MELDUNGEN

Mr. Craig Walker reports

TO ACQUIRE IRON OXIDE COPPER/GOLD/SILVER URANIUM PROPERTY

Cooper Minerals Inc. has entered into a purchase agreement with Kalac Holdings Ltd., Mountain Island Exploration Ltd., Lane Dewar and Elite Vantage Development Limited to acquire a 100-per-cent interest in certain properties located near Contact Lake in the Great Bear Lake area of the Northwest Territories. The property is located approximately 423 kilometres north of Yellowknife, NWT.

The terms of the purchase agreement for a 100-per-cent interest in the property require the company to make cash payment of $150,000 and to issue two million shares to the vendors. The property is subject to a 2-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 50 claim blocks with a total area of approximately 75,000 acres. Some of this land adjoins the Alberta Star (TSX-V symbol: ASX) Contact Lake project and its newly acquired Port Radium-Crossfault Lake property, which are being explored for iron-oxide, copper, gold, silver and uranium (IOCG) targets. This acquisition will make the company the largest landholder in the area. The company has acquired these properties for their IOCG potential. These polymetallic targets have the potential to host billions of tons of copper, gold and uranium mineralization (Olympic Dam type).

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 a significant quantity of silver, copper and uranium. Significant land positions have been acquired in each mining camp.

A National Instrument 43-101 technical report is being prepared to compile the historic data on the properties. New geological models and modern exploration methods will be used to evaluate the properties. The company's objective is to bring the properties to the drill-ready stage as soon as possible.

WARNING: The company relies upon litigation protection for "forward-looking" statements.

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