Northern Peru Copper Corp.
TSX : NOC

Northern Peru Copper Corp.

October 31, 2005 08:30 ET

Northern Peru Copper Intercepts 330m @ 0.84% Copper '1.07% Copper Equivalent' at Galeno

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2005) - Northern Peru Copper Corp. (TSX:NOC) announces that it continues to receive excellent drill results from its Phase 2 drilling program at the Galeno copper-gold-molybdenum project in northern Peru. The results from the latest four holes are highlighted by hole GND-05-12 that returned 330 meters grading 0.84% copper, 0.19 g/t gold, and 0.020% molybdenum (1.07% copper equivalent), including 210 meters grading 1.02% copper, 0.23 g/t gold and 0.020% molybdenum (1.28% copper equivalent). Of these holes, GND-05-12 and 13 were drilled to twin and deepen previous rotary holes RCD-GN-30 and 31. While these new holes showed excellent correlation with the older rotary holes, they have also significantly deepened the zone of high grade copper-gold mineralization at Galeno.

Marshall Koval, President & CEO, said: "We are extremely encouraged by the fact that the copper and gold grades in holes GND-05-12 and GND-05-13 correlate extremely well with the rotary drill holes drilled by the previous operator. Of particular significance is that these twin holes deepened previously known high grade mineralization 69 meters and 100 meters respectively below the neighbouring rotary drill holes."

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



-------------------------------------------------------------------
Cu(i)
Equiva-
From To Interval Cu Au Mo lent
Hole No. meters meters meters % g/t % %
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GND-05-10 16.00 106.00 90.00 0.49 0.20 0.003 0.62
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GND-05-11 14.00 424.00 410.00 0.50 0.08 0.025 0.70
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Including 18.00 150.00 132.00 0.69 0.13 0.031 0.95
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GND-05-12 0.00 330.00 330.00 0.84 0.19 0.020 1.07
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Including 0.00 210.00 210.00 1.02 0.23 0.020 1.28
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GND-05-13 0.00 314.00 314.00 0.90 0.19 0.008 1.06
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including 4.00 158.00 154.00 1.12 0.29 0.005 1.32
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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)


Drilling at Galeno is continuing with two drill rigs. To date 26 holes comprising approximately 10,000 meters of drilling has been completed within the current program of 15,000 meters. Additional results will be announced as they are received.

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.).

To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/NOC1031.gif

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.

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