Campbell Reports Second Quarter 2007 Financial Results, Provides Summary of Activities
Achievements to date in 2007 position Campbell for strong second half

MONTREAL, August 3, 2007 -- Campbell Resources Inc. (TSX:CCH; OTC Bulletin Board:CBLRF, www.campbellresources.com) today announced financial and operating results for the second quarter and six months ended June 30, 2007. During and subsequent to the second quarter, the Company:

• Raised $11 million in convertible debt and equity, including the final $4 million to finance completion of development of the high-grade Corner Bay copper deposit.
• Awarded contract for Corner Bay development to CMAC-Thyssen, who began mine development in early May and to date has completed approximately 350 metres of the 700 metre decline.
• Initiated dewatering and other preliminary work on the Merrill Pit copper deposit while waiting for the obtention of the environmental permit.
• Implemented the Alimak mining system to increase ore production and improve ground conditions at Copper Rand with blasting of the first block and completion of the second Alimak raise in July.
• Increased gold production by 26%, copper production by 9% and silver production by 25% over the first quarter of 2007.

"We are very pleased with the progress we are making in getting Copper Rand production to where we feel it should be," said Andr� Fortier, President and CEO. "With the implementation of the Alimak mining system, which will increase ore availability, decrease waste and improve ground control, we are forecasting much improved results from Copper Rand in the second half of the year. This increased production, along with high grade ore from Corner Bay and the mining of the Merrill Pit, will go a long way toward achieving our objecting of maximizing throughput at the Copper Rand mill, decreasing unit costs and improving financial performance."

FINANCIAL RESULTS

In the second quarter, consolidated metal production improved sequentially, increasing over the first quarter of 2007 as follows: gold production by 26%, silver production by 25%, and copper production by 9%.

On January 1, 2007, the Company signed a concentrate sales agreement with Ocean Partners UK Limited. Under terms of the agreement, Campbell recognizes revenue once Ocean Partners takes delivery of the concentrate. The first shipment will be made shortly, with at least two more shipments of a minimum of 5,000 tons of concentrate to be made before year end.

As a result, $8.5 million of inventory, representing concentrate produced by Campbell during the first and second quarters of 2007 and stored at the Port of Quebec, will be recognized as revenue during the third and fourth quarters. Provisional payment of $7.6 million for concentrate inventory shipped but not priced has been booked under current liabilities. Inventories at June 30, 2007 were 5,511 ounces of gold and 2,018,582 pounds of copper, compared with 426 ounces of gold and 18,432 pounds of copper at the end of the second quarter of 2006.

For the second quarter, Campbell recorded a net loss of $4.3 million or $0.01 per share on net metal sales of $1.2 million. This compares with a net loss of $1.8 million, or $0.02 per share, on net metal sales of $3.5 million for the same period in 2006. Cash used by operating activities was $1.2 million in the second quarter of 2007, compared with $0.9 million in the second quarter of 2006.

For the first six months of 2007, the net loss was $6.1 million, or $0.02 per share, on net metal sales of $2.8 million, compared with a net loss of $4.1 million, or $0.04 per share, on net metal sales of $5.9 million for the corresponding period in 2006.  Cash used in operating activities was $2.7 million for the first six months of 2007, compared with $1.6 million for the same period in 2006.

Mining costs in the second quarter were $4.5 million, compared with $3.4 million in the second quarter of 2006. In the first six months of 2007, mining costs were $9.6 million, versus $6.2 million in the first six months of 2006.

The increase in mining costs was primarily due to the inclusion of expenses from the Copper Rand Mine, which achieved commercial production on January 1, 2007. Previously, results from Copper Rand were capitalized.

Consolidated mining expenses include the development of Alimak raises at both the Copper Rand and Joe Mann mines, additional rehabilitation costs and development at the Copper Rand Mine that will improve ground conditions and improve production going forward, definition drilling at both Copper Rand and Joe Mann, and training programs for new employees.

Joe Mann Mine
In the second quarter of 2007, metal production at Joe Mann increased over the first quarter of 2007 as follows: gold production increased by 31% to 3,952 oz, despite a 22% quarter-over-quarter decrease in grade; copper production increased by 84% to 122,065 pounds; and silver production increased by 71% to 2,670 ounces.

For the first six months of 2007, Joe Mann produced 6,971 ounces of gold, 188,500 pounds of copper and 4,234 ounces of silver, compared with 7,729 ounces of gold, 282,829 pounds of copper and 5,701 ounces of silver in the same period of 2006.

Copper Rand Mine
Gold and copper production in the second quarter increased by 10% and 3% respectively over the first quarter to 969 ounces of gold, with a 2% increase in grade, and 922,132 pounds of copper, despite an 8% decrease in grade, quarter over quarter. Silver production totalled 2,210 ounces.

For the first six months of 2007, Copper Rand produced 1,817,338 pounds of copper, 1,852 ounces of gold and 4,560 ounces of silver, compared with 1,813,447 pounds of copper, 2,199 ounces of gold and 5,133 ounces of silver for the corresponding period of 2006.

OUTLOOK

The Company is forecasting a much improved second half of 2007 due to an expected increase in output at Copper Rand, the start of mining at Corner Bay, and the delivery of the long-awaited certificate of authorization by the Qu�bec Ministry of Environment that will allow the start of mining at the Merrill Island open pit.

Copper Rand
In line with Campbell's goal of increasing throughput at the Copper Rand Mill, Alimak stope preparation is progressing well. In addition, the ramp to bypass the groundfall area will become operational by mid-August and will facilitate access to levels 4500 and above. Development is also progressing towards the 01-1 East Extension and the 44-4 veins. In addition, construction of the ramp to the 4870 level has begun, with the ore zone expected to be reached by November, and stope preparation will be initiated shortly on level 3950 in order to access additional ore.

Corner Bay
To date, the contractor CMAC-Thyssen has excavated more than 350 meters of ramp. One heading is approaching the 55-meter level where ore is expected to be intersected by the end of August. The second heading is progressing towards levels 85 and 100 meter from where a bulk sample of about 40,000 tonnes of development ore at an expected grade of 3.70% Cu will be extracted. In total, about 700 meters of decline and 1,500 meters of horizontal development on three levels will be done, and the milling of material from the bulk sample is scheduled to begin in October of this year.

Following the extraction of the bulk sample, Campbell's intends to continue the development of the project in order to bring it to production stage. Exploration drilling has shown deep ore intersection at 1,250 meter below the surface with a 6.3 meter intercept (true thickness) @ 9.27% Cu. To date, the Corner Bay project resources are estimated at: measured: 181 000 T @ 5.07% Cu, indicated: 265 000 T @ 5.93% Cu, inferred: 1 441 000 T @ 6.76% Cu (Ref.: GEOSTAT Technical Report, July 2006, available on SEDAR at www.sedar.com).

Merrill Pit
Site preparation at this former producer is progressing well, with dewatering of the pit and upgrading of the access road underway. Engineering work has begun in order to begin mining as soon as the required environmental permitting is granted.

Joe Mann
As previously announced, production at Joe Mann mine should end at the end of August. The Company still intends to complete the previously announced drilling program to test the continuity of the Joe Mann orebody at depth, however this has been delayed due to the shortage of Diamond drill rigs. The property will be kept on care and maintenance status until the drilling program is completed.

Certain information contained in this release contains "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and is subject to certain risks and uncertainties, including those "Risk Factors" set forth in the Campbell's current Annual Report on Form 20-F for the year ended December 31, 2006. Such factors include, but are not limited to: differences between estimated and actual mineral reserves and resources; changes to exploration, development and mining plans due to prudent reaction of management to ongoing exploration results, engineering and financial concerns; and fluctuations in the gold price which affect the profitability and mineral reserves and resources of Campbell. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Campbell undertakes no obligation to release publicly any revisions to these forward-looking statem ents to reflect events or circumstances after the date hereof or to reflect unanticipated events or developments.

For more information:

Campbell Resources Inc.
Andr� Fortier, President and Chief Executive Officer
Tel.: 514-875-9037
Fax: 514-875-9764
afortier@campbellresources.com 

Renmark Financial Communications Inc.
Henri Perron, hperron@renmarkfinancial.com
Philippe DeSerres : pdeserres@renmarkfinancial.com
Tel.: 514-939-3989
Fax: 514-939-3717
www.renmarkfinancial.com 

CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Expressed in thousands of Canadian dollars)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(Expressed in thousands of Canadian dollars except per share amounts)