Exploration Update

Kefi Minerals plc
17 April 2007

AIM: KEFI                                                          17 April 2007

                               KEFI Minerals Plc
                      ('KEFI Minerals' or the 'Company'),

                               EXPLORATION UPDATE

KEFI Minerals is pleased to provide an update on recent exploration progress.
KEFI Minerals is primarily targeting large epithermal gold or porphyry
gold-copper systems analogous to several +1 million ounce deposits recently
discovered and developed in the Western Anatolia region of Turkey.

Highlights

   • Initial sampling along a portion of the western vein at Derenin Tepe
     returned 6m at 3.3g/t gold, 2m at 9.6g/t gold and 1m at 7.2g/t gold;
   • Recently granted Muratdag Exploration Licence covers the western strike
     continuation of a known gold mineralised structure;
   • Recently granted Meyvali Exploration Licence has strong gold anomalies
     down-stream; and
   • Mr Malcolm Stallman appointed as Exploration Manager.


Derenin Tepe Licence

The Derenin Tepe Exploration Licence was acquired in early 2007 and is located
in the highly prospective Balekisir Province in Western Anatolia, Turkey. This
licence area hosts a series of parallel quartz veins that trend northwest and
extend for at least one kilometre.

Initial exploration work comprising geologic mapping and sampling of these
quartz veins has confirmed the licence is prospective for low-sulphidation
epithermal gold deposits.

The western quartz vein at Derenin Tepe extends over a strike length of 800m.
Initial rock chip sampling of 80m strike along this quartz vein has been carried
out and returned encouraging assay results of 6m at 3.3g/t gold, 2m at 9.6g/t
gold and 1m at 7.2g/t gold.

As previously reported, rock chip sampling of the main quartz vein at Derenin
Tepe returned assay results of up to 152g/t gold and 229g/t silver in an area of
ancient workings and channel sampling returned assays of 8m at 3g/t gold and
152g/t silver.


Muratdag Licence

The Muratdag Exploration Licence, granted to KEFI on 27 March 2007, covers the
western strike continuation of a known gold mineralised structure. Other
exploration companies are currently exploring this structure in contiguous
licence areas to the west and east of KEFI's Muratdag Licence.

The licence covers an area of 36 hectares and is located in the Simav Graben,
Western Anatolia, Turkey. The licence area is also prospective for nickel
laterite mineralisation.


Meyvali Licence

The Meyvali Exploration Licence, granted to KEFI on 4 April 2007, is considered
prospective for gold. Previous exploration has identified strong gold anomalies
in streams draining the licence area, as well as gossanous gold-bearing
structures along strike.

The licence covers an area of 700 hectares and is located in Balikesir Province,
in Western Anatolia, Turkey.


Exploration Manager Appointed

Mr Malcolm Stallman has been appointed Exploration Manager for KEFI Minerals.
Malcolm has been exploring porphyry-style copper-gold deposits, Carlin-style
gold deposits, and low sulphidation epithermal-style gold deposits in Turkey
since 2003. He has extensive international experience and has previously worked
for Freeport, Normandy and Newmont.

The exploration team comprising an Exploration Manager and four geologists is
being established and two experienced Turkish geologists have joined the
Company.

Since being admitted to AIM on 18 December 2006, KEFI Minerals has established
an exploration office in Turkey and has commenced field activities in the
region.


KEFI Minerals' Managing Director, Jeff Rayner, commented:

'The foundation continues to be put in place for KEFI Minerals to rapidly 
progress towards its goal of discovering large epithermal gold or porphyry gold-
copper deposits.

'I am pleased that several geologists with substantial experience in Turkey have 
joined the Company. This experience complements the extensive information in our 
exploration database for Turkey and will enable us to quickly identify highly 
prospective areas, as exemplified by the several licences recently acquired.

'Our work to date in the country, in particular with the Ministry of Natural 
Resources, has confirmed our belief that Turkey has a positive environment for 
exploration and mining activities'

                                     -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. KEFI
Minerals' market capitalisation was £2.7 million at the placing price on
admission to AIM.

A further placement was concluded on 19th February 2007, where 11,666,667 new
Ordinary shares were issued at 3p to raise £350,000. The total number of shares
on issue is 100,333,334.

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 Derenin 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,
    draining from an area of granite intrusion and in an area of historic base
    metal mines.
 5. At Muratdag, in Western Anatolia, the Exploration Licence overlies the
    western strike extension of a known gold mineralised structure, currently
    being explored by other exploration companies.
 6. At Meyvali, in Western Anatoloia, the Licence area 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.

In southern Bulgaria, reconnaissance work in the Lehovo Project area has
identified a structural corridor with a strike length of approximately eight
kilometres with the potential for gold and base metal mineralisation.

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'.



                      This information is provided by RNS
            The company news service from the London Stock Exchange