Issue of Equity

KEFI Minerals plc                               

                      ("KEFI Minerals" or the "Company')                       

                                Issue of Equity                                

KEFI Minerals confirms that it has issued 3,780,831 ordinary shares of 1p each
("Ordinary Shares") (the "Warrant Shares"), at a price of between 1.25p and
2.88p each, following the exercise of certain warrants.

The Company has issued a total of 3,780,831 new ordinary shares to Fox-Davies
Capital Limited which has exercised its option to purchase 1,296,456 shares at
a price of 2.88p per share, 1,800,000 shares at a price of 1.25p per share,
684,375shares at a price of 1.6p per share pursuant to the terms of the option
agreements dated February 2009, June 2009 and January 2010.

Application has been made to admit the Warrant Shares to trading on AIM and
dealings in the Warrant Shares are expected to 11 March 2011.

The total number in shares following the issue of the Warrant Shares is
363,917,189 Ordinary Shares

Enquiries:

KEFI Minerals                  www.kefi-minerals.com   
                                                       
Jeffrey Rayner                 [phone]       
                                                       
WH Ireland Limited                                     
                                                       
Katy Mitchell                  [phone]        
                                                       
Fox-Davies Capital                                     
                                                       
Stephen Leathers               [phone]        
                                                       
Bishopsgate Communications                             
                                                       
Michael Kinirons               [phone]