Jibal Qutman Drilling Update

AIM: KEFI

6th November 2012

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                         JIBAL QUTMAN DRILLING UPDATE                          

KEFI Minerals, an AIM-listed gold and copper exploration company with projects
in the Kingdom of Saudi Arabia, is pleased to announce diamond drill results
from the initial drilling programme at the Jibal Qutman Licence for the
Company's 40%-owned Gold & Minerals Joint Venture ("G&M").

HIGHLIGHTS

  * Diamond Drilling at Jibal Qutman returns encouraging intersections,
    including 7.1m at 5.85g/t Au and 7.0m at 4.29g/t Au
   
  * Two diamond drill rigs are operating 24 hours a day and 21 holes have been
    completed to-date
   
The Jibal Qutman Licence was granted in July 2012 and exploration work has
progressed rapidly from surface mapping and trenching, and the commencement of
the first phase of diamond drilling. Two diamond drill rigs are now in
operation on 2 x 12 hour shifts and to date, 21 diamond drill holes have been
completed which is approximately halfway through the 4000m planned for the
first phase drill programme.

The gold mineralisation at Jibal Qutman is hosted in a series of quartz veins
over a 3km zone. The main vein dips at 45° to the east, parallel veins form
stringer zones around the main vein. In addition, sets of flat lying veins have
been recently recognised in a separate area in the northwest and extreme south
of the prospect area.

Diamond drilling is being performed on initial 100m x 25m and 50m x 25m grids.
The best results from the first 10 diamond drill holes drilled over a strike
length of 400m, include;

Hole No.    From    Interval    g/t Au    g/t Ag

JDQ 1       28.5m       7.5m      1.05      10.6
            66.0m       2.5m      2.47       4.2
            74.2m      10.2m      1.05      10.0

JDQ 2       44.0m       2.0m      2.95      10.3
            64.0m       1.0m     11.67     249.0

JDQ 3       32.0m       6.0m      2.50      27.8

JDQ 4       39.0m       4.0m      1.72      22.7
            50.0m       3.0m      1.11       5.2

JDQ 5       30.0m       7.0m      4.29       5.8
            45.0m       1.0m      3.94       1.0

JDQ 5A      30.0m       8.9m      1.68   pending
(including) 33.4m       1.6m      8.40   pending

JDQ 6       46.0m      11.0m      1.51       3.2
            61.0m       1.0m      1.53       2.7

JDQ 7       25.4m       1.6m      9.01   pending
            42.4m       7.1m      5.85   pending

JDQ 8        5.5m      10.0m      1.11   pending
            35.4m       2.0m      1.21   pending
            74.1m       2.5m      4.98   pending

[JDQ 9 pending]

[JDQ 10 pending]

JDQ 11      25.8m       3.0m      0.82   pending
            35.8m       8.3m      1.38   pending

Notable assay results for the remaining 11 drill holes will be announced in due
course.

KEFI Minerals' Managing Director, Jeff Rayner, commented:

"These are pleasing results from the on-going first phase of diamond drilling
at Jibal Qutman. The drill results confirm the results from previous surface
sampling and mapping. We are continuing to drill the prospect to 100m and 50m
centres and we shall update shareholders when the next lot of drill results are
received."

KEFI Minerals' Strategic Plan in the Kingdom of Saudi Arabia

Ä°n 2009, KEFI Minerals 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
is now complete and 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.

                                    -Ends-                                     

Enquiries
                                                                             

KEFI Minerals
Jeffrey Rayner [phone]

Fox-Davies Capital
Simon Leathers [phone]

Bishopsgate Communications
Nick Rome [phone]


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 www.kefi-minerals.com


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KEFI Minerals Plc

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