Getty rejects Report on Business article as false and misleading

    Trading Symbol TSX:V GTC

    COQUITLAM, BC, Nov. 1 /CNW/ - Bruce Livesey's unflattering article in the
G&M's November Report on Business contains numerous inaccuracies and
omissions. These will be detailed by Getty in the next few days. A few of the
half-truths in the article are noted here for the sake of immediately
correcting the record on some important points. Mr. Livesey states that John
Lepinski, Getty's managing director, has refused all interview requests. This
is true, as there are ongoing lawsuits. What Mr. Livesey does not disclose to
his readers is that an extensive list of written questions was answered for
him in detail. Virtually none of those written answers made it to print.
    As an example of his half-true approach to investigative journalism, Mr
Livesey tells how a director who joined the board in June, 2003 later became
"alarmed" about the 2002 agreement whereby Getty acquired the Getty South
deposit from Mr Lepinski's company. What Mr. Livesey does not tell his readers
is that the so-called alarming agreement was put on the public
securities filings website as part of a March 4, 2003 filing, some three
months before the transaction completed and 4 months before that director
joined the Board. Mr. Livesey knew or should have known (but didn't say) that
the new director's close associates were both at the shareholders meeting
where the agreement was tabled and approved.
    Much ado is made by Mr. Livesey about a 2004 negative opinion of a law
firm hired by the newly dissident directors about the Getty South agreement
and related matters. This early stage opinion was premised on factual errors.
Moreover, Mr. Livesey was advised, but did not disclose, that another
independent lawyer (hired by an underwriter in a $2 million financing in 2003)
had reviewed the "alarming" Getty South agreement and raised no concerns about
it. In the same fashion, Mr Livesey accepts without question the opinion of
the first mining valuator hired by Getty who later flip-flopped on his
original opinion. Mr. Livesey simply ignored the fact, of which he was aware,
that a much larger and more prominent engineering firm provided a report
disagreeing with the first valuator. He also conveniently fails to note that
the stock exchange regulators who were in fact very closely following this
dispute, did not accept for filing the flip-flop opinion from the valuator.
    For Mr. Livesey to allow references to the Getty South property dispute
to be likened to a "baby-BreX" is outrageously reckless and misleading and he
knows it. The Getty South acquisition was booked in Getty's financial
statements at a modest $1.08 million. All historical drilling data related to
the project had been fully publicly disclosed. About $5 million had been spent
on drilling, trenching and underground workings on the property by previous
operators. The only legitimate debate has been about the reliability of the
many and varying opinions over twenty years about what the ultimate size and
grade of Getty South will prove to be. The latest NI 43-101 Getty South
Report, filed on SEDAR on July 19, 2007, shows an independently estimated
inferred resource of 28,160,000 tonnes grading 0.47% copper which, if
substantiated, could represent as much as 145 million pounds of in-situ copper
in Getty's 50% share.
    Mr. Lepinski commented: "Getty continues to advance activities on its
Highland Valley properties. As announced on August 24, 2007, following the
recent finalization of both the Getty North and Getty South NI 43-101 resource
reports completed by Vector Engineering Inc. under the direction of Mr. Craig
L. Parkinson, P.G., an independent Qualified Person, Getty has engaged West
Coast Environmental and Engineering to commence a pre-feasibility engineering
study focused on potential cathode copper production. This work is well under
    He continued: "This project work is far more important to Getty and its
shareholders than Mr. Livesey's attempt to breathe new life into an old story.
One is left to wonder why he thought the effort worthwhile."
    This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, especially those that address estimated
resource quantities, grades and contained metals, are forward-looking
statements because they are generally made on the basis of estimation and
extrapolation from a limited number of drill holes and metallurgical studies.
Although diamond drill hole core provides valuable information about the size,
shape and geology of an exploration project, there will always remain a
significant degree of uncertainty in connection with these valuation factors
until a deposit has been extensively drilled on closely spaced centers which
has occurred only in specific areas on the Getty Project. Although the Company
believes the expectations expressed in its forward-looking statements are
based on reasonable assumptions, such statements should not be in any way
construed as guarantees of the ultimate size, quality or commercial
feasibility of the Getty Project or of the Company's future performance.
Subsequent results and developments may differ materially from those
postulated in the estimates and forward-looking statements. Other factors that
could cause the Company's actual results and performance to differ materially
from those in forward-looking statements include adverse market prices for
metals, the conclusions of detailed feasibility and technical analyses, lower
than expected grades and quantities of resources, mining rates and metal
recovery rates and the fact that necessary capital may not be available to the
Company on terms acceptable to it or at all. The need for compliance with
extensive environmental and socio-economic rules and practices and the
requirement for the Company to obtain government permitting can cause a delay
or even abandonment of a mineral project. The Company is subject to the
specific risks inherent in the mining business as well as general economic and
business conditions. For more information on the Company, Investors should
review the Company's annual Form 20-F filing with the United States Securities
Commission and its home jurisdiction filings that are available at

    Information Concerning Estimates of Measured, Indicated and Inferred

    This news release also refers to reports that use the terms, 'indicated
resources' and 'inferred resources'. Getty Copper Inc. advises investors that
although these terms are recognized and required by Canadian regulations
(under National Instrument 43-101 Standards of Disclosure for Mineral
Projects), the U.S. Securities and Exchange Commission does not recognize
them. Investors are cautioned not to assume that any part or all of the
mineral deposits in these categories will ever be converted into reserves. In
addition, 'inferred resources' have a great amount of uncertainty as to their
existence, and economic and legal feasibility. It cannot be assumed that all
or any part of an Inferred Mineral Resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of Inferred Mineral Resources may
not form the basis of feasibility or pre-feasibility studies, or economic
studies except for Preliminary Assessment as defined under 43-101. Investors
are cautioned not to assume that part or all of an inferred resource exists,
or is economically or legally mineable.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    Dr. Corby G. Anderson, President and COO

For further information:

For further information: Dr. Corby G. Anderson, GETTY COPPER INC., 1000
Austin Avenue Coquitlam, BC, V3K 3P1, Phone: (604) 931-3231, Fax: (604)

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Getty Copper Inc.

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