Northern Peru Copper Corp.
TSX : NOC

Northern Peru Copper Corp.

January 24, 2006 08:30 ET

Northern Peru Copper Cuts 320 Meters @ 0.69% Copper '0.86% Copper Equivalent' in One of Four Successful New Holes at Galeno

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 24, 2006) - Northern Peru Copper Corp. (TSX:NOC) announces further excellent results from its drill program at the Galeno copper-gold-molybdenum project in northern Peru including a hole that extends the previously defined high grade copper core zone of the deposit to the north.

Results are highlighted by step out hole GND-05-38 that returned 320 meters grading 0.69% copper, 0.16 g/t gold, and 0.012% molybdenum (0.86% copper equivalent) from surface including 148 meters that assayed 0.85% copper, 0.14 g/t gold, and 0.011% molybdenum (1.00% copper equivalent).

In addition the southern margin of the deposit was extended to depth and laterally by hole GND-05-39 that graded 253.75 meters grading 0.51% copper, 0.12 g/t gold and 0.013% molybdenum (0.65% copper equivalent). Holes GND-05-40 and GND-05-41 stepped out further from GND-05-38 and encountered continuing mineralization to the east and northwest that remains open. Results are summarized in the table below:



----------------------------------------------------------------
----------------------------------------------------------------
Cu(i)
From To Interval Cu Au Mo Equivalent
Hole No. Meters Meters Meters % g/t % %
----------------------------------------------------------------
----------------------------------------------------------------
GND-05-38 1.50 322.00 320.50 0.69 0.16 0.012 0.86
----------------------------------------------------------------
including 38.00 186.00 148.00 0.85 0.14 0.011 1.00
----------------------------------------------------------------
----------------------------------------------------------------
GND-05-39 12.25 266.00 253.75 0.51 0.12 0.013 0.65
----------------------------------------------------------------
----------------------------------------------------------------
GND-05-40 8.00 276.00 268.00 0.41 0.06 0.019 0.56
----------------------------------------------------------------
----------------------------------------------------------------
GND-05-41 5.10 426.00 420.90 0.57 0.09 0.018 0.73
----------------------------------------------------------------
----------------------------------------------------------------
(i) Copper equivalent calculated using US$1.00/lb Cu,
US$400/oz Au 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% + (Au g/t x 12.86 / 22.05) +
Mo% x 132.28 / 22.05)


Marshall Koval, President & CEO, said: "Northern Peru's increased emphasis on step out drilling is already producing great results with the last four holes extending the copper deposit to the north and south. With two drills now turning on step out holes to the east and northeast of the Galeno deposit, a third on site ready to test further gold targets at adjacent Hilorico and an extensive metallurgical test program underway we feel that we are quickly adding value to the Galeno project and the company."

To date 46 holes comprising approximately 18,000 meters have been drilled at Galeno with 673 metres of core drilling in two holes completed at Hilorico. Additional results will be announced as they are received.

To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/nocholeplan.jpg

Marshall Koval, P.Geo, is the Qualified Person as defined by National Instrument 43-101 for the Galeno Project. Jeff O'Toole, a geologist with over 25 years of experience is supervising the quality control and quality assurance program on site. Logging and sampling are completed in Northern Peru's secure facility located at the project. The drill cores are mechanically split on site and samples are transported to the Acme Analytical Laboratories facility in Lima for sample preparation with analysis done at their facility in Vancouver B.C. Northern Peru 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 Vancouver.

NORTHERN PERU COPPER CORP.

Marshall Koval, CEO & President

CAUTION REGARDING FORWARD LOOKING STATEMENTS:

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such forward-looking statements, including but not limited to those with respect to the price of copper, gold and molybdenum, the timing and amount of future production, metallurgical recoveries, costs of production, reserve and resource determination and reserve conversion rates, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks relating to the integration of acquisitions, risk relating to international operations, risks relating to joint-venture operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project and exploration parameters as plans continue to be refined, future prices of copper, gold and molybdenum, as well as those factors discussed in the section entitled "Risk Factors" in the Form 20-F as on file with the Securities and Exchange Commission in Washington, D.C. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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.

Contact Information