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Peru Copper Reports 2007 Six Month Financial Results
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Vancouver, British Columbia, Canada, August 10, 2007 - Peru Copper Inc.
(TSX:PCR / AMEX:CUP / BVL:CUP) ("Peru Copper" or the "Company") 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 with a Peruvian state-owned mining
company, whereby it acquired exploration rights and an option to
acquire development rights in certain mining concessions that are
located in Morococha, a historical mining district in central Peru.

Recent Developments

On June 25, 2007, Chinalco Canada B.C. Holdings Ltd., a wholly-owned
subsidiary of Aluminum Corporation of China, made an offer to purchase
all of the outstanding common shares of Peru Copper for C$6.60 per
share. In connection with the offer each of the directors and certain
other shareholders of Peru Copper entered into lock-up agreements with
the offeror, under which they agreed to support the offer and to
deposit under the offer all of the Peru Copper shares beneficially
owned or controlled by them.

On July 31, 2007, Chinalco announced the completion of its offer to
acquire all the issued and outstanding common shares of Peru Copper for
cash consideration of C$6.60 per Share. All of the conditions of the
Offer were satisfied. Approximately 91% of the outstanding shares had
been tendered to the offer. Chinalco intends to acquire all
outstanding shares not tendered in the Offer. Chinalco intends to
apply to de-list the Peru Copper shares from the Toronto Stock
Exchange, the American Stock Exchange and the Lima Stock Exchange and
to cause it to cease to be a reporting issuer in Canada and the U.S. in
due course.

Effective August 10, 2007, all of the current directors of the
Corporation have resigned from office and Mr. Zhengang Zhao, Mr. Wenfu
Wang and Mr. Richard Miner have been appointed as directors of the
Corporation. In addition, David Lowell has ceased as the Corporation's
Chairman, David De Witt has ceased as Vice President of Corporation
Development and Paul Stein has ceased as Corporate Secretary. Gerry
Wolfe will continue as the Corporation's President and Chief Executive
Officer, Eric Peitz will continue as Chief Financial Officer, Angel
Alvarez will continue as Vice President, Exploration, Tom White will
continue as Vice President of Project Development, Patrick De Witt will
continue as Director of Investor Relations and Governmental Affairs
(Canada) and Armando Arrieta will continue as Director of Peruvian
Legal Affairs.

Financial Results

The Company prepares its financial statements in U.S. dollars and in
accordance with accounting policies and practices generally accepted in
Canada. Peru Copper expenses all costs not directly related to its
exploration and drilling efforts and capitalizes all exploration
expenses.

For the six months ended June 30, 2007, the Company recorded a loss of
$2.8 million as compared to a loss of $1.6 million for the six months
ended June 30, 2006. Contributing to the Company's loss was an
increase of $0.7 million in management fees and salaries from $0.3
million for the six months ended on June 30, 2006 to $1.0 million for
the same period in 2007. The increase in management fees was primarily
due to increasing and replacing management level staff.

Also contributing to the Company's loss for the six months ended June
30, 2007 was an increase in professional fees, from $0.8 million for
the six months ended June 30, 2006 to $1.0 million in the same period
in 2007. The increase in professional fees resulted primarily for
legal fees incurred in connection with negotiations relating to the
acquisition of the Company.

Expenses in the current period were offset by interest income of $0.8
million and a small foreign exchange gain of $0.1 million.

Cash and Short term Investments

Peru Copper had cash and cash equivalents of $2.1 million at June 30,
2007, compared to $5.2 million at December 31, 2006, and short term
investments of $80.1 million at June 30, 2007 and $30.4 million at
December 31, 2006. The increase in short term investments resulted
primarily from the receipt, on June 19, 2007 from Chinalco Canada B.C.
Holdings Ltd., of $65.9 million in proceeds for the private placement
of 13.2 million common shares at $4.99 per share.

Capitalized Expenses

All of the Company's $20.0 million of exploration costs for the six
months ended June 30, 2007 have been capitalized under Canadian GAAP to
exploration properties and all administration costs of the Company have
been expensed.

The bulk of the capitalized costs for the period were related to $8.3
million in acquisition and lease costs associated with the acquisition
of Minera Centenario and payments made to Austria Duvaz. These
payments were made in accordance to the agreements signed with Austria
Duvaz in 2006.

Contributing to the capitalized expenses were salaries and consulting
fees of $6.6 million that were related to costs associated with an
increasing number of consultants and employees working on the Company's
feasibility study. Supplies and general expenses totaled $1.3 million
in the current period due to the accelerated development of the
Feasibility Study and continued drilling activity.

Additional capitalized costs in the current period included drilling
expenses of $1.2 million, assay and sampling expenses of $0.6 million,
value added taxes of $0.8 million due to the purchase of supplies and
$0.6 million in stock-based compensation for workers and consultants
working directly on the Toromocho Project.

For further information please contact Patrick De Witt, Director of
Investor Relations at (604) 689-0234 or patrick@perucopper.com.

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 our public reports, 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.

CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS

This news release contains "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect to
the future price of copper and molybdenum, the timing of exploration
activities, the mine life of the Toromocho Project, the economic
viability and estimated internal rate of return of the Toromocho
Project, the estimation of mineral reserves and mineral resources, the
results of drilling, estimated future capital and operating costs,
future stripping ratios, projected mineral recovery rates and Peru
Copper's commitment to, and plans for developing, the Toromocho
Project. Generally, these forward-looking statements can be identified
by the use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "can", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Peru Copper to be materially different
from those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the exploration and
potential development of the Toromocho Project, 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-3 as on file with the
Securities and Exchange Commission in Washington, D.C. and in the
section entitled "Narrative Description of the Business -- Risks of the
Business" in the Annual Information Form of the Company dated March 24,
2005. Although Peru Copper has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, 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. Peru Copper
does not undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with applicable
securities laws.

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Copyright (c) 2007 PERU COPPER INC. (PCR) All rights reserved. For
more information visit our website at http://www.perucopper.com/ or
send mailto:info@perucopper.com
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