KEFI MINERALS PLC - Exploration Update Jibal Qutman Licence

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PR Newswire

London, July 31

AIM: KEFI

                                                                 31st July 2012

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                    Exploration Update Jibal Qutman Licence

KEFI Minerals, an AIM-listed gold and copper exploration company with projects in the Kingdom of Saudi Arabia, is pleased to announce initial surface exploration results from the Jibal Qutman Licence for the Company's 40%-owned Gold & Minerals Joint Venture ("G&M"). Initial results included 3.2 m at 27.7 g /t gold and 262 g/t silver.

KEFI Minerals is the operator of G&M in the Kingdom of Saudi Arabia, of which 60% is owned by partner Abdul Rahman Saad Al-Rashid & Sons Company Limited ("ARTAR"). To date, G&M has been granted four Exploration Licences and holds another 19 Exploration Licence Applications ("ELAs").

The Jibal Qutman Licence is located in the central southern region of the Arabian Shield and covers an area of 99.9km2. It is host to the prospective Nabitah-Tathlith Fault Zone, a 300km-long fault structure with over 40 gold occurences and ancient gold mines.

The Licence was granted in early July and field work carried out to date includes surface mapping and trenching across quartz veins which contain ancient workings for gold.

The prospect was previously mapped and drilled (three drill holes) by the United States Geological Survey ("USGS") in the early 1980s. The current G&M mapping and trenching programme has defined additional unmapped workings, new parallel gold-bearing veins and extended the previously known strike of the quartz vein sets at the Jibal Qutman prospect from 400m to 2.9km in length.

HIGHLIGHTS

Rock chip channel sampling results from the on-going trenching programme confirms the high grade gold and silver contained in quartz veins. The veins are generally 2-5m thick and best results from initial sampling of the unmined portions of the trenches include the following:

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  * 3.2 m at 27.7 g/t gold and 262 g/t silver
   
  * 4.0 m at 14.9 g/t gold and 84 g/t silver
   
  * 5.0 m at 10.9 g/t gold and 56 g/t silver
   
  * 4.2 m at 4.6 g/t gold and 35 g/t silver
   
  * 2.0 m at 7.2 g/t gold and 58 g/t silver and
   
  * 19.0 m at 1.9 g/t gold.

KEFI Minerals' Managing Director, Jeff Rayner, commented:

"These promising results from our initial work at the Jibal Qutman Licence confirm the presence of high grade gold and silver over substantial widths and strike lengths. Trenching continues to identify new veins for drill testing. Whilst the surface work is still only in the first pass phase, sufficient encouragement for drilling has been received and diamond drilling is scheduled to commence this quarter.

"Meanwhile drilling is in progress at the Selib North prospect and the drill rig at that site will also be mobilised to Jibal Qutman at the end of phase1 drilling at Selib North"

KEFI Minerals' Strategic Plan in the Kingdon of Saudi Arabia

İn 2009 KEFI Minerals formed the Gold and Minerals Joint Venture ("G&M") in Saudi Arabia with local Saudi partner Abdul Rahman Saad Al-Rashid & Sons Company Limited ("ARTAR"), to explore for gold and associated metals in the Arabian Shield. To date, the G&M has conducted preliminary reconnaisance and lodged 23 Exploration Licence Applications (ELA's), of which 4 have been granted.

The ELAs were initially applied for and granted to ARTAR. Incorporation of G&M is now complete and granted Licences will be transferred into G&M in due course.

The Kingdom of Saudi Arabia has instituted policies to encourage minerals exploration and development and KEFI Minerals supports this priority by serving as the technical partner within G&M. ARTAR also serves this Government policy as the major partner in G&M, which is one of the early movers in the modern resurgence of the Kingdom's minerals sector.

                                    -Ends-                                     

Enquiries

                                                                               

KEFI Minerals

Jeffrey Rayner +90 533 928 1913

Fox-Davies Capital

Simon Leathers +44 203 463 5010

Bishopsgate Communications

Nick Rome +44 20 7562 3395

References in this announcement to exploration results and potential have been approved for release by Mr. Jeffrey Rayner. Mr Rayner is a geologist and has more than 25 years' relevant experience in the field of activity concerned. He is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has consented to the inclusion of the material in the form and context in which it appears.

Further information on KEFI Minerals is available at www.kefi-minerals.com


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KEFI Minerals Plc

Doğu Akdeniz Mineralleri

San. Tic. Ltd. Şti.

Cemal Gürsel Cad.

Yalı Apt. No:304

K:4 D:9 Karşıyaka İZMİR

Tel: +90 232 381 9431

Fax: +90 232 381 9071

Email: jnfo@kefi-minerals.com

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