JORC Resource Update

AIM: KEFI

18 September 2013

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                            Increased jorc resource                            

                              Exploration UPDATE                               

KEFI Minerals, the AIM-quoted gold and copper exploration company with projects
in the Kingdom of Saudi Arabia, is pleased to announce an updated JORC
compliant Inferred Resource of 14.5Mt at 0.89g/t Au for 415,000oz Au at its
Jibal Qutman prospect.

The Company's ongoing trench channel sampling and drilling programme at the
Jibal Qutman Licence continues to expand the mineralised system, which is yet
to be closed off. Kefi Minerals is the operator of the project under the
Company's 40%-owned Gold & Minerals Joint Venture ("G&M").

HIGHLIGHTS

  * A 33% increase in the JORC compliant Inferred Resource to 14.5Mt at 0.89g/t
    Au for 415,000oz Au has been calculated at a cut-off of 0.2g/t Au.
   
  * The 3K Hill prospect discovered in June 2013 provided significant
    contribution to the upgrade;
   
  * The second phase RC drilling programme is on-going with mineralisation
    remaining open along strike at the Main, South, West and 3K Hill Zones.
    Drilling aims to extend the resource, and continues returning encouraging
    intersections, including: 9m at 14.20g/t Au, 25m at 1.25g/t Au, 10m at
    2.18g/t Au, 9m at 1.36g/t Au and 8m at 1.01g/t Au.;
   
  * Trench channel sampling over a newly discovered set of shear zone-hosted
    quartz bodies at 4K Hill returned encouraging intersections, including 8m
    at 1.03g/t Au, 12m at 1.37g/t Au and 1m at 28.31g/t Au;
   
  * A Diamond Drill Hole programme to deliver samples and progress
    metallurgical testwork has been initiated.
   
Jeff Rayner, ManagingDirector of KEFI Minerals, commented:

"The results of the on-going RC drilling and trenching at Jibal Qutman continue
to increase the size of the mineralised system. We are very excited about the
potential to develop a significant resource in the region and once more the
drilling results have vindicated our team's efforts.

"Our drilling is continuing to find more gold and we have yet to close off the
mineralisation along strike of any of the drilled areas. Additional drilling
capacity is being sought to step up the work rate at Jibal Qutman with the
continued focus on moving towards a pre-feasibility study. We look forward to
further developing our drilling programme and updating the market in due
course."

Jibal Qutman Resource Update

At Jibal Qutman an updated resource has been calculated from additional drill
and trench sampling results received up to 9 September 2013. Previous
interpretation from polygonal estimates has been updated for new understanding
with significant additional data and a revised geology model created. The data
set considered is comprised of 50 diamond drill holes, 114 RC drill holes and
201 trenches. There were 9,000 drill hole assays and 7,500 trench assays for
16,500 assays in total considered. Geostatistics has been performed on each
separate deposit and top-cuts ranging from 10.5g/t to 25.4g/t Au applied.

Drilling was carried out on 50m x 25m and 50m x 40m spacings to nominally 120m
depths. Trenches were excavated at 50m and 25m spaced sections.

At 3K Hill, gold mineralisation shows the same features as the other southern
zones and comprises massive wide quartz vein zones with higher grade (1-25g/t
Au) gold mineralisation, intercalated by pyrite rich shear-zone hosted
stockworks.

The resource estimate has been confined to maximum depths of 50m to 70m below
surface and an approximate overall strip ratio of less than 4:1 (waste:ore) can
be calculated in four "pit shells" to the base of the mineralised blocks.

An inverse distance squared block model has been produced in Surpac, supported
by basic geo-statistics to fill all of the interpreted orebody solids with
grade for an updated inferred resource estimate:

       Zone          Volume           Tonnes         Au g/t          Ounces    
                                                                               
  Main - West -     4,466,452       11,836,102        0.85           322,621   
      South                                                                    
                                                                               
     3K Hill        1,022,498       2,709,621         1.06           92,114    
                                                                               
      Total         5,488,950       14,545,723        0.89           414,735   

Additional information obtained since July 2013 allowed confirmation of the
general size and shape of main-west-south block with an addition of some 2Mt at
similar grade. The deposit structure has been confirmed and is still open at
depth and along strike.

3K Hill has proved an excellent discovery, effectively adding since July 3Mt
bulk near surface tonnage, open at depth to the north and along strike north
and south.

Ongoing Exploration

The second phase RC drill programme continues and since July 2013, a second
drill contractor has been operating on site. The aim is to define the limits of
the Main, West, South and 3K Hill Zones and to subsequently infill RC drill at
25m x 20m where required. This work is expected to be completed in Q4 2013.

In the 3K Hill prospect, trenching and RC drilling has extended the quartz vein
mineralisation to over 400m to the North and South. Mineralisation is masked by
shallow sand cover (1-2m) going Northwards and further RC drilling is planned.

The best results from the recently drilled RC drill holes include:

 Hole No   From    To   Interval  Au g/  Zone 
            (m)    (m)     (m)      t         
                                              
 JQRC079    20     45      25     1.25  3KHill
                                              
 JQRC80     55     60       5     1.55   West 
                                              
 JQRC82     24     26       2     1.17   West 
                                              
 JQRC086    28     39      11     0.86  3KHill
                                              
 JQRC88      8     10       2     3.48   West 
                                              
 JQRC089     6      8       2     1.32  3KHill
                                              
 JQRC090    58     69      11     0.99  3KHill
                                              
   and      84     87       3     1.78  3KHill
                                              
 JQRC091    41     43       2     1.70  3KHill
                                              
 JQRC096    33     40       7     1.70   West 
                                              
 JQRC98     55     64       9     14.20 3KHill
                                              
including   60     64       4     29.75 3KHill
                                              
 JQRC102    15     24       9     1.36  3KHill
                                              
 JQRC106    74     79       5     1.35   West 
                                              
 JQRC108    63     66       3     1.07   West 
                                              
 JQRC109    32     35       3     1.16   Main 
                                              
 JQRC112    15     23       8     1.01   Main 
                                              
 JQRC114     7     17      10     2.18   Main 

Reconnaissance sampling and mapping has resulted in new discoveries of
gold-bearing quartz vein structures in other parts of the Jibal Qutman Licence.
The most promising is an area located 1.2km Northeast of the 3K Hill prospects,
with veins gently dipping to the East, similar to the West Zone and mapped over
300m of strike (4K Hill prospect).

Trenching, spaced 50m apart along sections at 4K Hill, confirmed that
mineralisation extends for strike of over 300m. A list of best intersections
received to date includes:

Hole No                 Interval  Au g/  Zone 
                          (m)       t         
                                              
JQT198                     3      1.32  4KHill
                                              
JQT200                     12     1.37  4KHill
                                              
JQT202                     5      1.02  4KHill

Four RC holes were drilled at 4K Hill and most samples are still being
processed in the laboratory.

Trenching over the northern extension of the 3K Hill prospect, completely
hidden by alluvial sediments, provided indications that the mineralisation, as
shown in the table below, could be extended 100m to the north:

Hole No                 Interval  Au g/  Zone 
                          (m)       t         
                                              
JQT205                     1      28.31   3K  
                                         Hill 

Further RC drilling and trenching to extend the 3K Hill and 4K Hill zones is
also planned. Currently, two RC rigs are operating on single shift.

Others

Feasibility study: G&M plans to complete a Pre-Feasibility Study in Q1 2014 and
subsequently apply for a Mining Licence for the G&M JV. Feasibility study
related works including geophysical water exploration were initiated in late
August 2013.

Metallurgy: metallurgical testwork is continuing, indicating that recoveries in
excess of 90% can be obtained in the upper oxide zones. Although metallurgy is
complex, indications are that overall recoveries above 80% should be achievable
on sulphide zone samples.

A diamond drilling programme started in August with the aim to collect
sulphide-zone samples for further metallurgical testworks.

Enquiries



KEFI Minerals

Jeffrey Rayner [phone]

Fox-Davies Capital

Simon Leathers [phone]

Bishopsgate Communications

Nick Rome/Anna Michniewicz [phone]

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 www.kefi-minerals.com

KEFI Minerals' Strategic Plan in the Kingdomof Saudi Arabia

Ä°n 2009, KEFI Minerals formed the Gold and Minerals Joint Venture ("G&M") in
Saudi Arabia with local Saudi partner Abdul Rahman Saad Al-Rashid & Sons
Company Limited ("ARTAR"), to explore for gold and associated metals in the
Arabian Shield. To date, the G&M has conducted preliminary regional
reconnaissance and lodged 23 Exploration Licence Applications (ELAs), of which
4 have been granted.

The ELAs were initially applied for and granted to ARTAR. Incorporation of G&M
has been completed and any granted Licences will be transferred into G&M in due
course.

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, which is one of the early movers in the modern
resurgence of the Kingdom's minerals sector.

                                    -Ends-