Placing

Kefi Minerals plc
19 February 2007




AIM: KEFI                                                       19 February 2007


                             Completion of Placing


KEFI Minerals Plc, ('KEFI Minerals' or the 'Company'), the gold and copper
exploration company with projects in Turkey and Bulgaria, is pleased to announce
that it has completed a placing, conditional only on Admission, to raise
£350,000 from the issue of 11,666,667 new ordinary shares of 1p each in the
Company (the 'Placing Shares') at a placing price of 3p with UK institutional
and private investors. Application will be made for the Placing Shares to be
admitted to AIM and dealings in the Placing Shares is expected to commence on 5
March 2007.

The total number of issued ordinary shares in the Company, including the Placing
Shares, will be 100,333,334 Ordinary shares.

The proceeds of the Placing will be used by KEFI to continue to expand and
progress its gold and copper exploration assets in Turkey and Bulgaria in 2007.
The new monies will enable the Company to fund exploration following the
recently reported steps taken to expand of its portfolio. This is being achieved
by applying its extensive proprietary geological database in Turkey and by
identifying prospective areas for licence application and acquisition of
licences through Government tenders.

The Placing has also been undertaken in response to current market demand for
KEFI shares following early exploration progress which detailed encouraging high
grade gold and silver results from reconnaissance exploration at the Lehovo
Project in Bulgaria.

Following the issue of the Placing Shares, Paul Curtis will hold 6,000,000,
ordinary shares of 0.01p in the share capital of the Company ('Ordinary Shares')
representing 6.0% of the total number of issued Ordinary Shares and voting
rights in the Company, and Wills & Co Stockbrokers Limited will hold 8,333,333
Ordinary shares representing 8.3% of the total number of issued Ordinary Shares
and voting rights in the Company.


                                     -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 Messrs Jeff Rayner, Managing Director of KEFI Minerals
and Ron Cunneen, Head of Exploration for EMED Mining Group. Both individuals
have more than 15 years' relevant experience in the field of activity concerned.
Ron Cunneen is a member of The Australian Institute of Geoscientists ('AIG') and
Jeff Rayner is a Corporate Member of the Australian Institute of Mining and
Metallurgy ('AUSIMM'). Both have 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.

In Turkey, KEFI Minerals has two initial exploration projects:

   • 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.
   • 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.

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. Procurement of new
prospective licences has commenced and 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