KEFI MINERALS PLC - Result of GM

AIM: KEFI

                                                                27 December 2013

                               KEFI Minerals plc

                      ("KEFI Minerals" or the "Company")
                          Results of General Meeting

KEFI Minerals, the AIM-quoted gold and copper exploration and development
company, announces that all resolutions proposed at the General Meeting held
today in Sydney, Australia were duly passed by the members.

As a result, the Company now has approval to complete the placing and
acquisition of 75% of the issued share capital of Nyota Minerals (Ethiopia)
Limited - a wholly owned subsidiary of Nyota Minerals Limited ("Noyota") and
the holder of the Tulu Kapi exploration licence and surrounding exploration
licences (as announced on 11 December 2013).

Background information

Tulu Kapi was first mined in the 1930s and a DFS (Definitive Feasibility Study)
was completed in December 2012, which produced a Probable Reserve of 17Mt at
1.82g/t Au (1.0Moz Au) based on an JORC-compliant Inferred and Indicated
Resource estimate of 25Mt at 2.34g/t Au (1.9Moz Au). This DFS was based on the
work performed to that date, which comprised over 120,000m of drilling and an
aggregate expenditure of over $50 million.

KEFI Minerals has devised an alternative approach at Tulu Kapi, which it
believes will reduce the anticipated capital and operating expenditure, and
should allow for a lower start-up risk and a higher overall return. Working in
partnership with Nyota, KEFI Minerals plans a limited programme of RC drilling,
surface sampling and metallurgical test work and additional verification of the
refined engineering estimate in 2014. This will allow KEFI Minerals to refine a
DFS for planned development in 2015, based on a production of approximately
85kozpa Au.

KEFI Minerals is now positioned as an operator of two gold development projects
within the highly prospective Arabian-Nubian Shield which has been its primary
focus since 2008: Tulu Kapi in Ethiopia and Jibal Qutman in Saudi Arabia, both
of which have significant resource growth potential beyond the deposit
estimates already reported. By 2017, the aggregate estimated production at
these projects attributable to KEFI Minerals could exceed 80kozpa Au. The cash
generated will be used to fund further exploration and, when appropriate, a
dividend policy. KEFI Minerals is pleased to have seized these opportunities to
potentially develop the Company into a self-funding explorer of parts of Saudi
Arabia being opened for modern exploration for the first time and, in Ethiopia,
to potentially develop a profitable long term operation in the best interests
of all stakeholders.

Proxy Votes

The table below sets out the votes of shareholders who voted by proxy:

Resolution      For      Against   Discretion to  Abstentions    Total
                                      Chairman

    01      96,227,955    2,000        6,420        163,640    96,400,015

    02      96,202,955    27,000       6,420        163,640    96,400,015

Full details of the resolutions can be found in the circular posted to
shareholders as announced on 11 December 2013. The full circular is also
available to download from the Company's website at www.kefi-minerals.com

Admission of Shares

Following use of the secured loan facility as detailed in the announcement of
11 December the number of Consideration Shares issued and allotted has been
reduced to 107,081,158.  Application has been made for such Consideration
Shares together with the 225,000,000 Placing Shares to be admitted to trading
on AIM on 30 December 2013

Enquiries

KEFI Minerals
Jeff Rayner +90 533 928 1913

Fox-Davies Capital
Simon Leathers +44 203 463 5010

Bishopsgate Communications
Nick Rome/Anna Michniewicz +44 20 7562 3395