Non Exercise of Option

AIM: KEFI 16 January 2012

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

 NON EXERCISE OF EXCLUSIVE OPTION OVER THE TIOUIT MINE AND TAILINGS RETREATMENT 
                              PROJECTS IN MOROCCO                              

KEFI Minerals, an AIM-quoted gold and copper exploration company with projects
in Turkey and the Kingdom of Saudi Arabia, reports that it has decided to allow
its exclusivity period, over the tailings retreatment project and mining of
remnant ore at the Tiouit Mine in Morocco, to lapse.

The due diligence and evaluation work that was conducted during the exclusivity
period, since July 2011, which involved drill testing, metallurgical testwork,
the compilation of historic mining and exploration data; and the investigation
of abandoned underground mine works, demonstrated less potential than initially
envisaged.

The company will continue to focus its efforts on the gold and copper projects
held by the Gold and Minerals JV in Saudi Arabia and assessments in other
regions.

Enquiries:

KEFI Minerals

Jeffrey Rayner [phone]

Fox-Davies Capital

Simon Leathers [phone]

Bishopsgate Communications

Nick Rome [phone]

Competent Person Statement

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.

                                    -Ends-