Commencement of drilling

Kefi Minerals plc
21 June 2007



AIM: KEFI
                                                                    21 June 2007

                               KEFI Minerals Plc

                       ('KEFI Minerals' or the 'Company')

                  DRILLING COMMENCES AT DERININ TEPE PROSPECT

KEFI Minerals is pleased to advise that the Company's first drilling program has
commenced earlier than planned at the Derinin Tepe prospect. Trenching at
Derinin Tepe has exposed very extensive, shallow mine workings from antiquity.
The extent of these workings indicates strong gold mineralisation, enabling
diamond drilling to commence earlier than planned.

Initial exploration work had revealed historic workings and encouraging rock
chip sample results in the Derinin Tepe area, leading to a total of 30 short
trenches being excavated across three parallel quartz veins. All trenches
encountered evidence of ancient workings, which have been mostly backfilled with
mine waste. It is considered likely that mining of these quartz veins was
undertaken approximately 2,000 years ago by the Romans. Natural processes have
since blended these workings back into the landscape, thus masking the extent of
ancient mining. The depth of mining is uncertain but unlikely to be greater than
30m given the limitations of ancient technology.

The trenching results for the three quartz veins are as follows:
     
     •    Western vein - encountered workings for 200m along strike, workings 
          continue to the north;

     •    Central vein - encountered workings for 200m along strike, workings 
          continue to the south; and

     •    Eastern vein - encountered workings for 100m along strike, workings 
          continue in both directions.

These northwest-southeast striking quartz veins are near vertical and up to 8m
in width, typically 2m to 4m wide. The current diamond drilling program is
planned to comprise 600m in eight drill holes. These holes are to be drilled at
declinations of around -60 degrees to the northeast and are planned to intercept
the quartz veins at approximately 50m vertically from the surface.

KEFI Minerals' Managing Director, Jeff Rayner, commented: 'Trenching has
revealed that ancient miners found the quartz veins at Derinin Tepe very
worthwhile to mine even with primitive techniques. This revelation has enabled
us to bring forward drilling of this exciting prospect. Our drilling program is
designed to quickly test the strength of gold mineralisation beneath these
workings and also outcropping quartz veins along strike.

'Our work has continued to confirm that Derinin Tepe is prospective for low-
sulphidation epithermal gold deposits.'

The Derinin Tepe Exploration Licence was acquired in early 2007 and is located
in the highly prospective Balekisir Province in Western Anatolia, Turkey.

                                     -Ends-

Enquiries
KEFI Minerals               WH Ireland              Bishopsgate Communications
Jeffrey Rayner              Laurie Beevers          Maxine Barnes
                            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 Jeff Rayner, B.Sc. (Honours). Mr Rayner is a
geologist and has more than 20 years' relevant experience in the field of
activity concerned. He is a member of The Australian Institute of Mining and
Metallurgy (AUSIMM) and has consented to the inclusion of the material in the
form and context in which it appears.



Notes to Editors:

KEFI Minerals was formed on 24 October 2006 for the purposes of holding EMED
Mining's exploration interests in Turkey and Bulgaria with a view to creating
shareholder value through the discovery and exploitation of gold and copper
deposits.

In November 2006, KEFI Minerals completed the acquisition of EMED Mining's
Turkish and Bulgarian exploration interests through the acquisition of EMED
Mining's subsidiary Mediterranean Minerals (Bulgaria) EOOD. In addition, KEFI
Minerals acquired from EMED Mining a database of mining information relating to
Turkey.

KEFI Minerals commenced trading on AIM on 18 December 2006, following the
successful placing of 46,666,667 shares at 3p to raise £1.4 million. A further
£0.35 million was raised in a placement at 3p in February 2007. The total of
100,583,334 shares are currently on issue.

In Turkey, KEFI Minerals has six exploration projects:

 1. At Artvin in northeastern Turkey, areas of extensive hydrothermal alteration
    have been recognised in the project area, and there is evidence of
    historical workings indicating potential for economic mineralisation.
 2. 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.
 3. At Derinin Tepe in the Western Anatolia Region, epithermal quartz veins have
    been identified with gold and silver mineralisation.
 4. At Karalar, in Central Anatolia, highly anomalous gold in stream sediments
    have been identified in an area of historic base metal mines.
 5. Muratdag, in Western Anatolia, is prospective for Carlin-style epithermal
    gold mineralisation.
 6. Meyvali, in Western Anatolia, is prospective for epithermal and skarn related
    mineralisation.

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.

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 and Bulgaria.

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'.


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