Peru Copper Update
May 10 2006 - 4:50PM
PR Newswire (US)
VANCOUVER, May 10 /PRNewswire-FirstCall/ -- Peru Copper Inc.
(TSX:PCR / AMEX:CUP / BVL: CUP) ("Peru Copper" or the "Company") At
the request of Market Regulation Services on behalf of the Toronto
Stock Exchange ("TSX") the Company has been asked to comment on the
recent trading activity in the Company shares. The Company
announces that it has made no recent business announcements and is
unaware of any specific reason for the unusual trading activity in
its stock. Peru Copper advises that its policy is not to comment on
unusual market activity or on industry or market speculation or
rumors. Peru Copper also notes that its policy is to release
information on material developments as soon as practical after
they have occurred and the Company is not currently contemplating
any such release. In November 2005, the Company announced that it
had commenced a process to evaluate strategic alternatives intended
to maximize shareholder value from its Toromocho Copper Project.
Those alternatives may include a sale of a portion of the Toromocho
Project to a strategic partner to assist in the development of the
Toromocho Project, a sale of the project; or development of the
Toromocho Project by the Company itself. Peru Copper's strategic
review continues and the Company has no material information to
disclose relating to the process at this time. The Company will
keep shareholders informed of any material developments as they
occur. 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.
For further information please contact Patrick De Witt, Director of
Investor Relations at (604) 689-0234 or 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-1 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.
Forward-Looking Statements: Statements in this release that are
forward-looking statements are subject to various risks and
uncertainties concerning the specific factors identified in the
Peru Copper Inc. periodic filings with Canadian Securities
Regulators. Such forward-looking information represents
management's best judgment based on information currently
available. No forward-looking statement can be guaranteed and
actual future results may vary materially. Peru Copper does not
assume the obligation to update any forward-looking statement. Safe
Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of
historical fact contained herein, the information presented
constitutes "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements, including but not limited to those with
respect to the price of copper, the timing of completion of
exploration activities and the determination and amount of
estimated mineral resources involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Peru Copper Inc. to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, among others, risks related to the exploration and
potential development of the properties owned by the company, risks
related to international operations, the actual results of current
exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined,
future prices of copper, silver, molybdenum and gold, as well as
those factors discussed in the section entitled "Risk Factors" in
the Form F-1 as on file with the Securities and Exchange Commission
in Washington, D.C. Although Peru Copper Inc. has attempted to
identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. DATASOURCE:
Peru Copper Inc. CONTACT: Patrick De Witt, Director of Investor
Relations at (604) 689-0234 or
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