Cobre Exploration Corp. Graduates to TSX Venture Exchange Tier 2

VANCOUVER, Dec. 3 /CNW/ - Cobre Exploration Corp. (TSX-V: CKB.H) (the "Company") is pleased to announce that the TSX Venture Exchange has accepted the Company's Change of Business (the "COB") filing and related transactions. The COB includes the following items, all of which have been accepted by the Exchange.

The acquisition of a 60% interest in the Iron Lake Property. Please refer to the Filing Statement available on SEDAR for additional information.

The Non-Brokered Private Placement which closed on November 2, 2010 for gross proceeds of $937,750.00. The Company issued 4,262,500 units at a price of $0.22 per unit. Each unit consists of one common share and one-half share purchase warrant with an exercise price of 0.35 cents. Two half share purchase warrants will entitle the holder to purchase one common share of the Company until November 2, 2012 at a price of $0.35. A finder's fee was paid which included aggregated cash commissions of $60,104 and the issuance of 273,200 warrants which have the same terms as the private placement share purchase warrants.

In addition, the Company has met all requirements for graduation from the NEX to the TSX Venture Exchange and will be listed as a Tier 2 issuer. The Company's Tier classification will change effective December 3, 2010 from NEX to Tier 2 and the Filing and Service Office will change from NEX to Vancouver. The Company's symbol will change from CKB.H to CKB.

The Company's strategy, along with its Iron Lake commitments, is to acquire gold projects in North America including Mexico that have mineable resources ready for development, and moving them to production. Additional resource growth will come through continued exploration of the property position associated with the mine development. Cobre believes this strategy is a formula for building a strong and lasting company.

On behalf of the Board,

Allan W. Williams
President

Transfer Agent:					Olympia Trust Company
Trading Symbol:					CKB  (NEW)
CUSIP Number:					191044 20 5 (UNCHANGED)

For further information:

Terri Anne Welyki
T: 604.681.6855