Global Copper Corp.
TSX : GLQ

Global Copper Corp.

May 11, 2006 16:59 ET

Global Copper Corp. Options San Jorge to Coro Mining

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 11, 2006) - Global Copper Corp. ("Global") (TSX:GLQ) is pleased to announce that it has signed a binding letter of intent to option its 100% owned San Jorge property located in Mendoza province, Argentina to Coro Mining Corp. ("Coro"), a Vancouver based mining and development company managed by former members of the First Quantum senior management team.

The San Jorge property hosts a porphyry copper/gold deposit containing a Historic Measured and Indicated Resource of 361 million tonnes at 0.39% copper and 0.18 g/t gold and a Historic Inferred Resources of 64 million tonnes at 0.30% copper and 0.11 g/t gold at a 0.2% copper cutoff as previously disclosed in a news release on November 21, 2003. Global considers these resource estimates to be relevant and reliable.

Coro will pay Global US$1 million and issue 1 million shares of Coro stock over the next two years to maintain the option. Upon the completion, within 3 years of signing the agreement, of a bankable feasibility study on the leachable copper resources at San Jorge, Coro will pay to Global US$0.025 per pound of contained leachable copper in the proven and probable reserve category defined by the feasibility study. Upon completion of a bankable feasibility study on the sulphide copper resources at San Jorge, Coro will pay to Global US$0.02 per pound of contained sulphide copper in the proven and probable reserve category defined by the feasibility study. In addition, Coro will pay to Global US$0.02 per pound of contained leachable copper and US$0.015 per pound of contained sulphide copper for any additional material not defined in the feasibility studies.

Additional information on the San Jorge property and the AMEC 43-101 Technical Report dated September 5, 2003 can be found at www.globalcoppercorp.com.

GLOBAL COPPER CORP.

David Strang, President & CEO

CAUTION REGARDING FORWARD-LOOKING STATEMENTS:

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such forward-looking statements, including but not limited to those with respect to the price of copper, gold and molybdenum, the timing and amount of future production, metallurgical recoveries, costs of production, reserve and resource determination and reserve conversion rates, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks relating to the integration of acquisitions, risk relating to international operations, risks relating to joint-venture operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project and exploration parameters as plans continue to be refined, future prices of copper, gold and molybdenum. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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