MTX
MEMTX                                                                           
MTX - Metorex Limited - Announcement and further cautionary announcement        
METOREX LIMITED                                                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1934/005478/06)                                            
Share code: MTX                                                                 
ISIN: ZAE000022745                                                              
Issuer code: MEMTX                                                              
("Metorex")                                                                     
ANNOUNCEMENT AND FURTHER CAUTIONARY ANNOUNCEMENT                                
Shareholders are referred to the Copper Resources Corporation ("CRC" or "the    
Company") announcement released on AIM earlier today.                           
The salient features of this announcement are detailed below:                   
*    CRC has launched an Offer for Subscription, under which it proposes to     
    raise up to US$25 million (before expenses) primarily to provide working    
    capital for the Company and to convert a loan from Metorex of approximately 
US$25 million.                                                              
*    The Offer for Subscription is being made to enable all existing CRC        
    shareholders ("Shareholders") to participate only on a pro rata basis with  
    57 Subscription Shares being offered for every 10 Common Shares held by     
Shareholders as at the Record Date of 4 February.                           
*    Subscription Price of 7 pence per Subscription Share.                      
*    Metorex has elected to participate in the Offer for Subscription on a pro- 
    rata basis through the conversion of approximately US$25 million of its     
loan to CRC which stood at US$29.5 million as at 31 January 2009 (including 
    interest) ("the Metorex Loan").                                             
*    If no other Shareholders participate in the Offer for Subscription, the    
    conversion of the Metorex Loan will result in Metorex holding approximately 
87% of the enlarged issued share capital.  The Offer for Subscription is    
    not being underwritten.                                                     
*    Assuming the Offer for Subscription is fully subscribed, the net proceeds  
    will substantially be used to provide working capital to CRC and its        
subsidiaries for approximately 12 months and for the repayment of the       
    outstanding amount of the Metorex Loan which Metorex has not elected to     
    convert pursuant to the Offer for Subscription, of approximately US$4.5     
    million as at 31 January 2009, together with any subsequent amounts drawn   
down and accrued interest thereon.                                          
*    The Subscription Price represents a 27.8% discount to the prevailing       
    weighted average CRC price of approximately 9.7 pence per Common Share for  
    the 30 days to 6 February 2009, and a discount of 6.7% to the mid closing   
CRC price of 7.5 pence per Common Share on 6 February 2009.                 
*    A General Meeting of CRC has been convened for 24 February 2009 in South   
    Africa, at which Shareholders who are entitled to vote will be asked to     
    consider and, if thought fit, approve a resolution in order to enable CRC   
to cancel the admission of its Common Shares to trading on AIM.   If        
    Shareholders approve the resolution to cancel admission of the Common       
    Shares to trading on AIM, such cancellation will be effected prior to the   
    allotment and issue of Subscription Shares.                                 
This announcement is available on the CRC website at www.copperresources.com.   
Further cautionary announcement                                                 
In terms of the Listings Requirements of the JSE Limited ("JSE") this           
transaction is categorised as a Category 2 transaction for Metorex.             
Accordingly, shareholders are referred to the cautionary announcements dated 27 
November 2008,          4 December 2008 and 3 February 2009 and are advised to  
continue to exercise caution when dealing in their Metorex shares until a       
detailed announcement in terms of this transaction, including the pro forma     
financial effects, are made.                                                    
Rosebank                                                                        
10 February 2009                                                                
Sponsor on the JSE to Metorex                                                   
Barnard Jacobs Mellet Corporate Finance (Pty) Limited                           
College Hill             Tel:      011-447 3030                                 
Jacques de Bie           Cell:     082-691 5384                                 
Hayley Crane                                                                    
Date: 10/02/2009 10:50:03 Produced by the JSE SENS Department.                  
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