Exploration Update

AIM: KEFI
          
                                                              12th April 2013

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                              Exploration Update                              

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 at the
Jibal Qutman Licence and the second phase drilling at the Selib North Licence.
Kefi Minerals is the operator for both projects under the Company's 40%-owned
Gold & Minerals Joint Venture ("G&M").

HIGHLIGHTS

  * Reverse Circulation (RC) drilling, targeted to extend the resource at Jibal
    Qutman, returned encouraging intersections, including: 13m at 4.08g/t Au,
    32m at 1.14g/t Au, 8m at 2.71g/t Au, 9m at 1.98g/t Au and 27m at 0.86g/t
    Au.
   
  * Trench channel sampling results at Jibal Qutman returned impressive
    intersections, including 95m at 1.69g/t Au, 44m at 1.56g/t Au and 5m at
    3.33g/t Au.
   
  * New "shear zone hosted" gold mineralisation discovered in the Western Zone
    at Jibal Qutman.
   
Jeff Rayner, Managing Director of KEFI Minerals, commented:

"The results of the on-going RC drilling and trenching at Jibal Qutman continue
to increase the size of the mineralised system. We are very excited about the
potential to develop a significant resource in the region and once more the
drilling results have vindicated our team's efforts.

"Our drilling is continuing to find more gold and we have yet to close off the
mineralisation along strike of any of the drilled areas. Additional drilling
capacity is being sought to step up the work rate at Jibal Qutman with the
continued focus on moving towards a pre-feasibility study. We look forward to
further developing our drilling programme and updating the market in due
course. "

JIBAL QUTMAN

Following the initial phase of 50 diamond drill holes in late 2012, RC drilling
commenced in mid January 2013 and trenching commenced in February, to expand
the newly defined gold resource, which should be amenable to shallow open cut
mining.

The gold mineralisation is primarily hosted in vein sets that dip approximately
20-45° to the East. The vein sets are comprised of massive quartz veins up to
6m wide with a halo of lower grade parallel stringer veins in zones up to
15-30m wide either side of the main vein.

In addition to the vein style mineralisation, drilling has intersected new,
wide zones of low grade gold associated with shearing and fine fracturing.
These zones dip shallowly to the East and range from 10m to 50m in width.

Both trenching and RC drilling are ongoing and all of the three zones, the
Main, South and West remain open along strike.

The best results from the first 18 RC drill holes include:

Hole No From (m)  To (m)  Interval  Au g/t Zone             
                            (m)                             
                                                            
JQRC 1     41       62       21      0.82  West Structure   
                                                            
JQRC 4     18       51       33      0.51  West Structure   
                                                            
JQRC 8     45       69       24      0.57  West Structure   
                                                            
JQRC 9      3       10       7       1.25  South Zone       
                                                            
           42       45       3       2.17                   
                                                            
JQRC 10    39       66       27      0.86  West Structure   
                                                            
JQRC 12    48       57       9       1.98  West Structure   
                                                            
           78      105       27      0.59                   
                                                            
JQRC 13    15       39       24      0.71  South Zone       
                                                            
JQRC 14    65       77       12      1.06  West Structure   
                                                            
JQRC 16    35       37       2       1.13  West Structure   
                                                            
           48       56       8       2.71                   
                                                            
JQRC 17    11       43       32      1.14  South Zone       
                                                            
JQRC 18     1       14       13      4.08  West Structure   
                                                            
           87       90       3       1.31                   

RC drilling is being carried out on 50m x 40m grid on the South and West zones.
Mineralisation at the West Zone has extended by trenching and drilling to over
300m to the North and 300m to the South of the previous work completed in Phase
1. Exploration work is ongoing and the mineralisation remains open both to the
North and South.

In addition to the quartz vein style mineralisation, a new zone of low grade
gold (0.5-1.5g/t Au) in a shear zone up to 50m wide has been discovered in this
phase of trenching and RC drilling. The shear zone was not mined by the ancient
miners and is "listric" in shape, dipping shallowly (10-20°) to the East.

In the South Zone, trenching and RC drilling has extended the quartz vein
mineralisation to over 400m to the South. Mineralisation is masked by shallow
sand cover (1-2m) going Northwards and further RC drilling is planned.

Further RC drilling and trenching to extend the Main Zone is also planned.
Currently, two RC rigs are operating on single shift.

Trenching is continuing along sections spaced 50m apart in the Main, Western
and Southern Zones and most samples are still being processed in the
laboratory. A list of best intersections received to date includes;

Trench Number  Sample interval Au g/t  Zone     
                     (m)                        
                                                
      38              6         1.19   South    
                                                
      41             15         0.66   South    
                                                
      43              2         5.55   West     
                                                
      20             14         0.64   Main     
                                                
      21             12         0.55   Main     
                                                
      88              5         3.33   West     
                                                
      89             95         1.69   West     
                                                
      90             44         1.56   West     

The lengthy intercepts in trenches 89 and 90 are due to a series of stacked
quartz veins which dip shallowly to both the East and West. RC drilling under
this area is underway and trench results further to the North of these two
trenches are awaited.

Within the area drilled up to end 2012 and also within a conceptual shallow
open cut pit shell to 40-60m below surface, a preliminary first pass estimate
of a combined mineralised zone of approximately 90,000oz Au was calculated at
an average grade of 1.25g/t Au, using a 0.2g/t Au cut-off. This is a very
preliminary estimate only and does not represent a JORC compliant resource at
this stage.

As announced on 23 January 2013, there is very good potential to significantly
increase the above drilled resource, which was estimated at the conclusion of
Phase 1 diamond drilling to a target resource in excess of 200,000oz Au and the
results from the first batch of RC drill holes and trench sampling are
continuing to support this.

SELIB NORTH

The second phase of diamond and RC drilling aimed at testing several IP
(Induced Polarisation and resistivity) and SP (Self Potential) anomalies
identified in the geophysical survey completed in December 2012 and the gold
mineralisation intersected in the first phase diamond drilling at the Camel
Hill prospect has been completed.

Results from the drilling showed that the IP anomalies were mostly attributed
to graphitic shales and pyrite mineralisation, not associated with the gold
mineralising event.

A limited number of diamond and RC drill holes were drilled into the Camel Hill
Prospect, best results being SND 18, 23-31m, 8m at 1.40g/t Au and SNRC 6,
25-30m, 5m at 2.50g/t Au.

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
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.

                                    -Ends-                                     

Enquiries

                                                                               

KEFI Minerals
Jeffrey Rayner [phone]

Fox-Davies Capital
Simon Leathers / Susan Walker [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



KEFI Minerals Plc

DoÄŸu Akdeniz Mineralleri
San. Tic. Ltd. Åžti.
Cemal Gürsel Cad.
Yalı Apt. No:304
K:4 D:9 Karşıyaka İZMİR

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