Update on activities in Saudi Arabia

AIM: KEFI 14 April 2010

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                     UPDATE ON ACTIVITIES IN SAUDI ARABIA                      

KEFI Minerals, a gold and copper exploration company with projects in Turkey
and the Kingdom of Saudi Arabia, is pleased to provide an update on its
activities in the Kingdom of Saudi Arabia.

Highlights

  * KEFI Minerals is continuing to progress development opportunities with
    nearly a third of current portfolio at advanced stages of licence
    applications
   
  * A total of 21 Exploration Licence Applications ("ELAs") have been lodged
    which cover ~2,100km2.
   
  * All of the ELAs contain historic workings for gold and/or copper, some
    contain visible gold in quartz veins.
   
  * In addition to progressing existing applications, reconnaissance and
    generative studies to identify other areas of interest within Saudi Arabia
    continue.
   
  * The primary target in Saudi Arabia is the discovery and development of a >1
    million ounce gold deposits.
   
The Company continues to advance its Saudi Arabia operations, which commenced
in 2008. The focus remains on the Precambrian Arabian Shield and the joint
venture with Abdul Rahman Saad Al-Rashid & Sons Company Limited ("ARTAR"), a
leading Saudi construction and investment group.

The JV Operating Company, Gold and Minerals ("G&M"), formerly named GEMCO, is
in the final stages of being incorporated in Riyadh, Saudi Arabia. KEFI
Minerals is the operating partner with a 40% interest. ARTAR holds the
remaining 60%.

G&M has lodged a total of 21 Exploration Licence Applications ("ELAs") covering
an area of approximately 2,100km2 following approval from the Deputy Ministry
for Mineral Resources ("DMMR") to conduct country-wide field reconnaissance
through the issue of a Reconnaissance Licence.,

The ELAs submitted by G&M are in various stages of being processed by the DMMR,
which has completed site visits at six of the 21 ELAs to date. Some of the
applications lodged by G&M are at an advanced stage of the process and are
expected to be granted soon.

Background to licences and the surrounding area

The ELAs are prospective for volcanic massive sulphide copper-gold deposits,
shear related quartz-gold veins and porphyry copper-gold deposits. All of the
ELAs contain historic workings for gold and/or copper, some contain visible
gold in quartz veins and some have been subjected to limited drilling by the
United States Geological Survey ("USGS") and the Bureau de Recherches
Géologiques et Miniéres ("BRGM"). Encouraging gold mineralisation has been
intercepted in a number of drill holes and trenches in these ELAs.

When the relevant licences are granted, KEFI Minerals will then publicly
release the details of these historical results and our field reconnaissance.
Exploration activities will commence on these licences as soon as the statutory
permitting process has been finalised.

Generative studies continue to be carried out, the Arabian Shield is vast and
many prospective areas are open for pegging. Reconnaissance fieldwork is being
progressively undertaken to assess these opportunities and further applications
for Exploration Licences will be made where warranted.

KEFI Minerals' Managing Director Jeff Rayner commented that:

"One of our key objectives for 2010 is to expedite the granting of our Saudi
Arabian ELAs and the KEFI Minerals team remains very keen to commence
exploration of our quality prospects as soon as practicable.

"Our primary target in Saudi Arabia is the discovery and development of a >1
million ounce gold deposits in the under-explored Precambrian Arabian Shield.

"Saudi Arabia has a substantial historical mining heritage and our geologists
have spent significant time researching and evaluating numerous prospects in
the field that can be rapidly progressed once our applications are granted.

"The strategic and logistical support provided by ARTAR has been invaluable in
establishing KEFI Minerals as an early mover in exploring for minerals in Saudi
Arabia."

Enquiries

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

References in this announcement to exploration results and potential have been
approved for release by Mr Malcolm Stallman, B.App.Sc. Mr Stallman is a
geologist and has more than 20 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.

About Minerals Exploration in Saudi Arabia

Saudi Arabia is a country with a long history of mining that dates back over
5,000 years and is now set for a resurgence under modernised mining laws that
encourage investment.

The Saudi Arabian Deputy Ministry for Mineral Resources ("DMMR") commenced gold
exploration in the 1970s, following a rise in value of the metal. The USGS and
BRGM were commissioned to document and evaluate the mineral occurrences over a
25 to 30 year period from the 1970s to mid-1990s. Over 5,000 historic mines and
occurrences were documented. Limited work was carried out on each prospect and
up to 1994, only 51 of these prospects were drill tested.

The general tempo of exploration activity in Saudi Arabia has progressively
increased following the new Saudi Mining Investment Code coming into effect in
2005.

Some of the key aspects of the new Mining Investment Code, which are attracting
investment in the exploration and mining industry in Saudi Arabia, are:

  * 20% corporate tax rate;
   
  * no mineral royalties;
   
  * all commodities are available to all groups, including 100% foreign owned
    companies;
   
  * security of tenure through all stages of exploration and development;
   
  * no restrictions on foreign exchange
   
  * no restrictions on repatriation of capital and profits;
   
  * accelerated depreciation; and
   
  * exemption from import duties on capital items imported for mining projects.
   
The general process to apply for Exploration Licences in Saudi Arabia is:

 1. EL Application submitted to the DMMR with a cash deposit of SAR 5,000.
   
 2. Following confirmation from the DMMR that the area applied for is
    available, then the Company submits a five-year exploration plan and budget
    plus another cash deposit of SAR 5,000.
   
 3. DMMR organises a visit to the ELA area by representatives of various
    committees and government departments.
   
 4. Following the site visit, some areas may be required to be excised from the
    ELA, e.g. public roads, holy sites, and archaeological sites.
   
 5. DMMR may then request the Company to submit a modified ELA.
   
 6. DMMR then proceeds to grant or reject the ELA.
   
Exploration Licences (up to 100km2) are issued for five years and renewable for
a further five years, with Mining Licences (up to 50km2) issued for up to 50
years.

Major gold deposits in the Arabian Shield of Saudi Arabia include Saudi Arabian
Mining Company's ("Ma'aden") Mahd adh Dhahab Mine (>6 million ounces) and Al
Amar Mine (>1 million ounces), and Ma'aden's recent greenfields discoveries,
which total more than 8 million ounces.

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.

In Turkey, KEFI Minerals currently has the following exploration projects:

 1. At Derinin Tepe in the Western Anatolia Region, low-sulphidation 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. Artvin is a joint venture operated by KEFI Minerals and
    funded by Centerra Gold Inc, who has the right to earn up to 70% interest
    in the property by spending US$6 million.
   
 3. Bakir Tepe, in southwestern Turkey, is prospective for VHMS polymetallic
    deposits. High-grade gold and copper crop out on the peripheries of a
    shallowly buried geophysical chargeability anomaly.
   
 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.
   
In the Kingdom of Saudi Arabia, KEFI Minerals has a minerals exploration joint
venture 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% interest and the joint venture's primary target is the
discovery and development of a >1 million ounce gold deposit in the
under-explored Precambrian Shield in Saudi Arabia.

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-