NEWS
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NEWS RELEASES
July 31, 2007
Cooper Receives Class A Five-Year Drill Permit For Great Bear Lake IOCG Project
VANCOUVER, July 31, 2007 - Cooper Minerals Inc. (TSX-Venture: CQ; Frankfurt: JM6) has received formal approval from the Sahtu Land and Water Board (SLWB) for a Class A five-year drill permit at its Great Bear Lake iron oxide, copper, gold, silver and uranium (IOCG) project located in Canada's Northwest Territories. The Port Radium, Contact Lake and Terra properties consist of a 100-per-cent interest in approximately 175,000 acres, 430 kilometres north of Yellowknife, Northwest Territories. Cooper Minerals is the largest public company landholder in the area and was one of the first to begin acquiring property in these historic mining camps.
Cooper's president and chief executive officer, Simon Tam, commented: "We would like to extend our thanks to the First Nations community of Deline for their support in the permitting process. It is a pleasure to work with such a progressive community, who support responsible economic development. Their support for permitting all of the mining companies in the area will result in more than $25 million dollars being expended in 2007 to develop The Great Bear Lake IOCG district. The exploration results derived from these expenditures will fuel this exciting area play."
The Olympic Dam or iron oxide-copper-gold (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, mined and operated by BHP Biliton, consists of dike-like, hematite-rich diatreme breccias in granite and felsic volcanics and has a reported resource of 2.32 billion tons of 1.6 per cent copper, 0.5 gram per ton gold, 3.5 grams per ton silver and 0.4 kilogram per ton uranium oxide (U3O8).
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). Uranium, copper, gold, silver, cobalt and bismuth showings have been documented on the properties.
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
About the Company
Cooper Minerals Inc. is a mineral exploration and development company that identifies and acquires highly prospective exploration projects internationally. The Company is focused on the exploration of uranium properties in Canada and Finland.
For additional information please visit our website @ www.cooperminerals.com
On behalf of the Board of Directors,
"Simon Tam"
Simon Tam,
President and Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.
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