Exploration Update

AIM: KEFI                                                 12 September 2007

                               KEFI Minerals Plc                               

                      ("KEFI Minerals" or the "Company")                       

                     GOLD DISCOVERY AT THE ARTVIN PROJECT                       

KEFI Minerals is pleased to announce a gold discovery at the Yanikli Prospect
and related exploration progress at the Company's 100%-owned Artvin Project,
northeastern Turkey.

Highlights

  * Channel sampling has returned 12m at 5.0g/t gold within a broader zone
    containing 37m at 1.8g/t gold in silica-altered zone at the Yanikli
    Prospect.
   
  * Mapping has revealed that the silica-altered zone at Yanikli has a strikeof
    at least 1km and a width of 40m to 100m.
   
  * Regional geological mapping and geochemical data are being integrated and
    interpreted with more than 15new targets recently defined in the Artvin
    Project area.
   
Exploration Results

KEFI Minerals commenced exploration in the Artvin Project area in May 2007.
Exploration work completed to date has included 83 stream sediment samples and
225 rock-chip and channel-chip samples. Copper anomalies (>100ppm copper)
generated from stream-sediment sampling have focussed exploration to the 25km2
Uzumlu Prospect area which contains numerous historical mine workings,
clay-pyrite alteration with base-metal sulphide veining and stratigraphically
controlled silicification.

In addition, recent channel-chip sampling at the Yanikli Prospect (4km south of
Uzumlu) has returned 37m at 1.8g/t gold, including 12m at 5.0g/t gold. These
samples were taken at nominal 2m and 5m intervals from silica-altered volcanic
rocks. Multi-element results are pending, however visual observations indicate
this zone contains 1% to 2% zinc sulphide (sphalerite) and lead sulphide
(galena) minerals as well as trace concentrations of copper sulphide
(chalcopyrite) minerals.

Further channel-chip sampling along available road cuts and rock outcrops is
currently being undertaken at the Yanikli Prospect, as well as soil sampling on
a 200m by 50m grid. Reconnaissance geological mapping has delineated a large
1km long by 40m to 100m wide silica-pyrite alteration zone in an area of rugged
topography. This zone remains open along strike.

Detailed structural and alteration mapping has commenced around numerous small
underground mine workings in the Artvin Project area. This data has been
integrated with new stream sediment geochemistry results, digital elevation
models and remote sensing alteration data (ASTER).

Synthesis of this information has produced a consistent structural model that
explains the controls on mineralisation at the historical mines, explains the
location of and the geometry of recently mapped zones of hydrothermal
alteration (of up to 4km2 at the Uzumlu Prospect) and generated more than 15
new prospects in the Artvin Project area.

Project Summary and Geology

The Artvin Project is 100%-owned by KEFI Minerals and is located in the eastern
part of the Eastern Pontides region, which is dominated by Jurassic-Tertiary
island arc magmatic rocks formed on the Palaeozoic basement. The Artvin Project
comprises 15 Exploration Licences which cover a total of 253km2.

The Pontides belt is prospective for volcanic-hosted massive sulphides ("VHMS")
deposits, porphyry copper-gold deposits and epithermal gold-silver
mineralisation. Nearby mines and prospects are within 10 to 100km along strike
from the Artvin Project include:

  * Cayeli with reserves of 11.6 million tonnes at 3.6% copper, 5.9% zinc, 0.6g
    /t gold and 49g/t silver (owned by Inmet Mining),
   
  * Murgul with reserves of 80 million tonnes at 1.1% copper;
   
  * Cerateppe with reserves of 1.6 million tonnes at 8.8% copper, 1.1% zinc,
    1.4g/t gold and 33g/t silver (owned by Inmet Mining); and
   
  * Berta porphyry copper-gold prospect owned by Nuinsco Resources and Xstrata
    Copper.
   
The Artvin Project area consists of large areas of hydrothermal alteration and
numerous, small historical base-metal mines. These were exploited by Turkish
and Russian miners during the last 150 years. More recently, in the 1990s, the
area was explored for copper by Rio Tinto, Placer Dome and BHP, however
exploration work was largely reconnaissance in nature. Nuinsco Resources are
currently exploring the large Berta porphyry copper-gold prospect which is
located adjacent to the southwest corner of the Artvin Project area.

KEFI Minerals is the first company to utilise modern exploration methods to
systematically explore the Artvin Project area for gold.

KEFI Minerals' Managing Director, Jeffery Rayner, commented:

"The gold discovery at Yanikli is very promising both as a potential area of
development in its own right and to further support our opinion of the wider
prospects of the area. Work at the Artvin project continues apace and we have
defined more than 15 new targets in the area. KEFI Minerals is the first
company to utilise modern exploration methods to explore for gold in the region
and we are encouraged by our progress to date."

Enquiries

KEFI Minerals                WH Ireland            Bishopsgate Communications  
                                                                               
Jeffrey Rayner               Laurie Beevers        Maxine Barnes               
                                                                               
                             Katy Mitchell         Nick Rome                   
                                                                               
[phone]            [phone]      [phone]            
                                                                               
www.kefi-minerals.com                                                          

References in this announcement to exploration results and potential have been
approved for release by Mr Jeff Rayner, B.Sc. (Honours). Mr Rayner is a
geologist and has more than 20 years' relevant experience in the field of
activity concerned. He is a member of The Australian Institute of Mining and
Metallurgy (AUSIMM) and has consented to the inclusion of the material in the
form and context in which it appears.

Notes to Editors:

KEFI Minerals was formed on 24 October 2006 for the purposes of holding EMED
Mining's exploration interests in Turkey and Bulgaria with a view to creating
shareholder value through the discovery and exploitation of gold and copper
deposits.

In November 2006, KEFI Minerals completed the acquisition of EMED Mining's
Turkish and Bulgarian exploration interests through the acquisition of EMED
Mining's subsidiary Mediterranean Minerals (Bulgaria) EOOD. In addition, KEFI
Minerals acquired from EMED Mining a database of mining information relating to
Turkey.

KEFI Minerals commenced trading on AIM on 18 December 2006, following the
successful placing of 46,666,667 shares at 3p to raise £1.4 million.

In Turkey, KEFI Minerals has six exploration projects:

 1. At Derinin Tepe in the Western Anatolia Region, epithermal quartz veins
    have been identified with gold and silver mineralisation.
   
 2. At Artvin in north-eastern Turkey, areas of extensive hydrothermal
    alteration have been recognised in the project area, and there is evidence
    of historical workings indicating potential for economic mineralisation.
   
 3. At Gumushane in eastern Turkey, areas of extensive hydrothermal alteration
    have been recognised in the project area, as well as coincident areas of
    interest identified through interpretation of Aster data.
   
 4. At Karalar, in Central Anatolia, highly anomalous gold in stream sediments
    have been identified in an area of historic base metal mines.
   
 5. Muratdag, in Western Anatolia, is prospective for Carlin-style epithermal
    gold mineralisation.
   
 6. Meyvali, in Western Anatolia, is prospective for epithermal and skarn
    related mineralisation.
   
KEFI Minerals also has an extensive exploration database which contains
information about approximately 100 further prospective sites in Turkey. This
database provides the Company with a competitive advantage to identify
prospective areas for project generation in Turkey. Monitoring of the
exploration licence status of geologically prospective areas will be carried
out on an ongoing basis so that KEFI Minerals can acquire further exploration
opportunities as soon as they become available.

EMED Mining has agreed to provide technical and administrative systems and
personnel to KEFI Minerals on a cost-recovery basis, thus enabling KEFI
Minerals to reduce overheads and spend more on exploring Turkey and Bulgaria.

KEFI Minerals' Board of Directors is comprised of Mr. Harry Anagnostaras-Adams
(Chairman), Mr. Jeffrey Rayner (Managing Director), Professor Ian Plimer
(Deputy Chairman) and John Leach (Finance Director).

Further information on KEFI Minerals is available at www.kefi-minerals.com and
the Company's AIM code is "KEFI".

                                    -Ends-