COPPERCO LIMITED

ASX Code CUO www.copperco.com.au

Company Facts

Project Facts

• The Company’s objective is to become a significant and independent copper producer
• The Company has consolidated approximately 2,500km² of Mining Leases and Exploration Permits in the Mount Isa Block, making it a major tenement holder in the region
• The development of the Lady Annie oxide copper resource will provide the Company the opportunity to rapidly become a copper producer
• A Measured, Indicated and Inferred Mineral Resource for the Lady Annie Chalcocite is estimated at 7.6 Mt @ 0.9% Cu using a 0.3% Cu cut off (71,300 tonnes of contained copper)
• A Feasibility Study at Lady Annie has been completed, debt and equity funding has been put in place, and first production at a rate of 19,000 tonnes of copper per year is scheduled for 3rd quarter of calendar year 2007. Over A$1 billion in revenue would be yielded at current copper prices
• The company will undertake metallurgical testwork, expected to be completed in the last quarter of calendar 2007, in order to determine a suitable process flowsheet for the recovery of copper

More Information

CopperCo’s strategy is to create a substantial independent copper producer focused on the Mount Isa block. An extensive tenement package has been assembled exceeding 2,500 square kilometres that hosts several known oxide and sulphide copper resources and prospects.

The acquisition from Buka Minerals Limited and ultimate development of the Lady Annie Project will provide CopperCo the opportunity to rapidly become a copper producer.

The Lady Annie Project is based on the mining of oxide copper deposits at Lady Annie and in the Mount Kelly are, with ores processed by heap leaching, solvent extraction and electrowinning at a central processing facility at Mount Kelly.  CopperCo recently announced that project construction is on track to produce copper cathode by late July 2007 and that mining operaions had commenced at the Lady Annie Project.

On 23 February 2007, CopperCo announced a formal decision to expand the annual production capacity of the Lady Annie Copper Project to 25,000 tonnes copper cathode. Subject to finalisation of design and detailed engineering, the expanded throughput is planned to be implemented during the course of calendar 2008. Full year capacity is forecast to be achieved in calendar 2009. Detailed engineering and design work is to commence immediately.

CopperCo continues to move quickly to copper production status by accepting a project financing facility of up to $61 million from Macquarie Bank Limited to develop the Lady Annie Project.  With the financing now secured, development of the Company’s copper project in Mount Isa underway.

Based on the current project schedule CopperCo remains on track for first shipment of copper chathode in 2^nd quarter of calendar 2007.

CopperCo is led by Mr Brian Rear, former Chief Executive of Straits Resources Limited, as an Executive Director to oversee the implementation of the CopperCo strategy. Mr Rear has been responsible for two successful greenfields copper developments, including the Girilambone mine, and led a turnaround of the Nifty mine, initially developed by WMC.

Minsec holds an 18.02% investment in CopperCo with 91.6 million ordinary shares.

For more information on CopperCo, click here copperco.com.au or phone +61 (0) 8 9260 8800.