 billion metric tonnes grading 0.87 per cent copper, 0.29 kilogram per tonne uranium oxide, 0.30 gram per tonne gold and 1.61 grams per tonne silver. The Olympic Dam deposit is the largest uranium deposit in the world, the fourth-largest copper deposit and the fifth-largest gold deposit.

Mike Magrum, P.Eng., a qualified person under National Instrument 43-101, has approved the technical content of this news release.

On behalf of the Board of Directors,

Simon Tam, President and Director

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward looking statements that are not historical facts and are subject to risks and uncertainties which could cause actual results to differ materially from those set forth in or implied herein.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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