Issue of Equity

KEFI Minerals plc                               

                      ("KEFI Minerals" or the "Company')                       

                                Issue of Equity                                

KEFI Minerals confirms that it has issued 1,670,000 ordinary shares of 1p each
("Ordinary Shares") (the "Warrant Shares"), at a price of 1.25p each, following
the exercise of certain warrants.

Application has been made to admit the Warrant Shares to trading on AIM and
dealings in the Warrant Shares are expected to occur on 12 January 2011.

The total number in shares following the issue of the Warrant Shares is
332,986,358 Ordinary Shares

Enquiries:

KEFI Minerals www.kefi-minerals.com

Jeffrey Rayner [phone]

Fox-Davies Capital

David Porter/Phil Davies [phone]

WH Ireland Limited

Katy Mitchell [phone]

Bishopsgate Communications

Nick Rome [phone]

Michael Kinirons

About KEFI Minerals

KEFI Minerals commenced trading on AIM in December 2006 and was formed with the
aim of creating shareholder value through the discovery and exploitation of
gold and copper deposits.

 1. In Turkey, KEFI Minerals currently has nine exploration projects:
   
 2. At Derinin Tepe, in the Western Anatolia Region, low-sulphidation
    epithermal quartz veins have been identified with gold and silver
    mineralisation.
   
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. The
Company's Artvin Project is held in a joint venture operated by KEFI Minerals
and funded by Centerra Gold Inc.  Centerra has the right to earn up to 70%
interest in the property by spending USD$6 million over 5 years.

 3. Bakir Tepe, in southwestern Turkey, is prospective for VMS polymetallic
    deposits.
   
 4. 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.
   
 5. Hasancelebi, in central Turkey, is prospective for high-sulphidation
    epithermal gold mineralisation and Iron-Oxide Copper-Gold ('IOCG')
    mineralisation.
   
 6. Muratdag, in the Western Anatolia Region, is prospective for Carlin-style
    epithermal gold mineralisation.
   
 7. At Yatik, in the Western Anatolia Region, low-sulphidation epithermal
    quartz veins with gold and silver mineralisation have been identified.
   
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.

KEFI Minerals Plc has also formed a new minerals exploration joint venture -
Gemco Limited ("GEMCO") - with leading Saudi construction and investment group
Abdul Rahman Saad Al-Rashid & Sons Company Limited ("ARTAR"). KEFI Minerals is
the operating partner with a 40 per cent shareholding of GEMCO with ARTAR
holding the other 60 per cent.

GEMCO's primary target will be the discovery and development of a 1 million
plus ounce gold deposit in the under explored Precambrian Shield in The Kingdom
of Saudi Arabia.

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. 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".