Monster Copper Corporation
TSX VENTURE : MNS

Monster Copper Corporation

November 01, 2006 17:21 ET

Monster Copper Closes Private Placement

RICHMOND HILL, ONTARIO--(CCNMatthews - Nov. 1, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US NEWS WIRE SERVICES

Monster Copper Corp. (the "Company") (TSX VENTURE:MNS) wishes to announce that the Company has completed a brokered private placement financing for gross proceeds of $1,500,000. The financing consisted of the issuance of 5,000,000 units (the "Units") at a price of $0.30 per Unit. Each Unit consisted of one common share and one transferable common share purchase warrant, with each warrant being exercisable for one additional common share of the Company at an exercise price of $0.55 until April 30, 2008.

The agent, Pacific International Securities Inc. ("PI") received a commission of 8% of the gross proceeds, paid partly in cash and partly by the issuance of 229,500 Units. PI also received 500,000 agent's warrants, with each agent's warrant being exercisable for one additional common share of the Company at an exercise price of $0.55 until April 30, 2008. PI was also paid a corporate finance fee.

All securities issued pursuant to this financing are subject to a four-month hold period that expires March 1, 2007.

The proceeds of the offering will be used principally for the Company's exploration for Uranium in Labrador as well as conducting the general business of the Company.

About Monster Copper Corporation Monster Copper (www.monstercopper.com) is dedicated to the discovery of world-class IOCG copper-gold-uranium deposits with an experienced IOCG exploration team. The Company is actively exploring for uranium it's 100% owned Aillik East property and through a 50:50 JV with Santoy Resources Ltd (TSX VENTURE:SAN) on the Mustang Lake and Bruce River properties in the Central Mineral Belt of Labrador. The company has established itself by partnering with Xstrata plc (formerly Falconbridge Ltd.), exploring for IOCG copper-gold deposits in the Carajas Mineral Province of northern Brazil, where drilling is currently taking place.

MONSTER COPPER CORPORATION

Michael J. Downes, President, C.E.O. and Director

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Monster Copper Corporation
    Michael Downes
    President
    (905) 780-8783
    (905) 780-8790 (FAX)
    or
    Monster Copper Corporation
    Rob Carriere
    Investor Relations
    (604) 687-3929
    Email: info@monstercopper.com
    Website: www.monstercopper.com