Peru Copper reports Notice of Compulsory Acquisition sent to remaining shareholders

    VANCOUVER, Aug. 22 /CNW/ - 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.

    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


    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.

For further information:

For further information: Patrick De Witt, Director of Investor Relations
at (604) 689-0234 or

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