Global Copper Corp.

Global Copper Corp.

October 24, 2007 11:06 ET

Global Copper Intersects 572 and 348 Meters Grading 0.96% and 1.04% Copper Equivalent in Step-Out Drill Holes in the Las Guias Zone at Relincho, Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2007) - Global Copper Corp. ("Global")(TSX:GLQ) is pleased to announce results from a further 5 holes in the sulphide drilling program at its Relincho copper-molybdenum project in Chile. The holes were all drilled in the Las Guias zone. Results are highlighted by step-out holes RG06-206 which intersected 572 meters grading 0.52% copper and 0.074% molybdenum (0.96% copper equivalent(ii)) including 14 meters grading 1.670% molybdenum and 0.23% copper (10.23% copper equivalent(ii)) and RG06-047 that returned 348 meters grading 0.70% copper and 0.056% molybdenum (1.04% copper equivalent(ii)) including 34 meters grading 1.62% copper and 0.169% molybdenum (2.64% copper equivalent(ii)).

The results from the latest 5 drill holes are shown in the table below; there is insufficient geological data to calculate true thicknesses of these intervals:

Sulphide Pre-Collar From To Len- Cu Mo CuEq% Comment
Drill Holes Hole (m) (m) gth Total (%) (ii)
- Order of Number(i) (m) (%)
58 RG06-203 186 308 122 0.45 0.023 0.58 The longest
and 422 764 342 0.65 0.032 0.84 interval represents
incl. 552 628 76 0.87 0.046 1.14 a 120m step-out to
incl. 696 752 56 0.80 0.034 1.01 the north and
downwards from the
midpoint of the 364
to 619m interval in
59 RG06-047 462 810 348 0.70 0.056 1.04 85m step-out to the
incl. 666 700 34 1.62 0.169 2.64 east and downwards
from the midpoint
of the 364
to 619m interval in
60 RG07-204 48 82 34 0.61 0.010 0.67 The longest
and 362 622 260 0.52 0.024 0.66 interval represents
incl. 446 486 40 0.76 0.042 1.01 a 50m step-out to
the north and
downwards from the
midpoint of the 256
to 434m interval in
61 RG07-205 250 428 178 0.45 0.030 0.63 The longest
and 450 526 76 0.56 0.015 0.66 interval represents
a 50m lateral
step-out to the
from the midpoint
of the 256 to 434m
interval in
62 RG07-206 12 584 572 0.52 0.074 0.96 The longest
incl. 332 386 54 0.63 0.499 3.62 interval represents
incl. 360 374 14 0.23 1.670 10.23 a 130m lateral
and 542 580 38 0.95 0.093 1.50 step-out to the
west from the
midpoint of the 364
to 619m interval in
RG07-189. RG07-206
is 808m deep but
results have only
been received from
0 to 600m.
(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 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.

The new zone of higher grade mineralization at Las Guias was discovered by the previously released hole RG06-189 that intersected 255 meters from 364 to 619 meters grading 0.67% copper and 0.057% molybdenum (1.01% copper equivalent(ii)) including 26 meters from 574 to 600 meters grading 1.46% copper and 0.125% molybdenum (2.22% copper equivalent(ii)). Holes RG06-203, RG07-087 and RG07-206 stepped out laterally on this intercept to the north, east and west respectively as well as downwards, thereby extending the zone of higher grade mineralization. The zone of greater than 1% copper equivalent at Las Guias is characterized by brecciation in the contact zone of a porphyry copper intrusion that does not outcrop at surface. Mineralization consists of a simple assemblage of bornite, chalcopyrite, molybdenite and pyrite. These results confirm the continuity of the higher grade copper and molybdenum zone at Las Guias and additional step-out drilling is planned to further delineate it.

Holes RG07-204 and RG07-205 stepped out to the east and north of RG06-019 (results released October 2007) and expanded the margin of the Las Guias sulfide deposit in these directions.

To date, 65 holes totaling 35,309 meters have been completed in the sulphide drill program. In September a fourth rig was mobilized to the project and the drill program is forecast to continue into 2008. An updated NI 43-101 sulphide mineral resource estimate will be released by year end to include the results of the sulphide drill program to date and a Preliminary Economic Assessment will begin in the first quarter of 2008.

The technical reports for the previously delineated oxide and sulphide resource estimates can be viewed on both the Global website at and SEDAR at

NOTE: To view the map associated with this press release, please visit the following link:

Leo Hathaway, P.Geo., is the Qualified Person as defined by National Instrument 43-101 for the Relincho Project. 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.


David Strang, President & CEO

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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