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Kefi Minerals PLC (KEFI)

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Friday 17 February, 2012

Kefi Minerals PLC

Conditional Completion of Placing


                                                             17th February 2012

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                                   AIM: KEFI                                   

                       Conditional Completion of Placing                       

KEFI Minerals, an AIM-quoted gold and copper exploration company with projects
in the Kingdom of Saudi Arabia, is pleased to announce that is has
conditionally raised £1,850,000 (before expenses) by way of a significantly
over-subscribed placing, by Fox Davies Capital Limited ("Fox Davies") of the
issue of 61,666,667 ordinary shares ("Placing Shares") at a price of 3p per
ordinary share (the "Placing").

Placing Shares

Application has been made to London Stock Exchange plc for the Placing Shares
to be admitted to trading on AIM and it is expected that Admission will become
effective and that dealings will commence in the Placing Shares on 22 February
2012. The Placing is conditional on admission of the Placing Shares to trading
on AIM ("Admission").


In connection with the Placing the Company has granted, conditional on
Admission, warrants to each of Fox Davies and WHI Stockbrokers to subscribe for
up to 2,916,667 Ordinary Shares at 3p per share, representing five per cent. of
the total number of Placing Shares. Fox Davies has been granted with warrants
over 2,391,667 Ordinary Shares and WHI Stockbrokers has been granted with
warrants over 525,000 Ordinary Shares. Such warrants will be exercisable for
five years following Admission.


KEFI Minerals plc

Jeffrey Rayner +90 533 928 19 13

Fox Davies Capital Limited

Simon Leathers +44 203 463 5010

Bishopsgate Communications

Nick Rome +44 20 7562 3350

References in this announcement to exploration results and potential have been
approved for release by Mr. Jeffrey Rayner. Mr Rayner is a geologist and has
more than 25 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.

Further information on KEFI Minerals is available at