Interim Results

Horizonte Minerals PLC
05 September 2007

        Horizonte Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining

5 September 2007

             Horizonte Minerals plc ('Horizonte' or 'the Company')
                                Interim Results

Horizonte Minerals plc, the AIM listed exploration and development company with
assets in Brazil and Peru, is pleased to announce its interim results for six
months ended 30 June 2007.

Overview

  • Advanced the Brazilian and Peruvian portfolio through focussed exploration
    programmes
  • 1500 metre diamond drilling completed at Tangara Brazilian gold project,
    results awaited
  • Acquired 256 sq km Lontra nickel play in Brazil - encouraging soil
    anomalies being followed up by auger drilling and rock sampling
  • Sampling at El Aguila Zona Sur target returned excellent grades averaging
    0.24g/t Au, 10.24 oz/t Ag, 4% Pb and 5.6% Zn - detailed ground geophysical
    programme complete, with a 2000m drilling program planned for Q4
  • Actively reviewing and evaluating other generative opportunities
  • Raised £2.2 million to further develop portfolio



Chairman's Statement

I am pleased to report on the six months ended 30 June 2007, which has proven to
be yet another busy period.  Your Company has aggressively developed its
existing Brazilian and Peruvian portfolio through focussed exploration
programmes and has further strengthened its South American presence by acquiring
the exciting Lontra nickel play in Brazil.

Brazil

At our flagship Tangara gold project, the first phase drilling results were
critically reviewed and it was agreed that the project justified a second phase
of drilling. The initial drill programme covered a large area of over three
kilometres and the discovery hole on the Gerson Trend clearly highlighted the
potential for economic mineralisation.  Focused exploration, including detailed
mapping, additional geochemistry and ground geophysics, resulted in a second
round of 1500 metre diamond drilling being carried out. We hope to release
results from this programme in the near future with the aim of attracting a
joint venture partner to assist in taking the project forward.

Horizonte has in a short time rapidly advanced the Lontra nickel play in the
Araguaia mobile belt, which flanks the eastern margin of the Carajas Mineral
Province in southern Para state. Situated 65 km southeast of Horizonte's Tangara
gold project, this 256 sq km project consists of five exploration claims.

The Araguaia mobile belt is a major new lateritic nickel province, which
contains a number of large deposits scheduled to enter into production.   While
Teck Cominco has claims to the south/southeast of the Lontra Project, Xstrata
has claims to the north/northwest including a major grassroots lateritic nickel
discovery at Serra da Tapa, which has a global resource of 73Mt at 1.5% Ni and
0.06% Co.  Other lateritic nickel deposits in the area being developed or with
defined resources include the Niquel do Vermelho, Onca Puma and the Jacare
deposits.

Initial encouraging soil anomalies over seven areas are now being followed up by
auger drilling and rock sampling to date has returned values greater than 1% Ni
thus highlighting Lontra's potential. We are currently awaiting further results,
which we will report on in due course.

Peru

The Company has further evaluated the El Aguila high grade silver-zinc-lead-gold
project by large scale geological mapping, geochemistry and ground geophysics.
Our work has centred on the veins in the Pacos Hill claim, which is in an area
surrounded by active mines.  More recently, we have focussed on Zona Sur to the
south of Pacos Hill, where sampling has returned excellent grades averaging
0.24g/t Au, 10.24 oz/t Ag, 4% Pb and 5.6% Zn.  On the back of these results, we
have now commenced a detailed ground geophysical programme over a large area of
the Zona Sur with the view to defining additional targets for drilling that will
commence in Q4 of this year.

Outlook

Despite the recent correction in the market, the resource sector is still
buoyant with most commodities continuing to demonstrate high prices. Horizonte
successfully raised £2.2 million before the summer break, illustrating the
confidence the market has in our management and the quality of our portfolio.
Your Company is now well funded to continue to develop its portfolio with a view
to a potential joint venture, option or sale on one its assets if it is
perceived that to do so will achieve maximum shareholder value.

The remainder of 2007 should see the development of the Company with the key
focus remaining on El Aguila, Lontra and Tangara. In addition, your management
is actively seeking, reviewing and evaluating other potentially generative
opportunities. I would like to take this opportunity to extend my thanks to the
board and to you, our shareholders, for your continuing support.

David J. Hall
Chairman



Interim Results

Consolidated Income Statements                        Period           Period          Period
                                                     1-Jan-07         1-Jan-06        1-Jan-06
                                                    30-Jun-07        30-Jun-06        31-Dec-06
                                                    Un-audited       Un-audited        Audited
                                           Note                 £                £               £

Revenue                                                         -                -               -
Cost of Sales                                                   -                -               -

Gross Profit                                                    -                -               -
Administrative Expenses                                 (168,815)         (69,019)       (240,475)
Gain/(Loss) on Foreign Exchange                            39,754           33,845         (6,580)

Loss from Operations                                    (129,061)         (35,174)       (247,055)
Finance Income                                             30,425           17,656          58,999

Loss before Taxation                                     (98,636)         (17,518)       (188,056)
Taxation                                                        -                -               -

Retained Loss for the Period attributable                (98,636)         (17,518)       (188,056)
to Equity Shareholders

Loss per share (pence) -Basic and Diluted 2                (0.33)           (0.10)          (0.76)




Consolidated Balance Sheet
                                                          30-Jun-07       30-Jun-06       31-Dec-06
                                                         Un-audited      Un-audited        Audited
                                                                  £               £               £
ASSETS
Non-Current Assets
Intangible Assets                                         1,793,291         893,686       1,445,195
Property, Plant and Equipment                                   818             944             972
                                                          1,794,109         894,630       1,446,167
Current Assets
Trade and Other Receivables                                   8,423          21,322           2,793
Cash and Cash Equivalents                                   992,562       2,102,995       1,427,044
                                                          1,000,985       2,124,317       1,429,837
Total Assets                                              2,795,094       3,018,947       2,876,004


EQUITY AND LIABILITIES
Equity
Issued Capital                                              295,077         295,077         295,077
Share Premium                                             3,793,147       3,793,147       3,793,147
Other Reserves                                          (1,048,100)     (1,048,100)     (1,048,100)
Retained Earnings                                         (354,323)        (89,018)       (255,687)
Total Equity                                              2,685,801       2,951,106       2,784,437


Current Liabilities
Borrowings                                                                        -               -
Trade and Other Payables                                    109,293          67,841          91,567
Total Liabilities                                           109,293          67,841          91,567

Total Equity and Liabilities                              2,795,094       3,018,947       2,876,004




Consolidated Statement of Changes in Equity

                                    Share      Share     Retained        Merger
                                   Capital   Premium £   Reserve         Reserve       Total
                                      £                       £             £            £
                                                                                         
As at 1 January 2006                218,410    1,965,690     (70,937)   (1,548,100)      565,063
Issue of Ordinary Shares             76,667    2,223,333            -             -    2,300,000
Issuance Costs                            -    (395,876)        (563)             -    (396,439)
Movement on Merger Reserve                -            -            -       500,000      500,000
Loss for the period                       -            -     (17,518)             -     (17,518)
As at 30 June 2006                  295,077    3,793,147     (89,018)   (1,048,100)    2,951,106

As at 1 January 2007                295,077    3,793,147    (255,687)   (1,048,100)    2,784,437
Loss for the period                       -            -     (98,636)             -     (98,636)
As at 30 June 2007                  295,077    3,793,147    (354,323)   (1,048,100)    2,685,801



Consolidated Cash Flow Statement
                                                        Period          Period          Period
                                                       1-Jan-07        1-Jan-06        1-Jan-06
                                                       30-Jun-07       30-Jun-06       31-Dec-06
                                                      Un-audited      Un-audited        Audited
                                                                  £               £               £
Cash flows from operating activities
Loss before taxation                                       (98,636)        (17,518)       (188,056)
Interest income                                            (30,425)        (17,656)        (58,999)
Employee Share Options                                            -               -           3,306
Depreciation                                                    154             113             254
Operating loss before changes in working capital          (128,907)        (35,061)       (243,495)

Increase in trade and other receivables                     (5,630)        (20,855)         (2,326)
Increase in trade and other payables                         17,726          36,052          59,778
Net cash outflow from operating activities                (116,811)        (19,864)       (186,043)


Cash flows from investing activities

Purchase of intangible assets                             (348,096)       (240,916)       (792,425)
Purchase of property, plant and equipment                         -         (1,057)         (1,226)
Interest received                                            30,425          17,656          58,999
Net Cash used in investing activities                     (317,671)       (224,317)       (734,652)

Cash flows from financing activities
Proceeds from issue of ordinary shares                            -       1,903,561       1,904,124
Change in short term borrowings                                   -        (55,580)        (55,580)

Net cash inflow from financing activities                         -       1,847,981       1,848,544

Net increase/(decrease) in cash and cash                  (434,482)       1,603,800         927,849
equivalents

Cash and cash equivalents at beginning of period          1,427,044         499,195         499,195
Cash and cash equivalents at end of period                  992,562       2,102,995       1,427,044
Consisting of:
Group Cash                                                  992,562       2,102,995       1,427,044





Notes to Interim Results

1. Basis of preparation

This financial information has been prepared in accordance with International
Financial Reporting Standards (IFRS) and IFRIC interpretations, as adopted by
the European Union and those parts of the Companies Act 1985 applicable to
companies reporting under IFRS. The financial information has been prepared
under the historical cost convention. The financial information is in conformity
with generally accepted accounting   principles and requires the use of
estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period.  Although these estimates are
based on management's best knowledge of the amount, event or actions, actual
results ultimately may differ from those estimates.

The financial information set out above does not constitute statutory accounts
within the meaning of Section 240 of the Companies Act 1985.  It has been
prepared on a going concern basis in accordance with the International Reporting
Standards. The accounting policies applied in preparing the financial
information are consistent with those that were adopted in the Group's 2006
statutory accounts.

The financial information for the periods ended 30 June 2007 and 30 June 2006
has not been audited.

2. Loss per share

The loss per share is 0.33p (2006: 0.1p).

The loss per share is calculated by dividing the loss for the period of £98,636
(2006: £17,518) by 29,507,700 (2006: 17,413,744) ordinary shares, being the
weighted average number of shares in issue. There is no difference between the
diluted loss per share and the loss per share shown.

3. Post Balance Sheet Event

In July 2007 the company issued 10,940,000 1p ordinary shares through a placing 
at 20 pence per share raising gross proceeds of £2.19m.



Independent review report to the Directors of Horizonte Minerals plc

Introduction

We have been instructed by the Company to review the financial information for
the six months ended 30 June 2007 which comprises the consolidated income
statement, the consolidated balance sheet, the consolidated statement of changes
in equity and the consolidated cash flow statement and the related notes to the
accounts and we have read the other information contained in the interim report
and considered whether it contains any apparent misstatements or material
inconsistencies with the financial information.

This report, including the conclusion, has been prepared for and only for the
Company for the purpose of the AIM Rules of the London Stock Exchange and for no
other purpose.  We do not, in producing this report, accept or assume
responsibility for any other purpose or to any other person to whom this report
is shown or into whose hands it may come, save where expressly agreed by our
prior consent in writing.

Directors' Responsibilities

The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by the Directors.  The Directors
are responsible for preparing the interim report in accordance with the AIM
Rules of the London Stock Exchange which require that the accounting policies
and presentation applied to the interim figures should be consistent with those
applied in preparing the annual accounts except where any changes, and the
reasons for them, are disclosed.

Review Work Performed

We conducted our review in accordance with the guidance contained in Bulletin
1999/4; the review of interim financial information issued by the Auditing
Practices Board for use in the United Kingdom. A review consists principally of
making enquiries of management and applying analytical procedures to the
financial information and underlying financial data and, based thereon,
assessing whether the accounting policies and presentation have been
consistently applied unless otherwise disclosed.  A review excludes audit
procedures such as tests of controls and verification of assets, liabilities and
transactions.  It is substantially less in scope than an audit performed in
accordance with International Standards on Auditing (UK and Ireland) and
therefore provides a lower level of assurance than an audit.  Accordingly, we do
not express an audit opinion on the financial information.

Review Conclusion

On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 June 2007.

CLB Littlejohn Frazer
Chartered Accountants
1 Park Place
Canary Wharf
London E14 4HJ





                                  * * ENDS * *



For further information visit www.horizonteminerals.com or contact:

Jeremy Martin/David Hall     Horizonte Minerals plc         Tel: [phone]
David Paxton                 Hichens Harrison               Tel: [phone]
Hugo de Salis                St Brides Media & Finance Ltd  Tel: [phone]
John Frain/Fergal Meegan     Davy                           Tel: [phone]





                      This information is provided by RNS
            The company news service from the London Stock Exchange