Subscription Agreement

AIM: KEFI

                                                                   29 June 2012

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                                   AIM: KEFI                                   

            Subscription of Subscription Shares by Al Rashid Family            

KEFI Minerals, an AIM-quoted gold and copper exploration company with projects
in the Kingdom of Saudi Arabia, is pleased to announce that it has entered into
a subscription agreement (the "Subscription Agreement") for the subscription of
42,000,000 new ordinary shares in the capital of the Company (the "Subscription
Shares") at 2.3 pence per share by members of the Al Rashid Family who are
three of the principals of Abdul Rahman Saad Al Rashid & Sons Company Limited
("ARTAR") (the "Subscription") for an aggregated amount of £966,000.

KEFI Minerals will allot the Subscription Shares to three individual principals
of ARTAR in the amount of 14,000,000 Subscription Shares each, namely Saad,
Omran and Sulaiman Al Rashid.

The Subscription is conditional on the satisfaction of certain conditions set
out in the Subscription Agreement including, inter alia, the approval by KEFI
Mineral's shareholders of resolutions 5 and 6 to be proposed at today's annual
general meeting and the admission of the Subscription Shares to trading on the
AIM market of the London Stock Exchange, which is expected to become effective
on or about 5 July 2012. The long stop date for satisfaction or waiver of the
conditions is 17 July 2012.

Reasons for the Subscription

ARTAR is a leading industrial conglomerate which is KEFI Mineral's 60% partner
in the Company's Gold & Minerals Joint Venture (the " G&M Joint Venture"). The
Joint Venture is working on a current exploration programme in the Kingdom of
Saudi Arabia.The proceeds of the subscription will be used for ongoing
exploration on the projects in Saudi Arabia, including drilling and geophysical
surveys on its granted licences at Selib North, Hikyrin and Hikyrin South, and
on any additional licences granted in 2012.

Issued share capital following the Subscription

The Company's issued ordinary share capital following completion of the
Subscription will be 468,846,356 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 468,846,356 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 Rules.

KEFI Minerals' Managing Director, Jeff Rayner, commented:

"The Company welcomes the Al Rashid family as shareholders in KEFI. Through
their involvement in ARTAR they also have a beneficial interest in 60% of the G
&M JV and this financing further cements our already close working
relationship. . This relationship undoubtedly helps our joint G&M JV grow a
long term strategic position in the country's emerging minerals sector."

Enquiries:

KEFI Minerals plc www.kefi-minerals.com
Jeffrey Rayner [phone]

Fox Davies Capital Limited
Simon Leathers [phone]

Bishopgate Communications
Nick Rome [phone]

Further information on KEFI Minerals is available at www.kefi-minerals.com