KEFI MINERALS PLC - Jibal Qutman Drilling Update

London, November 5

HIGHLIGHTS

  * Diamond Drilling at Jibal Qutman returns encouraging intersections,
    including 7.1m at 5.85g/t Au and 7.0m at 4.29g/t Au
   
  * Two diamond drill rigs are operating 24 hours a day and 21 holes have been
    completed to-date
   

The Jibal Qutman Licence was granted in July 2012 and exploration work has progressed rapidly from surface mapping and trenching, and the commencement of the first phase of diamond drilling. Two diamond drill rigs are now in operation on 2 x 12 hour shifts and to date, 21 diamond drill holes have been completed which is approximately halfway through the 4000m planned for the first phase drill programme.

The gold mineralisation at Jibal Qutman is hosted in a series of quartz veins over a 3km zone. The main vein dips at 45° to the east, parallel veins form stringer zones around the main vein. In addition, sets of flat lying veins have been recently recognised in a separate area in the northwest and extreme south of the prospect area.

Diamond drilling is being performed on initial 100m x 25m and 50m x 25m grids. The best results from the first 10 diamond drill holes drilled over a strike length of 400m, include;

Hole No.    From    Interval    g/t Au    g/t Ag

JDQ 1       28.5m       7.5m      1.05      10.6
            66.0m       2.5m      2.47       4.2
            74.2m      10.2m      1.05      10.0

JDQ 2       44.0m       2.0m      2.95      10.3
            64.0m       1.0m     11.67     249.0

JDQ 3       32.0m       6.0m      2.50      27.8

JDQ 4       39.0m       4.0m      1.72      22.7
            50.0m       3.0m      1.11       5.2

JDQ 5       30.0m       7.0m      4.29       5.8
            45.0m       1.0m      3.94       1.0

JDQ 5A      30.0m       8.9m      1.68   pending
(including) 33.4m       1.6m      8.40   pending

JDQ 6       46.0m      11.0m      1.51       3.2
            61.0m       1.0m      1.53       2.7

JDQ 7       25.4m       1.6m      9.01   pending
            42.4m       7.1m      5.85   pending

JDQ 8        5.5m      10.0m      1.11   pending
            35.4m       2.0m      1.21   pending
            74.1m       2.5m      4.98   pending

[JDQ 9 pending]

[JDQ 10 pending]

JDQ 11      25.8m       3.0m      0.82   pending
            35.8m       8.3m      1.38   pending

Notable assay results for the remaining 11 drill holes will be announced in due course.

KEFI Minerals' Managing Director, Jeff Rayner, commented: