Good morning, KEFI Minerals is pleased to announce that it has conditionally raised �625,000 (before expenses) by way of a placing by Optiva Securities Limited, WH Ireland Limited and WHI Stockbrokers Limited of 50 million new ordinary shares of 1p each at 1.25p per share. The purpose of this Placing is to progress the exploration programs that the Company is currently working on in Turkey and especially in the Kingdom of Saudi Arabia were it is targeting gold discoveries in excess of one million ounces. In Saudi Arabia KEFI Minerals has lodged a total of 21 Exploration Licence Applications ("ELAs") covering an area of approximately 2,100km2.

Saudi Arabias Deputy Ministry for Mineral Resources has completed site visits at six of the 21 ELAs to date.

The Company expects the imminent granting of one exploration licence and has been informed that five other licences are at an advanced stage of process and are anticipated to be granted in the near future.

The Company expects to be progressing work on the ground immediately upon granting of the first licence and funds will be used to quickly progress exploration on the licence, identify drill targets and commence drill programmes. Jeff Rayner, Managing Director of KEFI Minerals, commented - "The Board of KEFI Minerals believes that the Kingdom of Saudi Arabia will have a central role in the Companys future.

The potential for the discovery of large one million ounce gold deposits in this region has been proven; and we believe that by applying our expert knowledge and modern exploration techniques we are in a strong position to quickly advance the prospects we have identified.

KEFI Minerals personnel have been on the ground in Saudi Arabia for nearly two years and have identified prospects which we believe hold the potential for significant gold discoveries." Please refer to the attached release for further details. For further information contact: Jeffrey Rayner, KEFI Minerals plc Tel: +90 533 9281913 Katy Mitchell, W.H.

Ireland Ltd.

Tel: +44 (0)161 832 6644 Jason Robertson, Optiva Securities Limited Tel: +44 (0)203 137 1906 Jeremy King, Optiva Securities Limited Tel: +44 (0)203 137 1904 Michael Kinirons, Bishopsgate Communications Tel: +44 (0)20 7562 3395
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