NEWS

Cooper To Acquire Additional Iron Oxide Copper/Gold/Silver Uranium Property In Contact Lake


VANCOUVER, March 12, 2007 – Cooper Minerals Inc. (TSXV: CQ (the "Company") wishes to announce that it has entered into a purchase agreement with Kalac Holdings Ltd., Mountain Island Exploration Ltd., Lane Dewar and Frontier Asset Management Limited (the "Vendors") to acquire a 100-per-cent interest in certain properties located near the Contact Lake (the "Property") in the Great Bear Lake area of the Northwest Territories. The property is located approximately 423 kilometers north of Yellowknife, Northwest Territories.

The terms of the purchase agreement for a 100-per-cent interest in the property require the company to make cash payment of $350,000 and to issue three million shares to the vendors. The property is subject to a 2.5 per-cent net smelter return royalty. The Company has the right to reduce the royalty to 1 per cent by paying $2-million. This acquisition is subject to exchange approval. A finder's fee, in the maximum amount permitted under the policies of the TSX Venture Exchange, is payable.

The property comprises 45 claim blocks with a total area of approximately 98,800 acres. The majority of the property is located between Cooper's Contact Lake and Terra properties. This acquisition will make the company the largest public company landholder in the area. The company has acquired these properties for their IOCG (iron ore-copper-gold) potential. These polymetallic targets have the potential to host billions of tons of copper, gold and uranium mineralization (Olympic Dam type).

The Olympic Dam or IOCG model is proposed as the main exploration target on Cooper's properties in this part of the Great Bear magmatic zone. The Olympic Dam deposit at Roxby Downs in the Gawler craton of southwest Australia consists of dike-like, hematite-rich diatreme breccias in granite and felsic volcanics and has a reported resource of 2.32 billion tonnes of 1.6 per cent copper, 0.5 gram per tonne gold, 3.5 grams per tonne silver and 0.4 kilogram per tonne uranium oxide (U3O8).

Features of the mineralization and geology in the Great Bear magmatic zone indicate similarities with the Olympic Dam IOCG deposit. Four constants postulated by Skirrow (1999) exist in both areas: tectonothermal evolution; host sequence composition; existence of two contrasting hydrothermal fluid types that allow for co-existence of magnetite and hematite; and a setting within a deep, crustal-scale fault system. These and other similarities conclude that the Cooper properties are situated in a geological setting that has the potential to host high-unit-value polymetallic mineralization associated with large-tonnage, IOCG-type deposits, as well the potential to host Echo Bay-type, high-grade U3O8 and silver mineralization.

The Great Bear Lake area contains three historic mining camps, which are in close proximity and are geologically connected. These are the Port Radium, the Contact Lake and the Terra camps. The formerly producing mines in these camps produced intermittently from 1930 until 1985 over 48 million ounces silver, 15 million pounds of U3O8 and 7,000 tons of copper (Strand, 1996).

The evident structural control on significant mineralization on the new property is encouraging considering the setting of the property within a complex set of through-going faults and lineaments and the importance of structures in the IOCG deposit model. A large hydrothermal system has affected the area, consisting of intense iron and alkali-rich alteration zones. Anomalous copper-cobalt-gold geochemistry is associated with iron-oxide breccias and magnetite-albite-actinolite alteration of the country rocks. Copper, gold, silver cobalt and bismuth showings have been documented on the property.

Regional geophysics shows a large co-incident magnetic and gravity anomaly on the new property. Targets outlined on Cooper's recently announced airborne geophysical survey extend onto the newly acquired ground.

Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

On behalf of the Board of Directors
Cooper Minerals Inc.

Simon Tam

Director


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