Agreement with Troy Resources

Horizonte Minerals PLC
25 July 2006


        Horizonte Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining

25 July 2006

              Horizonte Minerals plc ('Horizonte' or 'the Group')


         TO DEVELOP BRAZILIAN GOLD PROSPECT WITH SERTAO MINERACAO LTDA,
            A 70% OWNED SUBSIDIARY OF AUSTRALIAN MINER TROY RESOURCES


Horizonte Minerals plc, the AIM listed exploration and development company
focused on Brazil and Peru, has signed a Letter of Intent (LOI) with Australian
gold producer Troy Resources NL's 70% owned local subsidiary Sertao Mineracao
Ltda ('SML') to advance Horizonte's Goias Velho gold exploration project in
Brazil. The concession area, that has yielded positive gold anomalies, is
contiguous to SML's projects, which also includes the operating Sertao gold
mine. It is the intention of the two parties to delineate further economic
open-pit resources in close proximity to the mine.

The Goias Velho project consists of seven contiguous exploration licenses
totalling 13,300 ha covering the Santa Rita greenstone belt. This extends
northwest from the town of Goias Velho, an historical centre of colonial gold
mining activity. A series of gold geochemical anomalies along the greenstone
belt within the concession package have been defined by Horizonte through
initial reconnaissance work, including soil and stream sediment sampling.

The ground to the north and east of the Goias Velho project is already
controlled by SML and totals 92,371 ha. The Sertao gold mine located 18km north
of the Horizonte's project area, produced 69,580 ounces of gold at an average
cost of US$98 (A$129) per ounce in 2004/05.

Troy has already defined targets 20km north west of the Sertao mine at the
Antena Cluster, with an estimated resource of 860,000 tonnes at a grade of 2.12g
/t Au for 58,700 oz. It also recently identified the Digo Digo prospect located
to the east of the Horizonte ground, described as a 5.6 km long NW-trending
gossan horizon.

Under the terms of the of the LOI, SML can earn up to a 70% interest in the
Goias Velho property by spending US$650,000 on exploration within two years.
Once expenditure levels have been reached a new Joint Venture company will be
established to take the property through to production. This would be 30% owned
by Horizonte and 70% by SML, and would function on a 'contribute or dilute'
basis. In the event that either parties participating interest is diluted below
10% it shall convert to a 2% net smelter return (NSR).

Horizonte CEO Jeremy Martin said: 'We are pleased to be working with SML on this
project, they are an established mining company with a proven track record of
gold discovery in the district. The deal is in line with our strategy of
identifying quality early stage projects before securing a partner to assume the
high financial exposure of development and production, while maintaining upside
for Horizonte.

'This model is particularly applicable to the Goias Velho project. Due to the
nature and style of gold mineralisation found in the district, exploration
drilling needs to be closely spaced, which is a costly process. SML, with the
use of Troy's drilling equipment, is able to test targets in a far more cost
effective manner than using contract drillers. Importantly any discovery can be
fast tracked through to production with ore treated at SML's mine facility to
the north of the project area, generating a revenue stream.'

'The deal also enables us to concentrate on our advanced projects in Brazil and
Peru, which we believe have significant upside potential. This is emphasised by
our recent announcement at El Agulia in Peru, outlining high grade silver
values. We are currently undertaking further exploration work and will update
the market as soon as possible.'

The above information has been reviewed and verified by Mr. Jeremy Martin, a
Director and Chief Executive of Horizonte, for the purposes of the Guidance Note
for Mining, Oil and Gas Companies issued by the London Stock Exchange in March
2006. Mr. Martin, with six years of mining and management experience, graduated
with a degree in geology from the Camborne School of Mines, and an MSc in
mineral exploration from the University of Leicester and is a member in good
standing with the Society of Economic Geologists and the Institute of Mining
Analysts.

                                  * * ENDS * *

For further information visit: www.horizonteminerals.com

Contacts

Jeremy Martin/David Hall Horizonte Minerals plc Tel: [phone]

David Paxton Hichens Harrison Tel: [phone]

Hugo de Salis St Brides Media & Finance Ltd Tel: [phone]

John Frain/Fergal Meegan Davy Tel: [phone]



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