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Kefi Minerals PLC (KEFI)

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Wednesday 22 February, 2012

Kefi Minerals PLC

Trading Update and Completion of Placing


                                                               22 February 2012

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                                   AIM: KEFI                                   

                    Trading Update & Completion of Placing                     

KEFI Minerals, an AIM-quoted gold and copper exploration company with projects
in the Kingdom of Saudi Arabia, is pleased to announce the completion of the
Placing announced on the 17 February 2012. The Company has raised £1,850,000
(before expenses) by way of a significantly over-subscribed placing, by Fox
Davies Capital Limited ("Fox Davies") of the issue of 61,666,667 ordinary
shares ("Placing Shares") at a price of 3p per ordinary share (the "Placing").
This placing fully funds the Company's share of the planned exploration and
drilling programs for 2012.

Reasons for the Placing

The funds raised in the Placing will be used to progress the next stages of the
current exploration programme that the Company is working on in the Kingdom of
Saudi Arabia as the technical partner in the Gold & Minerals ("G&M") Joint
Venture with 60% partner, the leading industrial conglomerate ARTAR. G&M is
targeting gold (and copper equivalent) discoveries in excess of one million

Trading update

Applications have been lodged for 18 Exploration Licences Applications ("ELAs")
and three Exploration Licences ("ELs") have been granted. The ELA's are at
various stages regulatory processing and a number are expected to be granted
2012. Pending incorporation of the joint venture company, applications have
been lodged by ARTAR on behalf of G&M.

The ELAs are targeting both gold and copper-gold mineralisation, all of the ELA
areas contain ancient workings, some have visible gold in quartz veins, and two
are within 50kms of two operating gold mines.

During the 1970's and 1980's The Geological Surveys Departments of the USA
("USGS") and of France ("BRGM") documented 5000 mineral occurrences, including
over 1000 for gold. Only 51 of these mineral occurrences were drilled. 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. G&M looks forward to introducing the latest
international exploration techniques to parts of the Kingdom which could
potentially benefit. G&M is dedicated to developing long term minerals
operations which is expected to be facilitated by ARTAR's status as a major
industrial conglomerate.

Some prospects within the ELA's have historically reported drill intercepts of
up to 6m at 3.54 Au, 6m at 13.1 Au, 21m at 3.32Au,4m at 4.93, Au from shallow
(less than 70m depths) but these have yet to be verified in accordance with
current reporting standards.

Exploration Licences update

Exploration work has commenced at the Selib North EL where new gold bearing
structures have been discovered. Mapping and sampling results will be reported
when the follow up work is completed.

The Hikyrin and Hikyrin South EL's were granted in January 2012 and surface
sampling, mapping and trenching is already underway.

The Company will update shareholders with respect to the assay results at the
completion of each exploration program.

The planned 2012 Drill program is as follows:

  * Continue Prospect scale mapping and sampling on Selib North, Hikyrin and
    Hikyrin South EL's
  * 1st Phase drilling: Percussion (RC) drilling, total metreage of 7000m, on
    4-5 prospects. Planned to commence in May
  * 2nd Phase drilling: RC and diamond, total metreage of 5000m, subject to
    results of Phase 1
  * Geophysics: Electromagnetic (EM) and Induced Polarisation (IP) Surveys
Issued share capital following the Placing

The Company's issued ordinary share capital following completion of the Placing
consists of 426,846,356 ordinary shares, each with voting rights attached. KEFI
Minerals does not hold any ordinary shares in treasury and accordingly there
are no voting rights in respect of any treasury shares. The aforementioned
figure of 426,846,356 ordinary shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine if
they are required to notify their interest, or any change to their interest, in
the Company under the Financial Service Authority's Disclosure and Transparency

The Company's largest shareholder, EMED Mining Public Limited ("EMED"),
subscribed for 3,333,333 ordinary shares in the Placing. Accordingly, EMED now
holds 70,666,247 ordinary shares which equates to 16.56% of the Company's
issued share capital.

KEFI Minerals' Managing Director, Jeff Rayner, commented:

"We are delighted to have concluded this over-subscribed placing. We now have
the monies in place to fund our exploration and drilling programmes for the
year ahead. We remain fully committed to contributing as technical partner to
the G&M Joint Venture the Kingdom Saudi Arabia where we see huge potential for
serving the Kingdom's policy to develop its growing minerals sector for the
long term."


KEFI Minerals plc
Jeffrey Rayner +90 533 928 19 13

Fox Davies Capital Limited
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