Visual Studio referenced assembly CopyLocal doesn't work

Question

I have a Console application and a Class Library in a solution. Whenever I reference class library from console application it finds it but after building the solution it cannot find the type.

Although CopyLocal is set to true but the referenced assembly is not copied !

Answer 1

The reason was my console application target framework was Client Profile. Changing it to .NET 4.0 resolved the problem.

Answer 2

Is the referenced assembly in the Global Assembly Cache? Assemblies that are installed in the GAC are not copied to the output folder, even when CopyLocal is true.