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News - Wednesday, August 22, 2007
Peru Copper Reports Notice of Compulsory Acquisition Sent to
Remaining Shareholders
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Vancouver, British Columbia, Canada, August 22, 2007 - Peru Copper Inc.
(TSX:PCR / AMEX:CUP / BVL:CUP) ("Peru Copper" or the "Company") reports
that it has received notice today that Chinalco Canada B.C. Holdings
Ltd. ("Chinalco") has sent the Notice of Compulsory Acquisition to all
remaining Peru Copper shareholders, pursuant to the Canada Business
Corporations Act, to acquire all shares of Peru Copper that it does not
already own. This compulsory acquisition follows Chinalco's acquisition
in a takeover bid on July 31, 2007 of approximately 91% of the shares
of Peru Copper that Chinalco and its affiliates did not own at the time
for Cdn$6.60 per share, the price offered under Chinalco's takeover bid
for all the shares of Peru Copper.

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 a Peruvian state-owned mining company, Empresa Minera del Centro
del Peru S.A. ("Centromin"), whereby Centromin granted the Company the
option to acquire its interest in the mining concessions and related
assets of the Toromocho Project. Centromin later transferred the
rights and obligations of the Toromocho Option to Activos Mineros, a
Peruvian state-owned mining entity.

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 filings with the SEC, 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
Message sent on Wed Aug 22, 2007 at 1:48:07 PM Pacific Time
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