Northern Peru Copper Corp.
TSX : NOC

Northern Peru Copper Corp.

October 03, 2005 08:00 ET

Northern Peru Copper Intercepts 316m @ 0.72% Copper '0.87% Copper Equivalent' at Galeno

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 3, 2005) - Northern Peru Copper Corp. (TSX:NOC) announces that it continues to receive excellent drill results from its Phase 1 drilling program at the Galeno copper-gold-molybdenum project in northern Peru. The results from the latest four holes are highlighted by hole GND-05-06 that returned 316 meters grading 0.72% copper, 0.08 g/t gold, and 0.018% molybdenum (0.87% copper equivalent), including 107 meters grading 1.02% copper, 0.10 g/t gold and 0.017% molybdenum (1.18% copper equivalent). On the basis of these results, a second drilling rig has been mobilized to the site, and a Phase 2 program comprising 10,000 meters of drilling has been initiated immediately.

Marshall Koval, President & CEO, said: "We are very pleased with the progress of our exploration program at Galeno. In particular, we are extremely encouraged by the distribution and consistency of the grade and intercepts that we have encountered in the holes drilled to date. With the initiation of Phase 2 we will now aggressively expand the exploration program to delineate as large a mineral resource as possible."

The new results comprise 4 core holes and are listed below. Hole locations are shown on the attached map.


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From To Interval Cu Au Mo Cu(i)
Hole No. meters meters meters % g/t % Equivalent %
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GND-05-06 2.00 318.00 316.00 0.72 0.08 0.018 0.87
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Including 75.00 182.00 107.00 1.02 0.10 0.017 1.18
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GND-05-07 4.00 216.00 212.00 0.56 0.10 0.018 0.73
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Including 4.00 78.00 74.00 0.77 0.06 0.018 0.91
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GND-05-08 9.00 400.00 391.00 0.62 0.08 0.016 0.76
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Including 12.00 188.00 176.00 0.80 0.12 0.019 0.98
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GND-05-09 10.00 168.00 158.00 0.62 0.08 0.021 0.79
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Including 16.00 66.00 50.00 0.86 0.06 0.024 1.04
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(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)

The Galeno property contains significant known copper mineralization. An independent 43-101 report prepared by AMEC Peru S.A. in 2003 stated that the property contains a Historic Inferred Mineral Resource of 486 Mt at 0.57% Cu and 0.14 g/t Au, at a cutoff grade of 0.4% Cu. The focus of the Northern Peru drill program is to extend the known mineralization and upgrade it from an inferred category to National Instrument 43-101 compliant measured and indicated categories.

Marshall Koval, P.Geo, is the Qualified Person as defined by National Instrument 43-101 for the Galeno Project. Brent Hendrickson, 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.

Plan view of Galeno showing location of historical (circles) and new drilling (stars). (Grade boundaries are those defined previously by North Ltd.)

Please click on the following link to view the Plan view of Galeno:

http://www.ccnmatthews.com/docs/noc1003.pdf

NORTHERN PERU COPPER CORP.

Marshall Koval, CEO & President (1)

(1) 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.

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