Global Copper Corp.
TSX : GLQ

Global Copper Corp.

February 19, 2007 09:00 ET

Global Copper Reports Oxide Mineral Resource Estimate for the Relincho Copper Deposit, Chile

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 19, 2007) - Global Copper Corp. (TSX:GLQ) is pleased to announce that it has received an independent mineral resource estimate delineating the oxide mineral resource at the Relincho copper/molybdenum project located 80 kilometers northeast of Vallenar, in Region III, Chile. The report estimates Indicated Resources of 107 million tonnes grading 0.33% copper containing 777 million pounds of copper and Inferred Resources of 13 million tonnes grading 0.27% copper containing 78 million pounds of copper, at a cutoff grade of 0.20% copper. The mineral resource has been prepared by Norwest Corporation ("Norwest") in compliance with National Instrument 43-101.

David Strang, Global's President and CEO, said, "This large new oxide copper resource occurs from surface and partly overlies the much larger Relincho sulphide copper resource and could significantly improve the project's overall value by being mined ahead of development of the sulphide copper resource. We will continue to aggressively advance Relincho during 2007 through our comprehensive drilling, metallurgical, engineering and economic evaluation program."

The oxide mineral resource estimate at different copper cut off grades is summarized in the tables below.



Table 1: Indicated Mineral Resources
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Cu Tonnes Cu Cu
Cut-Off (Million) (%) (M lb)
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0.1 151 0.28 923.6
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0.2 107 0.33 777.0
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0.3 54 0.42 494.3
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0.4 21 0.53 251.9
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Table 2: Inferred Mineral Resource
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Cu Tonnes Cu Cu
Cut-Off (Million) (%) (M lb)
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0.1 50 0.17 190.3
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0.2 13 0.27 77.7
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0.3 4 0.37 28.8
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0.4 1 0.47 10.3
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Robert Sim, P.Geo., from Norwest and a Qualified Person as defined by NI 43-101, is responsible for the oxide mineral resource estimate. The oxide resource estimate was compiled using 147 holes totalling 6,692 meters. The resource estimate will be filed in a Technical Report, compliant with NI 43-101, and posted on SEDAR within 45 days.

The sulphide program is continuing with two drill rigs targeting extensions to the known mineralization at Relincho and Las Guias while also evaluating new sulphide targets outlined by the oxide drill program. To date, 28 holes have been completed totaling 8,991 meters. The program is expected to continue through June 2007 and an updated NI 43-101 sulphide mineral resource estimate will be completed thereafter. A comprehensive metallurgical testing program is underway on both oxide and sulphide material. The results from the program will be used in a Preliminary Economic Assessment to be completed during the third quarter 2007 and a Prefeasibility Study to be completed in early 2008.

The current NI 43-101 sulphide mineral resource estimate for Relincho, completed by AMEC Peru S.A. in December 2003, is shown in Tables 3 and 4:



Table 3: Measured and Indicated Resources
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Cu Tonnes Cu Mo CuEq(1) Cu Mo
Cut-Off (Million) (%) (%) (%) (B lb) (M lb)
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Measured
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0.2 79 0.52 0.026 0.68 0.9 45.3
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0.4 55 0.61 0.029 0.78 0.7 35.2
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0.6 26 0.74 0.033 0.94 0.4 18.9
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0.8 6 0.90 0.041 1.15 0.1 5.4
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Indicated
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0.2 211 0.46 0.020 0.58 2.1 93.0
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0.4 119 0.57 0.022 0.70 1.5 57.7
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0.6 44 0.72 0.024 0.86 0.7 23.3
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0.8 8 0.87 0.025 1.02 0.2 4.4
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Measured + Indicated
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0.2 290 0.47 0.022 0.60 3.0 138.3
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0.4 174 0.59 0.024 0.73 2.3 92.9
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0.6 70 0.73 0.028 0.90 1.1 42.2
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0.8 14 0.88 0.032 1.07 0.3 9.8
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Table 4: Inferred Resources
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Cu Tonnes Cu Mo CuEq(1) Cu Mo
Cut-Off (Million) (%) (%) (%) (B lb) (M lb)
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0.2 254 0.38 0.015 0.47 2.2 84.0
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0.4 100 0.51 0.017 0.61 1.1 37.5
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0.6 14 0.67 0.024 0.81 0.2 7.4
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0.8 1 0.94 0.024 1.07 0.01 0.4
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(1) 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 132.28 / 22.05).


This press release has been reviewed by Leo Hathaway, Global Copper's VP of Exploration, who is a Qualified Person under NI 43-101.

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, 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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