Artvin project drilling results

AIM: KEFI 13 February 2009

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

         Results of First Drilling Programme at Artvin Project, Turkey          

KEFI Minerals Plc, the AIM-quoted gold and copper exploration company, is
pleased to announce the final assay results from its recently completed initial
diamond drilling programme at the Company's Artvin Project located in the
Eastern Pontide Belt in northeastern Turkey.

                                  Highlights                                   

  * Initial drilling results confirm that the selected targets are mineralised
    with gold and base metals and warrant follow-up.
   
  * This prospect is held in a joint venture (JV) operated by KEFI Minerals and
    funded by Centerra Gold Inc ("Centerra") which is considering the next
    stage of work commitment when weather conditions permit after the winter
    recess. Centerra has the right to earn up to 70% interest in the property
    by spending USD$6 million over 5 years.
   
  * Maximum gold intercept of 2m at20.9g/t gold and 47.4g/t silver was recorded
    in hole AYDD4.Other significant gold intercepts include 14m at 1.0g/t gold
    from 42m (including 1m at 9.9g/t gold from 44m) and 33m at 0.3g/t Au from
    62m in AYDD1.
   
  * Wide intervals of anomalous zinc mineralisation, including 64m at0.35% zinc
    and 44m at0.57% zinc, were recorded in holes AYDD1 to AYDD4.
   
  * All five drillholes intersected wide intervals of variably altered
    andesitic volcanic rocks with widespread disseminated and vein-style
    pyrite-sphalerite (zinc sulphide) with some galena (lead sulphide) and
    chalcopyrite (copper sulphide).
   
All assays have now been received from the first-phase diamond drilling
programme for the Yanikli Prospect at the Artvin Project. The five-drillhole
programme was designed to test strong gold/base-metals anomalies from soil and
rock chip surveys as well as induced polarisation (IP)chargeability-resistivity 
anomalies. The Company's geologists have observed significant widths of 
quartz-sericite-pyrite alteration with widespread disseminated and vein-style 
pyrite-sphalerite and some galena within the core in all five holes. Follow-up 
drilling is planned for later in 2009.

KEFI Minerals' Managing Director, Jeff Rayner, commented:

"This initial drilling programme has confirmed the presence of precious and
base-metal mineralisation at the Yanikli Prospect. Evaluation of thisdata will
provide a good basis fortargeting the next phase of exploring this large
prospective area."

Enquiries

KEFI Minerals                WH Ireland           Bishopsgate Communications   
                                                                               
Jeffrey Rayner               Laurie Beevers       Maxine Barnes                
                                                                               
                             Katy Mitchell        Nick Rome                    
                                                                               
[phone]            [phone]     [phone]     
        
                                                                               
www.kefi-minerals.com     
                                                     

About Artvin Project

The Artvin Project located in the Eastern Pontide Belt in northeastern Turkey.
The Eastern Pontide Belt is a major metallogenic province near the eastern
Black Sea coastal region and is considered prospective for volcanic-hosted
massive sulphide (VHMS) deposits, porphyry copper-gold deposits, as well as
epithermal gold-silver mineralisation.

The Artvin Project comprises 15 tenements, which cover approximately 254km2 and
is subject to a JV agreement with a subsidiary of Centerra Gold Inc., a
Canadian-based gold mining and exploration company listed on the Toronto Stock
Exchange. The terms of the JV were set out in the Company's announcement of
23rd October 2008.

Results of Initial Drilling Program

A first-phase diamond drilling programme at the Yanikli Prospect was completed
on 24 December 2008. Five holes were completed for an aggregate of 1,618m of HQ
core. The drilling was carried out by Pozitif Sondaj, an Ankara-based
contractor.

Detailed lithological logging of the drill core was undertaken and intervals
with alteration +/- mineralisation +/- veining were selected for sampling. Half
HQ core samples were collected at 1-2m intervals with 612 samples (including 28
standards) being submitted to ALS Chemex in Izmir for analysis.

                            Location of Drillholes                             

Hole ID Easting Northing Elevation (m) Declination Azimuth Final Depth (m)
                                                                          
AYDD1   259160  4578979      1555         -60o      090o        416.5     
                                                                          
AYDD2   259198  4579115      1565         -60o      300o        403.0     
                                                                          
AYDD3   259500  4578763      1726         -60o      270o        401.6     
                                                                          
AYDD4   259201  4579117      1565         -50o      050o        251.0     
                                                                          
AYDD5   259725  4579015      1556         -50o      095o        145.8     


Hole AYDD1 was primarily designed to test beneath the "discovery outcrop" which
returned 44m at 0.5g/t gold, 45m at 0.12% lead and 36m at 0.18% zinc from
channel chip sampling. The upper part of the hole intersected variably altered
(clay-pyrite +/-silica) volcanics with low levels (generally <2%; locally up to
10%) of disseminated pyrite +/-sphalerite and galena plus sparse narrow (~1cm)
quartz-calcite-pyrite-sphalerite-galena veinlets. The hole then passed into
unaltered to weakly chlorite-epidote altered feldspar porphyry with trace
disseminated pyrite and rare sphalerite and galena.

The maximum individual assays recorded for hole AYDD1 are:

  * Lead/zinc - 1.1m at 1.72% lead and 2.63% zinc from 132.0m, and 1m at 2.62%
    zinc from 198.5m
   
  * Copper - 1.0m at 1.71% copper from 197.5m
   
  * Gold/Silver - 1.0m at 9.9g/t gold and 32.5g/t silver from 44.0m
   
Hole AYDD2 was designed to test beneath a northeast-trending portion of a
gold-in-soil anomaly and quartz veinlets that returned up to 5.1g/t gold. The
upper part of the hole intersected pervasively moderately to strongly altered
(silica-sericite-pyrite) felsic volcanics with low levels (generally 2-3%) of
disseminated pyrite with 1-3% sphalerite, 1% galena and rare chalcopyrite.

The maximum individual assays recorded for hole AYDD2 are:

  * Zinc - 1.0m at 1.77% zinc from 217m
   
  * Lead - 2.0m at 0.82% lead from 167m
   
  * Copper - 1.25m at 0.14% copper from 32.75m
   
  * Gold - 2.0m at 0.9g/t gold from 167m
   
  * Silver - 1.25m at 5.9g/t silver from 32.75m
   
Hole AYDD3 was drilled beneath the siliceous core of the hydrothermal system
with stockwork quartz veining and into part of the gold-in-soil anomaly. The
hole intersected a sequence of weakly to strongly quartz-clay-sericite-pyrite
altered flow banded felsic volcanics, variably quartz-clay-sericite-pyrite
altered intermediate volcanic breccias and narrow hydrothermal breccia zones
before intersecting feldspar porphyritic andesite at the end of hole. This
sequence is cut by a number of narrow magnetic intermediate dykes. In the upper
parts of the hole, low levels (generally <3%; locally higher) of disseminated
pyrite +/- sphalerite and galena, with intermittent trace chalcopyrite
(typically less than 1%) plus sparse narrow (~1cm) quartz-calcite veinlets
occur.

The maximum individual assays recorded for hole AYDD3 are:

  * Zinc - 1.5m at 0.78% zinc from 190.5m
   
  * Lead - 1.2m at 0.26% lead from 192.0m
   
  * Copper - 1.5m at 0.12% copper from 13.4m
   
  * Gold - 1.5m at 0.32g/t gold from 13.4m
   
  * Silver - 1.0m at 13.2g/t silver from 308m
   
Hole AYDD4 was designed to test beneath part of the northeast-trending portion
of the gold-in-soil anomaly which contains quartz-veinlets up to 5.1g/t. The
hole intersected a sequence of variably quartz-clay-sericite-pyrite altered
feldspar porphyritic volcanics, with low levels (generally <2%) of disseminated
pyrite, sphalerite and galena plus sparse narrow (~1mm) clay-pyrite veinlets,
before ending in fresh intermediate volcanic breccia.

The maximum individual assays recorded for hole AYDD4 are:

  * Zinc - 0.9m at 1.87% zinc from 87.6m
   
  * Lead - 2.0m at 0.39% lead from 112.0m
   
  * Copper - 2.0m at 0.55% copper from 112.0m
   
  * Gold - 2.0m at20.9g/tgoldfrom 112.0m
   
  * Silver - 2.0m at47.4g/tsilverfrom 112.0m
   
Hole AYDD005 was drilled beneath the easternmost part of the gold-in-soil
anomaly. The hole intersected a sequence of weakly clay-sericite-pyrite altered
feldspar porphyritic volcanics with low levels (generally <1%) of disseminated
granular pyrite and clay-gypsum veinlets before ending in unaltered
intermediate lithic lapilli tuff.

No significant assays were recorded for hole AYDD005.

True widths have not been determined for the drill intercepts quoted above.

Petrology

A total of 16 core samples were submitted to Mineralogic and Petrologic
Solutions Ltd in Auckland, New Zealand for petrological analysis, fluid
inclusion studies, and XRD analysis.

Preliminary results of this work indicate the suite of samples consists of
sparsely porphyritic volcanic rock/tuff, porphyritic andesite and tentatively
identified lithic and lithic-crystal tuff. Alteration is dominated by quartz,
illite/sericite, pyrite and carbonate.

The rocks are cut by three generations of veins 1) quartz, 2) sulphides and
late 3) carbonates. Sulphide mineralisation occurs both in veins and as a
replacement mineral of phenocrysts/crystal fragments. The main sulphide is
pyrite with lesser sphalerite and rare galena plus chalcopyrite. Pyrite mainly
occurs as disseminations throughout the samples and also occurs in veins.
Sphalerite occurs in veins and fills cavities but further appears to replace
phenocrysts (although it may fill open spaces from the dissolution of the
original mineral).

Competent Person

References in this announcement to exploration results and potential have been
approved for release by Mr Malcolm Stallman (B.App.Sc). Mr Stallman is a
geologist and has more than 20 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.

About KEFI Minerals

KEFI Minerals commenced trading on AIM in December 2006 and was formed with the
aim of creating shareholder value through the discovery and exploitation of
gold and copper deposits.

In Turkey, KEFI Minerals currently has seven exploration projects:

1. At Derinin Tepe, in the Western Anatolia Region, low-sulphidation epithermal
quartz veins have been identified with gold and silver mineralisation.

2. At Artvin, in northeastern Turkey, extensive hydrothermal alteration and
gold and base metal mineralisation have been recognised in the project area, as
well as historical workings indicating potential for economic mineralisation.

3. Bakir Tepe, in southwestern Turkey, is prospective for VMS polymetallic
deposits.

4. 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.

5. Hasancelebi, in central Turkey, is prospective for high-sulphidation
epithermal gold mineralisation and Iron-Oxide Copper-Gold ("IOCG")
mineralisation.

6. Muratdag, in the Western Anatolia Region, is prospective for Carlin-style
epithermal gold mineralisation.

7. At Yatik, in the Western Anatolia Region, low-sulphidation epithermal quartz
veins with gold and silver mineralisation have been identified.

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. 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".

DoÄŸu Akdeniz Mineralleri

San. Tic. Ltd. Åžti.

Cemal Gürsel Cad.

Yalı Apt. No:304

K:4 D:9 Karşıyaka İZMİR

Tel: [phone]

Fax: [phone]