Ann: Quarterly Activities Report , page-2

Very interesting little copper number with $4m in cash. Undiluted cap of $3m with 42m shares on offer. Listed at 20c in mid 2008.

Please note the Managing Director Presentation to Club 13 released on the 19/06/09.

From latest letter to shareholders:

"As was highlighted in the original prospectus, we still do not have the right to mine in the old Burra pit. We have therefore prepared a detailed report on all our research entitled “Burra Copper Mine –The Third Phase of Production”.

This report has been presented to The Minister for Mineral Resources Development with a request that the current government imposed “reserve” be partially lifted to permit drilling and thorough testing of the site and environs to validate our research findings.

Phoenix Copper anticipates, with some quiet confidence, that we will subsequently be allocated the full mineral rights to this area.

At the same time we have been studying and surface exploring the Princess Royal tenement which also indicates very positive signs of copper in several locations.
At Mongalata we have identified another gold prospect which we will drill as soon as an appropriate drill rig can be identified and committed."