Global Copper Corp.
TSX : GLQ

Global Copper Corp.

December 12, 2007 08:01 ET

Global Copper Reports Interim Sulphide Mineral Resource Estimate for Relincho Copper-Molybdenum Deposit-Significant Increase over Previous Estimate

A conference call to discuss the resource estimate will be held on December 12 at 10am (Pacific Time) Call-in information is provided at the end of this news release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2007) - Global Copper Corp. (the "Company") (TSX:GLQ) is pleased to announce that it has received an interim, independent sulphide mineral resource estimate that has significantly increased the size of the Relincho copper/molybdenum deposit located in Region III, Chile. The interim estimate includes the results of 17 holes drilled in the newly discovered higher grade copper-molybdenum zone at Las Guias which remains open to the northeast, the south and at depth. The final mineral resource estimate will be known when the drill exploration program is complete.

David Strang, President and CEO said, "I am very pleased with the results of the interim resource estimate and am even more excited about the results we are receiving from the new higher grade copper and molybdenum zone at Las Guias. We are aggressively exploring the zone with four drill rigs and hope to continue to increase the size and grade of the deposit."

The interim sulphide NI 43-101 compliant mineral resource estimate is as follows:



Sulphide Indicated Mineral Resources
--------------------------------------------------------------------------
Size Grade Contained Metal
CuEq(1) --------------------------------------------------------------
Cut-Off Tonnes CuEq(1) Cu Mo Cu Mo
(%) (Million) (%) (%) (%) (Billion lb) (Million lb)
--------------------------------------------------------------------------
0.2 871 0.48 0.37 0.017 7.12 332
--------------------------------------------------------------------------
0.4 498 0.61 0.47 0.023 5.14 250
--------------------------------------------------------------------------
0.6 200 0.79 0.60 0.032 2.63 139
--------------------------------------------------------------------------

Sulphide Inferred Mineral Resources
--------------------------------------------------------------------------
Size Grade Contained Metal
CuEq(1) --------------------------------------------------------------
Cut-Off Tonnes CuEq(1) Cu Mo Cu Mo
(%) (Million) (%) (%) (%) (Billion lb) (Million lb)
--------------------------------------------------------------------------
0.2 1,140 0.38 0.30 0.014 7.54 347
--------------------------------------------------------------------------
0.4 378 0.56 0.43 0.023 3.58 191
--------------------------------------------------------------------------
0.6 104 0.80 0.58 0.038 1.32 87
--------------------------------------------------------------------------
Mineral resources do not have demonstrated economic viability. The "base
case" cut-off limit for the sulphide resources is 0.4%CuEq.
(1) Copper equivalent is calculated for 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.


The NI 43-101 compliant oxide mineral resource estimate has also been updated as a result of the sulphide drill program and is shown in the table below:



Oxide Indicated Mineral Resources
--------------------------------------------------------------------------
Size Grade Contained Metal
Cu T --------------------------------------------------------------
Cut-Off Tonnes CuT Mo Cu Mo
(%) (Million) (%) (%) (Million lb) (Million lb)
--------------------------------------------------------------------------
0.1 161 0.27 0.008 970 28
--------------------------------------------------------------------------
0.2 114 0.32 0.009 814 22
--------------------------------------------------------------------------
0.3 56 0.41 0.010 501 13
--------------------------------------------------------------------------

Oxide Inferred Mineral Resources
--------------------------------------------------------------------------
Size Grade Contained Metal
Cu T --------------------------------------------------------------
Cut-Off Tonnes CuT Mo Cu Mo
(%) (Million) (%) (%) (Million lb) (Million lb)
--------------------------------------------------------------------------
0.1 46 0.17 0.006 171 6
--------------------------------------------------------------------------
0.2 11 0.27 0.008 63 2
--------------------------------------------------------------------------
0.3 3 0.36 0.008 21 0
--------------------------------------------------------------------------
Mineral resources do not have demonstrated economic viability. The "base
case" cut-off limit for the oxide resources is 0.2%Cu


These new mineral resource estimates were calculated using ordinary kriging and are based upon a total of 92,445 meters in 378 holes and include the previous drilling completed in the 1990's by Outokumpu comprising 43,968 meters in 161 holes. An updated NI 43-101 technical report detailing the sulphide and oxide mineral resource estimates will be completed and filed within 45 days.

In 2003, AMEC completed a NI 43-101 compliant mineral resource estimate at Relincho defining Measured and Indicated Sulphide Resources of 174 million tonnes grading 0.59% copper and 0.024% molybdenum and Inferred Sulphide Resources of 100 million tonnes grading 0.51% copper and 0.017% molybdenum at a cutoff grade of 0.4% copper. The current Indicated Sulphide Mineral Resources at Relincho totals 498 million tonnes grading 0.47% copper and 0.023% molybdenum (0.61% Copper Equivalent(1)) and Inferred Sulphide Mineral Resources of 378 million tonnes grading 0.43% copper and 0.023% molybdenum (0.56% Copper Equivalent(1)); both using a 0.4% Copper Equivalent(1) cut-off grade.

The Company will begin work on a Preliminary Economic Assessment in early 2008 which should be completed by mid year.

Robert Sim, P.Geo., from Norwest Corporation and a Qualified Person as defined by NI 43-101, is responsible for the mineral resource estimate. Mr. Leo Hathaway, P.Geo., the Qualified Person as defined by NI 43-101 for the Relincho project, has reviewed and approved the content of this press release.

Conference Call

Call in details for the conference call to be held on December 12 at 10am (Pacific Time) are:

North American toll-free: 1-866-322-2356

International: 1-416-640-3405

A replay of the conference call will be available on the Company's website at www.globalcoppercorp.com after the conference call.

GLOBAL COPPER CORP.

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 the Preliminary Economic Assessment, and other 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 generally and operations in Chile specifically, 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 perhaps 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.

The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. This News Release uses the terms "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources". United States investors are advised that, while such terms are recognized and required by Canadian securities laws, the SEC does not recognize them. Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. United States investors are cautioned not to assume that all or any part of Measured Mineral Resources or Indicated Mineral Resources will ever be converted into reserves. Further, "Inferred Mineral Resources" have a great amount of uncertainty as to their existence and as to whether they can ever be mined legally or economically. It cannot be assumed that all or any part of the "Inferred Mineral Resources" will ever be upgraded to a more reliable category. Therefore, United States investors are also cautioned not to assume that all or any part of the Inferred Resources exist, or that they can ever be mined legally or economically. Accordingly, information concerning descriptions of mineralization and resources contained in this News Release may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC.

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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