GCR Gespeg Resources Ltd

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES 


GESPEG COPPER RESOURCES INC. (TSX VENTURE:GCR) (the "Company" or "Gespeg"),
announces that it intends to conduct a non-brokered private placement of up to
14,000,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds
of up to $700,000 (the "Offering"). Each Unit will consist of one common share
of the Company (a "Common Share") and one-half of a Common Share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder
thereof to purchase one Common Share at a price of $0.15 for a period of 24
months from the closing of the Offering. The Units will be made available by way
of prospectus exemptions in Canada and in such other jurisdictions as the
Company may agree where the Units can be issued on a private placement basis,
exempt from any prospectus, registration or other similar requirements. 


The Company may pay a finder's fee in connection with the Offering within the
amount permitted by the policies of the TSX Venture Exchange (the "TSX-V").
Closing of the Offering is subject to a number of conditions, including receipt
of all necessary corporate and regulatory approvals, including the TSX-V. All
securities issued in connection with the Offering will be subject to a statutory
hold period of four months plus a day from the date of issuance in accordance
with applicable securities legislation. 


The net proceeds from the Offering will be used by the Company to fund the
exploration work on the Company's Vortex and Port Daniel project, and for
general and administrative purposes.  


The Company also announces that it entered into a shares for debt agreement (the
"Shares for Debt Agreement") with an arm's length creditor (the "Creditor").
Pursuant to the Shares for Debt Agreement the Company will settle $35,000 of
debt by issuing the Creditor 700,000 Common Shares at a deemed price of $0.05
per Common Share. The Shares for Debt Agreement is subject to TSX-V approval and
the 700,000 Common Shares will be subject to a statutory hold period of four
months and a day from the date of issuance.


About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a
focus on copper, especially in a grossly underexplored region "Gaspe, Quebec".
With a dedicated management team, the Company's goal is to create shareholder
wealth through the discovery of new deposits. 


FORWARD LOOKING INFORMATION

Some of the statements contained in this press release are forward-looking
statements and information within the meaning of applicable securities laws.
Forward-looking statements and information can be identified by the use of words
such as "expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be taken, occur
or be achieved. Forward-looking statements and information are not historical
facts and are subject to a number of risks and uncertainties beyond the
Company's control. Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the forward-looking
statements contained in this news release. Accordingly, readers should not place
undue reliance on forward-looking statements. The Company undertakes no
obligation to update publicly or otherwise revise any forward-looking
statements, except as may be required by law.


Neither TSX Venture Exchange nor its Regulations Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sylvain Laberge
President and CEO
514.380.5610
514.702.9841
Slaberge@gespegcopper.com

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