Peru Copper’s exclusivity contract expires

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(Official press release)

Peru Copper Inc. ("Peru Copper" or the "Company) announced today that the previously reported exclusivity period granted to a third party to facilitate discussions, has expired without reaching any agreement on price or terms. The exclusivity agreement has not been extended. There is no assurance any agreement on price or terms can be reached with the third party or any other third party.

The Company continues to evaluate strategic alternatives to maximize shareholder value from its Toromocho Copper Project. These alternatives may include a sale of a portion of the project to a strategic partner to assist in the development of the Toromocho Project, a sale of the Company or development of the Toromocho Project by the Company itself which would involve the raising of additional capital of the Company to advance the project.

Peru Copper continues to work with its financial advisor, UBS Investment Bank, to ensure that all alternatives available to the Company are properly considered and evaluated.

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