Artvin Update

AIM: KEFI 12 November 2007

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                   EXPLORATION UPDATE ON THE ARTVIN PROJECT                    

KEFI Minerals is pleased to announce further positive exploration results at
the Yanikli Prospect within the Company's 100%-owned Artvin Project in
north-eastern Turkey.

Highlights

  * Strongly anomalous soil (maximum 2.4g/t gold and 13.4g/t silver) and rock
    chip samples (maximum 8.2g/t gold and 12.4g/t silver) outline a number of
    coherent zones of polymetallic vein-style and disseminated mineralisation
    within a 1.75km by 1.50km mineralised area at the Yanikli Prospect.
   
  * Repeat channel sampling at 1m intervals has returned 3m at 3.2g/t gold, 1m
    at 1.4g/t gold and 1m at 1.7g/t gold within a broader zone containing 44m
    at 0.5g/t gold at the Yanikli Prospect.
   
  * Results indicate the presence of an extensive mineralised system containing
    gold and base metals, possibly distal to a porphyry copper-gold system.
   
  * Program of systematic follow-up and infill soil, rock chip and channel
    sampling is continuing.
   
KEFI Minerals' Managing Director, Jeffery Rayner, commented:

"The combination of gold and base metal mineralisation in this geological
setting provides further encouragement that Yanikli potentially contains
significant mineralisation. Exploration work continues at Yanikli and within
the large surrounding Artvin Project area. KEFI Minerals is the first company
to utilise modern exploration methods to explore for gold in the region."

Background -Yanikli Exploration Results

KEFI Minerals commenced exploration in the Artvin Project area in May 2007.
Exploration work completed to date has included geological mapping, 89 stream
sediment samples, 685 rock-chip and channel-chip samples, and 461 soil samples.

At the Yanikli Prospect, results to date outline a series of north-northwest
and northeast oriented gold-in-soil anomalies containing >50ppb gold within a
1.75km x 1.50km area. Within this area, maximum soil values of 2.4g/t gold,
13.4g/t silver, 2550ppm lead and 2230ppm zinc and maximum rock chip values of
8.2g/t gold, 12.4g/t silver, 2330ppm lead and 4790ppm zinc have been returned.
The gold-in-soil anomalies are generally coincident with >500ppm lead-in-soil
anomalism. A lead-in-soil anomaly approximately 1.5km by 0.35km north-northwest
oriented, containing >500ppm lead has been defined along the western flank of
the Yanikli Prospect.

Repeat channel sampling of the silica-clay altered zone that returned a
previously reported 38m at 1.8g/t gold from 5m channel sampling was undertaken
at 1m intervals. This sampling returned 44m at 0.5g/t gold, including 3m at
3.2g/t gold, 1m at 1.4g/t gold and 1m at 1.7g/t gold. Narrow zones of highly
anomalous silver mineralisation were also recorded, including 4m at 48.4g/t
silver and 2m at 32.0g/t silver. The silica-clay altered zone contains
widespread disseminated and vein-style lead-zinc mineralisation that returned
45m at 1202ppm lead and 36m at 1840ppm zinc.

Because grade distribution in epithermal gold-base metal mineralisation is
patchy and is subject to the nugget effect of coarse grained gold, validation
sampling was undertaken. This grade variability was confirmed with the
variability between the 5m and 1m sample intervals.

The vein-style and disseminated gold-base metal mineralisation at the Yanikli
Prospect is hosted in altered felsic and mafic volcanic tuffs. Vein-style and
disseminated galena and sphalerite generally occur peripheral to the pyrite
envelope of typical porphyry copper deposits. The highly anomalous lead and
zinc ± copper ± gold mineralisation encountered at Yanikli within
structurally-controlled silica-clay alteration zones is indicative of the
distal portions of a porphyry system. The nearest known intrusive rocks are
fresh monzonitic to basaltic dykes which have been observed in the
topographically higher parts of the prospect.

Further channel-chip sampling along available rock outcrops and infill soil
sampling to provide coverage at 100m x 50m grid spacing is currently being
undertaken at the Yanikli Prospect. Yanikli has steep topography, well
developed forest cover and extensive areas of scree slope development,
including a large landslide on the eastern margin of the prospect. As a result,
it is likely that further zones of mineralisation occur within the area but are
obscured by this recent soil and scree cover.

Background - Project Summary and Geology

The Artvin Project is 100%-owned by KEFI Minerals and is located in the eastern
part of the Eastern Pontides region, which is dominated by Jurassic-Tertiary
island arc magmatic rocks formed on the Palaeozoic basement. The Artvin Project
comprises 15 Exploration Licences which cover a total of 253km2.

The Pontide belt is prospective for volcanic-hosted massive sulphides ("VHMS")
deposits, porphyry copper-gold deposits and epithermal gold-silver
mineralisation. Nearby mines and prospects within 10 to 100km along strike from
the Artvin Project include:

  * Cayeli with reserves of 11.6 million tonnes at 3.6% copper, 5.9% zinc, 0.6g
    /t gold and 49g/t silver (owned by Inmet Mining),
   
  * Murgul with reserves of 80 million tonnes at 1.1% copper;
   
  * Cerateppe with reserves of 1.6 million tonnes at 8.8% copper, 1.1% zinc,
    1.4g/t gold and 33g/t silver (owned by Inmet Mining); and
   
  * Berta porphyry copper-gold prospect owned by Nuinsco Resources and Xstrata
    Copper.
   
The Artvin Project area consists of large areas of hydrothermal alteration and
numerous, small historical base-metal mines. These were exploited by Turkish
and Russian miners during the last 150 years. More recently, in the 1990s, the
area was explored for copper by Rio Tinto, Placer Dome and BHP, however
exploration work was largely reconnaissance in nature. Nuinsco Resources is
currently exploring the large Berta porphyry copper-gold prospect, which is
located adjacent to the southwest corner of the Artvin Project area. KEFI
Minerals is the first company to utilise modern exploration methods to
systematically explore the Artvin Project area for gold.

Exploration activities at the Artvin Project will shortly cease for the current
field season due to the onset of winter conditions.  Exploration planned for
the 2008 field season includes further surface geochemical sampling and an IP
survey with the aim of delineating targets for drill testing in the latter part
of the next field season.

References in this announcement to exploration results and potential have been
approved for release by Mr Jeff Rayner, B.Sc. (Honours). Mr Rayner is a
geologist and has more than 20 years' relevant experience in the field of
activity concerned. He is a member of The Australian Institute of Mining and
Metallurgy (AUSIMM) and has consented to the inclusion of the material in the
form and context in which it appears.

Enquiries

KEFI Minerals                WH Ireland            Bishopsgate Communications  
                                                                               
Jeffrey Rayner               Laurie Beevers        Maxine Barnes               
                                                                               
                             Katy Mitchell         Nick Rome                   
                                                                               
[phone]            [phone]      [phone]            
                                                                               
www.kefi-minerals.com                                                          

Notes to Editors:

KEFI Minerals was formed on 24 October 2006 for the purposes of holding EMED
Mining's exploration interests in Turkey and Bulgaria with a view to creating
shareholder value through the discovery and exploitation of gold and copper
deposits.

In November 2006, KEFI Minerals completed the acquisition of EMED Mining's
Turkish and Bulgarian exploration interests through the acquisition of EMED
Mining's subsidiary Mediterranean Minerals (Bulgaria) EOOD. In addition, KEFI
Minerals acquired from EMED Mining a database of mining information relating to
Turkey.

KEFI Minerals commenced trading on AIM on 18 December 2006, following the
successful placing of 46,666,667 shares at 3p to raise £1.4 million.

In Turkey, KEFI Minerals has six exploration projects:

 1. At Derinin Tepe in the Western Anatolia Region, epithermal quartz veins
    have been identified with gold and silver mineralisation.
   
 2. At Artvin in northeastern Turkey, extensive hydrothermal alteration and
    gold and base metal mineralisation have been recognised in the project
    area, as well as historical workings indicating potential for economic
    mineralisation.
   
 3. At Gumushane in eastern Turkey, areas of extensive hydrothermal alteration
    have been recognised in the project area, as well as coincident areas of
    interest identified through interpretation of Aster data.
   
 4. At Karalar, in Central Anatolia, highly anomalous gold in stream sediments
    have been identified in an area of historic base metal mines.
   
 5. Muratdag, in Western Anatolia, is prospective for Carlin-style epithermal
    gold mineralisation.
   
 6. Meyvali, in Western Anatolia, is prospective for epithermal and skarn
    related mineralisation.
   
KEFI Minerals also has an extensive exploration database which contains
information about approximately 100 further prospective sites in Turkey. This
database provides the Company with a competitive advantage to identify
prospective areas for project generation in Turkey. Monitoring of the
exploration licence status of geologically prospective areas will be carried
out on an ongoing basis so that KEFI Minerals can acquire further exploration
opportunities as soon as they become available.

EMED Mining has agreed to provide technical and administrative systems and
personnel to KEFI Minerals on a cost-recovery basis, thus enabling KEFI
Minerals to reduce overheads and spend more on exploring Turkey and Bulgaria.

KEFI Minerals' Board of Directors is comprised of Mr. Harry Anagnostaras-Adams
(Chairman), Mr. Jeffrey Rayner (Managing Director), Professor Ian Plimer
(Deputy Chairman) and John Leach (Finance Director).

Further information on KEFI Minerals is available at www.kefi-minerals.com and
the Company's AIM code is "KEFI".

                                    -Ends-                                     

KEFI Minerals Plc
27-28 Eastcastle Street
London
IUK W1W8DH

T: [phone]
F: [phone]

E: [e-mail]

www.kefi-minerals.com