Chairman's

Address

Dear European Shareholders,

I would like to congratulate you on the success of your homepage, 50,000 visitors since April 2008 is a remarkable milestone.

Your homepage provides an in depth overview on Bougainville and the Panguna mine. I recommend it to anyone who is seeking coverage of more than just statutory news from the company.

As chairman of Bougainville Copper I am restricted in what I can say due to corporations’ laws. You do not have the same restrictions. Your analysis of the situation on Bougainville is appreciated.

The reality is our company needs the support and encouragement of all stakeholders.

BCL is a subsidiary of the Rio Tinto Group, which has its roots in Europe and private European investors in BCL are very welcome.

I am keen to see your website continue to develop. I hope there will further good progress toward your company’s vision to reopen the mine in the coming months.

Yours sincerely,

Peter Taylor

Chairman

Bougainville Copper Ltd.

Sydney, May 2011

Peter R. Taylor