Exploration Update

AIM: KEFI

8th August 2013

                               KEFI Minerals Plc                               

                           ("KEFI" or the "Company")                           

                              EXPLORATION UPDATE                               

             CoNTINUED EXPANSION OF MINERALISATION AT JIBAL QUTMAN             

KEFI Minerals, the AIM-quoted gold and copper exploration company with projects
in the Kingdom of Saudi Arabia, is pleased to announce additional trench
channel sampling and drilling results from the second drilling programme, and
results from metallurgical testwork at the Jibal Qutman Licence. KEFI is the
operator for the project under the Company's 40%-owned Gold & Minerals Joint
Venture ("G&M").

HIGHLIGHTS

  * Third drill rig now in operation at Jibal Qutman
   
  * On-going drill and trench results continue to expand the mineralisation on
    all four drilled deposits at Jibal Qutman with best RC drill results of 16m
    at 4.3 g/t Au, 10m at 3.51g/t Au, 12m at 2.9g/t Au, 25m at 1.27g/t Au and
    47m at 0.94g/t Au.
   
  * On-going metallurgical testwork indicates encouraging gold recoveries of
    92% to 96% from oxides, 81% from transitional and 68% from sulphide
    mineralisation at Jibal Qutman.
   
Jeff Rayner, Managing Director of KEFI Minerals, commented:

"We are delighted that our ongoing programme continues to highlight the scope
of the Jibal Qutman project. We are building on a strong set of drill results
achieved to date and with the third rig up and running we look forward to an
accelerated programme. The rapid progress at Jibal Qutman is pleasing and
serves to highlight our belief in the region as whole."

JIBAL QUTMAN PROJECT

Drilling & Trenching

A third RC drill rig mobilised from the UK has commenced drilling at the Jibal
Qutman project boosting the drilling productivity which had slowed due to the
combined heat of the summer and the Holy Ramadan period.

Encouraging results have been returned from the ongoing RC and trench sampling,
which is supporting the current interpretation and expanding the mineralisation
in the four drilled zones; Main, South, West and 3K Hill, at Jibal Qutman.
Furthermore, a backlog of assay data from 20 drilled RC holes from the assay
laboratory is yet to be received and compiled.

Drilling has commenced at 3K Hill to test beneath the trench results previously
announced in June 2013 which included 80m at 1.88g/t Au, 40m at 4.40g/t Au and
41m at 1.56g/t Au. To date 97 RC holes have been completed on a 50m x 40m grid.
Results have been received from 77 drill holes with best intercepts being 16m
at 4.3g/t Au and 25m at 1.27g/t Au.

At the West Zone, RC drilling continues on the 50m x 40m grid, new
mineralisation has been discovered at depth along the western edge of the Zone
and the deposit is still open to the north and south. Best intercepts include
10m at 3.51 g/t Au, 12m at 2.90 g/t Au. 9m at 2.90g/t Au and 47m at 0.94g/t Au
(see Table below).

Hole No   From   To (m)  Interval Au g/t   Zone                
           (m)             (m)                                 
                                                               
JQRC043    65      75       10     0.74    west                
                                                               
           79      85       6      0.42    west                
                                                               
JQRC045     0      47       47     0.94    west                
                                                               
           58      63       5      0.44    west                
                                                               
           68      80       12      2.9    west                
                                                               
           86      93       7      0.61    west                
                                                               
           95      104      9      0.41    west                
                                                               
JQRC047    62      71       9      2.05    west                
                                                               
JQRC053    48      58       10     3.51    west                
                                                               
JQRC054    62      66       4      0.57    west                
                                                               
           69      73       4      0.74    west                
                                                               
JQRC055     0      16       16      4.3   3KHill               
                                                               
JQRC056    28      32       4      1.41   3KHill               
                                                               
           35      38       3       0.6   3KHill               
                                                               
JQRC057     0      10       10     0.68   3KHill               
                                                               
           12      20       8      0.95   3KHill               
                                                               
JQRC059     0      16       16     0.81   3KHill               
                                                               
JQRC060    26      34       8      1.03   3K Hill              
                                                               
JQRC079*   20      45       25     1.27   3K Hill *Preliminary 
                                                  results only.

Trenching has also continued on the prospect, to date 207 trenches have been
excavated, with best results not released previously tabled below, including
results from two new prospects; the East Veins, which are located immediately
east of the South Zone, and the 5K Hill prospect, which is 2km north of the 3K
Hill. Best results are shown below, which include high grade intercepts of 6m
at 4.14g/t Au, 1m at 6.19g/t Au and 4m at 6.38g/t Au at the East Veins.

Trench   From   To (m) Interval Au g/t  Zone 
  No      (m)            (m)                 
                                             
JQT001    53      60      7      1.94   Main 
                                             
JQT004     0      5       5      0.76  3KHill
                                             
          19      32      13     1.03  3KHill
                                             
JQT005    26      29      3      0.93  3KHill
                                             
          32      36      4      0.5   3KHill
                                             
          41      59      18     0.51  3KHill
                                             
          74      81      7      0.62  3KHill
                                             
JQT141    53      59      6      4.14   East 
                                             
          70      71      1      6.19   East 
                                             
JQT144    18      19      1      2.59   East 
                                             
JQT150    36      40      4      0.69   East 
                                             
JQT151    13      18      5      0.55   East 
                                             
JQT152    64      66      2      0.98   East 
                                             
JQT155    37      40      3      1.1    East 
                                             
JQT156     6      7       1      2.24   East 
                                             
JQT157     7      9       2      3.95   East 
                                             
JQT167    16      20      4      6.38   East 
                                             
JQT173    12      15      3      0.83  5KHill
                                             
          46      48      2      0.53        
                                             
JQT175    20      24      4      0.93  5KHill

Metallurgical Testwork:

Standard CIL bottle roll tests (Carbon in Leach) are designed to provide an
initial indication of gold recoveries by standard CIP & CIL treatment of ore
from the Jibal Qutman prospect in Saudi Arabia.

Preliminary testwork has returned excellent results with high gold recoveries
of;

  * 94.9% and 96.4% by cyanidation of ground ore from two composite drill
    samples representing the West Zone oxide mineralisation;
   
  * 92.5% from one composite drill sample representing the South Zone oxide
    mineralisation;
   
  * 80.5% and 81.5% from two composite drill samples representing the West Zone
    transitional mineralisation; and
   
  * 68.1% from one composite drill sample representing the deeper West Zone
    fresh mineralisation.
   
While not definitive, this metallurgical test work suggests that the oxide,
transitional and primary mineralisation from the Jibal Qutman prospect can be
treated successfully with standard CIP processing methods. In addition, further
assessment of the potential for recovering gold by heap leach from oxidised ore
is warranted.

These results were achieved by standard CIL bottle roll tests on ore ground to
75 microns. Further metallurgical testwork to optimise recovery on the
transitional and primary mineralisation is underway. Additional metallurgical
testwork to test amenability to Heap Leach will be carried out as and when
updated JORC resources are calculated on these Prospects.

                                    -Ends-                                     

Enquiries



KEFI Minerals Plc
Jeffrey Rayner [phone]

Fox-Davies Capital
Susan Walker [phone]

Bishopsgate Communications
Nick Rome [phone]

References in this announcement to exploration results and mineral
resourceshave 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.

KEFI' Strategic Plan in the Kingdom of Saudi Arabia

Ä°n 2009, KEFI formed the Gold and Minerals Joint Venture ("G&M") in Saudi
Arabia with local Saudi partner Abdul Rahman Saad Al-Rashid & Sons Company
Limited ("ARTAR"), to explore for gold and associated metals in the Arabian
Shield. To date, the G&M has conducted preliminary regional reconnaissance and
lodged 23 Exploration Licence Applications (ELAs), of which 4 have been
granted.

The ELAs were initially applied for and granted to ARTAR. Incorporation of G&M
has been completed and any granted Licences will be transferred into G&M in due
course.

The Kingdom of Saudi Arabia has instituted policies to encourage minerals
exploration and development and KEFI Minerals supports this priority by serving
as the technical partner within G&M. ARTAR also serves this Government policy
as the major partner in G&M, which is one of the early movers in the modern
resurgence of the Kingdom's minerals sector.

Further information on KEFI is available at www.kefi-minerals.com