The Board of Directors of Rugby Resources Ltd. announced results for the second drill hole, (CDH002) on its Cobrasco copper-molybdenum discovery in western Colombia. Rugby commenced drilling in August with 2,283 metres (m) completed to date. Highlights: CDH002 intersected 172m of 0.78% CuEq within a broader interval of 754m of 0.50% CuEq from a downhole depth of 152m.

A near surface mineralised zone of 70m of 0.32% CuEq was intersected from 18m. The hole was prematurely terminated at 946.1m in a wide fault zone. CDH002 was sited 400m south of CDH001 that returned 82m at 1.00% CuEq within a broader interval of 808m of 0.46% CuEq.

CDH003 was collared from the same drill platform as CDH002. It was drilled in a northerly direction to test the mineralised upper part of CDH001 to a greater depth. Well above the target depth, it encountered visually strong copper-molybdenum mineralisation from 150m to its current depth of 300.6m.

Drilling was suspended prior to Christmas and the hole is targeted to continue to a depth of 1,300m. Cobrasco mineralisation is bornite dominant with lesser chalcopyrite and molybdenite. Penalty elements (particularly arsenic) are low.

Based on this mineralogy the mineralisation would be expected to be amenable to the production of a high-grade copper concentrate using traditional mineral processing. Preliminary metallurgical testing to assess and document the metallurgy is planned. Rugby's field exploration program will take precedence over drilling in first quarter.

Additional geological mapping, rock and soil sampling and general prospecting activities are essential. This program will very likely define additional porphyry targets.