Peru Copper enters into exclusivity agreement

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(Official press release)

Peru Copper Inc. ("Peru Copper" or the "Company") announced today that it has entered into an exclusivity agreement with a third party in order to facilitate discussions with such third party regarding a potential transaction which may involve the acquisition of the Company or other material transactions. The exclusivity period ends on May 28, 2007. There is no certainty that agreement on a transaction will be reached and Peru Copper will provide further updates at the appropriate time. Peru Copper is involved in the acquisition and exploration of potentially mineable deposits of copper in Peru. On June 11, 2003, Peru Copper entered into the Toromocho Option Agreement ("Toromocho Option") with Empresa Minera del Centro del Peru S.A. ("Centromin"), a Peruvian state-owned mining company, whereby Centromin granted the Company the option to acquire its interest in the mining concessions and related assets of the Toromocho Project.

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "mineral deposit", that the SEC guidelines strictly prohibit U.S. registered companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form F-3 Registration Statement, File No. 333-121527, which may be secured from us, or from the SEC’s website at http://www.sec.gov/edgar.shtml.

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