Cooper Minerals Inc.

Cooper Minerals Inc.

September 05, 2007 07:00 ET

Cooper Minerals Reports High Grade Uranium and Silver Sampled at Terra Project; Great Bear Lake Area

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 5, 2007) - Cooper Minerals Inc. (TSX VENTURE:CQ)(FRANKFURT:JM6) announces that it has received assays from samples collected at the Terra project, 430 kilometres north of Yellowknife, in the Northwest Territories. Cooper Minerals, holding 175,000 acres, is the largest public company landholder in the area. A minimum $2-million program, including drilling, will follow up on the previously reported widespread mineralization and geophysical targets.

Sample U3O8 U3O8 Silver Cobalt Bismuth Nickel
Number % lbs/ton oz/ton % % %

19716 1.949 38.98 15,186 1.46 0.62 2.77
19717 2.034 40.68 12,700 1.21 0.55 1.77
19718 0.68 13.60 4,583 0.51 0.23 0.87
19719 1.419 28.38 9,719 0.88 0.37 1.45
19720 2.636 52.72 15,816 1.48 0.58 1.70

These samples were collected by Mike Magrum, a director of the company, from previously unreported radioactive veins in the Terra Mine area. These "Bonanza"-type grades were typical in the Eldorado uranium mine located at Port Radium to the north. Although these grades are not representative of all mineralization, they were the typical "sweeteners" found in all the former producers in the area. The Terra mining camp was not previously recognized as having uranium potential.

Simon Tam, President of Cooper Minerals, says, "These assays confirm our belief that the Terra project has the same potential to host high grade uranium mineralization as the Port Radium mining camp. We intend to aggressively follow up on these results."

The Great Bear Lake area contains three historic mining camps, which are in close proximity and are geologically connected. These are the Port Radium, the Contact Lake and the Terra camps. The formerly producing mines in these camps produced intermittently from 1930 until 1985 over 48 million ounces silver, 15 million pounds of U3O8 and 7,000 tons of copper (Strand, 1996). A large hydrothermal system has affected the area, consisting of intense iron and alkali-rich alteration zones. Uranium, copper, gold, silver, cobalt and bismuth showings have been documented on the properties.

The Cooper properties are situated in a geological setting that has the potential to host Echo Bay-type, high-grade uranium and silver mineralization as well as the potential to host. high-unit-value polymetallic mineralization associated with large-tonnage, IOCG-type deposits.

The Olympic Dam or IOCG model is proposed as a significant exploration target on Cooper's properties in this part of the Great Bear magmatic zone. These polymetallic targets have the potential to host billions of tons of copper, gold and uranium mineralization (Olympic Dam type). The Olympic Dam deposit at Roxby Downs in the Gawler craton of southwest Australia consists of dike-like, hematite-rich diatreme breccias in granite and felsic volcanics and has a reported resource of 2.32 billion tonnes of 1.6 per cent copper, 0.5 gram per tonne gold, 3.5 grams per tonne silver and 0.4 kilogram per tonne uranium oxide (U3O8).

All samples were analyzed by Loring Laboratories Ltd. in Calgary where they were subjected to 30 element ICP analysis and high values were assayed.

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

On behalf of the Board of Directors

Cooper Minerals Inc.

Simon Tam, 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.

Contact Information

  • Cooper Minerals Inc.
    Simon Tam
    (604) 871-9930
    (604) 871-9926 (FAX)