Global Copper Corp.

Global Copper Corp.

April 30, 2008 15:14 ET

Global Copper Reports 9 Additional Drill Holes and Acquires Surface Right and Additional Mineral Rights at Relincho

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Global Copper Corp. (Global) (TSX:GLQ) is pleased to announce results from a further nine holes in the sulphide drilling program at its Relincho copper-molybdenum project in Chile. Results are highlighted by step-out hole RG06-217 that returned 220 meters grading 0.77% copper and 0.050% molybdenum (1.07% copper equivalent(ii)) including 76 meters grading 1.20% copper and 0.091% molybdenum (175% copper equivalent(ii)).

The latest batch of drill holes represent a mix of step-out and infill drill holes designed to expand the margins of the Las Guias zone as well as test for continuity within the defined zone of copper-molybdenum mineralization.

Copper-molybdenum mineralization occurs over wide intervals in every hole with higher grades characteristically associated with the contact zone of the porphyry intrusive at Las Guias. There is insufficient geological information to calculate true widths of drill intercepts.

The assay results from the nine new holes are shown in the table below. A map is provided to show the location of the drill holes.

(i) Order (i) Pre-
Sulphide Collar
Holes Hole From To Int. Cu Mo CuEq
Completed Number (m) (m) (m) (%) (%) %(i)(i) Comment
81 RG07-217 38 62 24 0.78 0.011 0.84 Step out hole
and 260 320 60 0.44 0.066 0.83 drilled on the
and 470 692 222 0.77 0.050 1.07 southern margin
incl. 486 562 76 1.20 0.091 1.75 of Las Guias,
and 764 788 24 0.59 0.018 0.70 100m east of
82 RG07-219 56 74 18 0.52 0.011 0.59 Infill hole
and 116 152 36 0.43 0.013 0.51 drilled between
and 184 246 62 0.43 0.035 0.64 Las Guias and
and 264 302 38 0.38 0.021 0.51 Marja, 300m east
and 318 538 220 0.42 0.019 0.54 of RG06-039 and
and 556 782 226 0.51 0.023 0.66 220m south-
southeast of RG07-
83 RG07-220 62 84 22 0.40 0.070 0.82 This scissor hole
and 124 148 24 0.32 0.031 0.50 with RG06-030 was
and 256 328 72 0.35 0.022 0.48 drilled in an
and 518 564 46 0.35 0.027 0.51 easterly direction
and 582 906 324 0.56 0.022 0.70 thickness of
and is located on
the southern
margin of Las
Guias, some 220m
south of RG06-039.
84 RG07-221 234 284 50 0.52 0.023 0.65 Step out drill
and 412 472 60 0.47 0.019 0.59 hole collared 140
and 490 697 207 0.59 0.018 0.69 south east of
incl. 564 590 26 0.87 0.032 1.06 RG-07-220 and was
also drilled in an
easterly direction.
85 RG06-065 272 296 24 0.36 0.013 0.43 Step out hole
and 354 434 80 0.38 0.018 0.49 located on the
and 478 500 22 0.34 0.019 0.45 norhern margin of
and 600 622 22 0.41 0.022 0.54 Las Guias,
and 646 694 48 0.37 0.010 0.44 collared 100m
north of RG07-204.
86 RG08-223 88 124 36 0.35 0.018 0.46 Infill hole
and 330 354 24 0.26 0.027 0.43 located in the
and 382 506 124 0.60 0.039 0.84 areas between Las
incl. 438 488 50 0.83 0.064 1.21 Guias and Relincho
87 RG08-225 92 158 66 0.46 0.008 0.51 Step out hole
and 284 432 148 0.42 0.016 0.52 located on the
and 456 620 164 0.44 0.021 0.56 northwest margin
and 668 706 38 0.52 0.014 0.61 of Las Guias, 140m
and 742 782 40 0.52 0.013 0.59 step out to the
east of hole
RG07-214 (no see
below) and collared
165m E of RG07-
204. Hole is
located 100m NW of
hole RG07-094
88 RG06-094 196 262 66 0.38 0.027 0.54 Step out hole
and 372 644 272 0.50 0.024 0.64 located on the
and 674 782 108 0.64 0.030 0.82 of las Guias,
collared 100m
southeast of hole
RG07-225 and 225m E
of RG06-020.
89 RG06-025 98 128 30 0.38 0.005 0.41 Infill hole
and 508 868 360 0.46 0.025 0.61 located in the
area between Las
Guias and Marja.

(i) Diamond drill holes have been drilled from the bottom of previously
drilled RC holes (pre-collars). For that reason the number of the pre-
collar is not the actual order in which these holes were drilled as
part of the sulphide program. The first column indicates the sequence
in which the sulphide holes were drilled.
(ii) Copper equivalent is calculated for primary sulphide intervals using
US$1.00/lb Cu and US$6.00/lb Mo and is not adjusted for metallurgical
recoveries as these remain uncertain. The formula used is as follows:
CuEQ equals Cu% + Mo% x 6.All intervals are in sulfide mineralization
unless otherwise noted.

To date, 95 holes totaling 60,200 meters have been completed in the sulphide drill program. Four diamond drill rigs are now operating on the property with a fifth rig being mobilized to the project in May. The drill program is focused on expanding the current mineral resource, in particular, the higher grade contact zone at Las Guias. The program is forecast to continue for the remainder of 2008 and will include both exploration and infill drilling.

The 43-101 technical report, detailing the current oxide and sulphide mineral resource estimates, can be viewed on both the Global website at and SEDAR at

On April 14, 2008 Global announced that it has entered into an agreement with Teck Cominco Limited ("Teck") for Teck to acquire Global by way of an arrangement under the Business Corporations Act (British Columbia). Under the arrangement, Global shareholders will receive C$12.00 or 0.26667 of a Teck Class B subordinate voting share per Global common share, subject to pro-ration, and subject to adjustment in certain circumstances, and one share of a new company, to be named Lumina Copper Corp. Further details on Global s agreement with Teck can be found in the Global news release, dated April 14, 2008, posted on both the Global and SEDAR websites.

The Company has also entered into an agreement to acquire approximately 52,000 hectares of surface rights over the Relincho project and potential infrastructure and tailings site areas. As part of the transaction, the Company has a four year option to acquire an additional 198,000 hectares of surface rights. In addition, the Company has acquired a series of mineral rights that lie immediately to the south of the Relincho project area.

Leo Hathaway, P.Geo., is the Qualified Person as defined by National Instrument 43-101 for the Relincho Project and has reviewed and approved the contents of this news release. The quality assurance/quality control program is monitored by independent consultant Dr. Bruce M. Davis, Chief Geostatistician for Norwest Corporation and managed on site by Patricio Valenzuela, a Chilean geologist with over 24 years of experience. Logging and sampling are completed at Global s secure facility located at the project. The drill cores are mechanically split on site and samples securely transported to the ACME s facilities in Santiago, Chile for sample preparation and analysis. Total copper content is determined by three-acid digestion with atomic absorption finish. Global inserts standards, blanks and duplicates selected on a random basis into the sample stream and sends 5% of the sample pulps to check laboratories in Santiago, Chile.

The map accompanying this press release is available at the following web link:

CAUTION REGARDING FORWARD LOOKING STATEMENTS: This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver, copper and molybdenum, the timing of exploration activities, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and Global Copper's commitment to, and plans for developing any of its projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Copper to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Company's projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, silver, copper and molybdenum, as well as those factors discussed in the sections relating to risk factors of our business filed in Global Copper's required securities filings on SEDAR. Although Global Copper has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.

There can be no assurance that any forward-looking 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. Global Copper does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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