For immediate release: 0700hrs 10 April 2012

Copper Development Corporation

(“CDC” or “the Company”)

High Grade Intersections at Basay Southeast Deposit Add Newly Discovered

Extensions at Depth and on Strike to the East

Highlights

Hole 50, drilled in a previously unexplored area east of the Southeast deposit intersects 111

metres of 0.51% Cu from 51 metres, and represents a previously unknown extension of this

deposit.

Hole 47, drilled at depth near the western limit of the Southeast deposit intersects 174 metres of

0.62% Cu from 156 metres, and also represents an area of previously unknown mineralisation.

On the basis of recently completed geochemical, geophysical and geological information, the

Company has designed a new step out and exploration drilling programme to identify the most

prospective targets, including the depth and strike extensions of the known mineralisation;

prominent coincident induced polarisation (IP), magnetic and geochemical anomalies; as well as

attractive potential supergene deposits that could host substantial easily minable near surface

resources.

Copper Development Corporation (AIM: CDC) is pleased to report that assay results from drill holes

BSM047 to BSM050 at its Basay Project on Negros Island, Philippines are extending areas of known

mineralisation at depth, and particularly along strike to the east of the major Southeast deposit.

Assay Results

Southeast Deposit

Hole BSM047 was drilled on section 16925mE toward the south to test the western extension of the high

grade zone within the Southeast deposit at a shallow plunge. The hole intersected 174 metres at 0.62%

Cu from 156 metres. This hole confirms that the high grade zone encountered in BSM041 located 75

metres to the east, that intersected 271 metres at 1.0% Cu from 357 metres (0.25% Cu cut-off) is likely to

extend to the west and below BSM047. This high grade shoot lies at the intersection of the northwest

striking Northwest-Central mineralised zone and the ENE striking Southeast mineralised zone and is sub-

vertical. The shoot is largely composed of intensely stock worked hypothermal quartz veins hosted by

potassic biotite altered andesite intruded by mineralised diorite dykes. Further drilling will be required

underneath and down dip of BSM047 to investigate this high grade shoot.

Hole BSM050 (collared at 17525mE) was drilled from north to south beyond the eastern most section of

the main Southeast ENE striking mineralised zone to investigate a north-eastern offset of the Southeast

deposit. The hole intersected 111 metres at 0.51% Cu from 51 metres depth, from a shallow plunging

drill-hole. Previous drilling and further recent mapping in this area indicated that a north-south striking

fault has offset the Southeast deposit. This hole has intersected significant mineralisation east of the

truncating fault and establishes the presence of a new extension of the deposit. Further drilling is now

planned to cover the area to the east which may extend for at least 750 metres, based on analysis of the

ground magnetic survey.

The drilled portion of the Southeast mineralised zone is now 1 kilometre in length and remains open at

depth and to the west and east. Four drill rigs are now drilling the extensions and depths of the Southeast

deposit, which looks highly prospective.

Central Deposit

Drill hole BSM048 (section 16600mE) was drilled from north to south in the shallowest part of the Central

deposit and failed to intersect any significant mineralisation thus closing off the upper part of the

mineralised zone.

A new interpretation has been developed for the Central deposit which suggests that there is likely to be

more mineralisation in the deeper parts of the Central deposit, particularly to the east and sub-parallel to

the Southeast deposit. Further deep drilling has been designed to test at depth this outcropping area of

broad phyllic alteration and low grade mineralisation.

Northwest Deposit

Additional results have been received for drill hole BSM049, which was drilled in the Northwest deposit.

Drill hole BSM049 (section 900mNW) was drilled within the Northwest mineralised corridor and

intersected 150 metres at 0.16% Cu from 207 metres, which appears to close off the significant

mineralisation to the northwest in the Northwest deposit. Further interpretation of these results is required

in context of the widespread phyllic alteration.

The next intersection along strike toward the Northwest deposit is on section 750mNW in drill hole

BSM044 and intersected 224 metres at 0.32% Cu from 20 metres depth.

Summary Drill Intercept Data for BSM047 to BSM050

Hole ID From To Length Cu%

Au

ppm

Ag

ppm

Mo

ppm Deposit

Section

(m)

BSM047 156 330 174 0.62 0.074 2.2 55 Southeast 16925E

BSM048 No results Central 16600E

BSM049 207 357 150 0.16 0.009 1.3 93 Northwest 900NW

BSM050 51 162 111 0.51 0.046 2.5 106 Southeast 17525E

Note: All composite assays are based upon a 0.25% Cu cut-off grade and a maximum internal waste of 6 metres, except

BSM049, which is based on 0.1% Cu cut-off grade.

Ongoing Exploration Programme

After careful compilation of recently completed geochemical, geophysical and geological information, the

Company has designed a new step out and exploration drilling programme, within the scope of the

44,000 metres of drilling planned at Basay for 2012, to test several co-incident geochemical and

geophysical anomalies, as well as the depth and strike extensions of the known mineralisation. In

addition, the Company intends to twin several shallow historic holes in the Bunkville area, which

intersected supergene copper mineralisation, with a view to establishing a resource in this area. The

following immediate drill targets have been identified:

1. Northeast Extension – This is the extension of the Southeast deposit, which has been confirmed

by the intersection from drill hole BSM050. Initially two step out holes are planned to test the

strike extension for another 300 metres.

2. Pipe Target – This prominent IP anomaly, which is coincident with a strong structure identified by

magnetic surveys, occurs beneath lateritic cover, which is anomalous in copper and

molybdenum, and is located near the most south eastern point of the Southeast deposit (Figure

1). This is a well-defined, pipe-shaped structure as determined by the IP anomaly and is a priority

target for the discovery of previously unknown mineralisation.

3. South Bunkville – This is another prominent IP anomaly similar in shape and size to the Pipe

Target and it also occurs under lateritic cover. This target is also coincident with a copper and

molybdenum soil anomaly. The target will be tested initially with one diamond drill hole.

4. Bunkville Laterite – Historic drilling at Bunkville encountered several intersections of shallow

supergene copper mineralisation, some of which was mined during previous operations. The

Company intends to twin these historic holes using reverse circulation (RC) drilling methods to

determine rapidly the viability of this supergene copper deposit. If the initial holes are successful

then the lateritic cover will be grid drilled at 200 metres spacing in hopes of developing an

additional supergene copper resource at relatively low cost.

5. Northwest Extension and other Geochemical Targets – The Company currently has a team of

mappers and samplers who are conducting ground verification of the large areas of anomalous

copper and molybdenum, particularly the area along strike of the Northwest deposit. Any areas

found to contain significant mineralisation or alteration may be drilled in the future.

6. Southeast Depth Extension – The highly successful drill hole BSM041 contains the best and

deepest intersection to date at the Southeast deposit and the Company’s strategy is to target this

extension as it is the most likely to deliver large tonnages of high grade resources. The

mineralisation is still largely contained within potassic altered andesite and narrow quartz diorite

dykes. The target is the source intrusive at depth, which feeds the system currently being drilled.

Several deep drill holes up to or exceeding 1 kilometre in depth are planned. In addition, the

Southeast deposit remains open to the west and this extension will also be targeted at depth.

7. Nabore Depth Extension – The Nabore deposit, which was previously tested by the highly

successful drill hole BSM015, encountering 131 metres of 0.95% Cu including 14.3 metres of

5.47% Cu, is still open at depth and to the east and several drill holes are planned to test the

extensions of this resource.

Mitch Alland, Executive Chairman of CDC, commented:

“Hole 50 is highly significant, as it is a new discovery of the eastern extension of the Southeast Deposit in

an area that had never been previously drilled. This extension, based on magnetic signature, has the

potential to double the resource at the Southeast Deposit. Also, Hole 47 at the Southeast Deposit, with its

long, high grade intersection of 0.62% copper, is an important demonstration of the previously unknown

extension of this deposit at depth along its western edge, which has the potential to add more substantial

tonnage to our resources at Basay. Overall, we have completed an in depth review of all new geological

information and have used sophisticated techniques to identify new drill targets that show promise to be

major extensions at depth and on strike of known resources. In addition, areas of known supergene

copper mineralisation are targeted which may potentially add easily mineable resources to the overall

project. With these new targets and ongoing growing knowledge of the geology of Basay, we feel that the

next two months of drilling will be highly productive in our goal of realising these deposits as a major,

world class copper project.”

Glossary

Ag = silver

Au = gold

Cu = copper

g/t = grams per tonne

IP = induced polarisation

Mo = molybdenum

ppm = parts per million

RC = reverse circulation

Figure 1 Basay Drilling Plan

Figure 2 – Basay Regional Cu geochemistry, geology and ground magnetic survey

The technical information contained in this announcement has been reviewed by Brian Lueck, COO and

Director of CDC. Mr Lueck is a practicing member of the Association of Professional Engineers and

Geoscientists of British Columbia. Mr Lueck has sufficient experience relevant to the style of

mineralisation and type of deposit under consideration and to the activity which he is undertaking, to

qualify as a Qualified Person for the purposes of this announcement.

- Ends –

Contact details

Copper Development

Corporation

Beaumont Cornish

Limited GMP Securities GTH Communications

The Company Nomad Broker Financial PR

Mitch Alland Roland Cornish Richard Greenfield Toby Hall

Suzanne Johnson Walsh

+44 (0)1624 639396 +44 (0)20 7628 3396 +44 (0)20 7647 2800 +44 (0)20 3103 3902