Agreement with Troy Resources

Horizonte Minerals PLC
06 December 2007



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


6th December 2007

             Horizonte Minerals plc ('Horizonte' or 'the Company')
     Tangara Gold Project Option Granted to Australian Miner Troy Resources


Overview


  • US$2.8 million Option Agreement with Troy Resources for the Tangara gold
    project in Brazil
  • US$800,000 staged cash payment, US$2.0 million exploration and development
    commitment
  • Additional US$2 million cash payment upon exercise of option to advance
    project to production
  • Royalty to Horizonte of US$30 per ounce up to 500,000 oz produced
  • Net Smelter Return ('NSR') of 2% on production in excess of 1 million oz
    gold
  • Agreement fast tracks the development of the Tangara gold project and
    provides mid term cash flow potential for the Company
  • Incoming funds allow Horizonte to fast track resource development on other
    core projects

Horizonte Minerals plc, the AIM listed exploration and development company
focused on Brazil and Peru, has signed an Option Agreement with Troy Resources
(ASX:TRY), through its wholly owned subsidiary Reinarda Mineracao Ltda, to
operate and develop Horizonte's Tangara Gold Project in the Carajas Mineral
Province in Brazil.  The agreement provides Horizonte with a staged cash payment
of US$800,000, a further US$2 million exploration and development commitment as
well as a royalty payment on production.  This demonstrates both Troy's and the
Company's belief that the area has the potential to host economic gold
mineralisation.

Horizonte CEO Jeremy Martin said, 'This agreement highlights the prospectivity
and potential of Tangara.  It ensures that the project is fast tracked and
receives the high cost investment associated with resource development leading
through to production.  It confirms our business model of risk managing our
exploration programmes and provides Horizonte with a return on its investment,
with potential for significant mid term cash flow from royalties on future
production.  Troy is an excellent mining partner with a proven track record of
fast tracking projects to production. The Tangara project has excellent
infrastructure, especially considering Troy will be commencing production in
early 2008 at the Andorinhas gold project just 20km to the south of Tangara.  We
look forward to developing the strategic association between both companies.
The funds from this transaction will be used to fast track our other core
projects through to the resource definition stage.'

Work completed at Tangara over the last 18 months has included soil and stream
sediment sampling, ground geophysics, auger and diamond drilling, with the main
focus being the Malvinas target, a 5km long by 1km wide gold in soil anomaly.
The drilling here returned multiple economic intersections including:


  • DDH 4  - 35m grading 2.5 g/t Au, including 6.75m grading 9.8 g/t Au
  • DDH13 - 12m grading 5.0 g/t Au, including 2m grading 18.7 g/t  Au
  • DDH14 - 2m @ 4.8 g/t Au
  • DDH23 - 2m @ 4.25 g/t Au
  • DDH24 - 4m @ 2.4 g/t Au



Troy is building its land position in the area with mining scheduled to start at
the Andorinhas gold project in January 2008, located 20km to the south of
Tangara, where the Lagoa Seca satellite deposit contains indicated and inferred
resources of 700,000 tonnes grading 2.8 g/t Au for 64,000 oz.  Open-pit
modelling here has defined a probable reserve of 480,000 tonnes grading 3.1 g/t
Au for 48,320 oz (Source: Troy Quarterly Report ended 30 June 2007).  By
combining both companies' exploration packages, the production potential is
enhanced.


Terms of the Option Agreement

The three year Option Agreement entitles Troy to acquire 100% of the Tangara
project by making cash payments totalling US$800,000 to Horizonte.  US$200,000
is payable on signing and a further US$100,000 paid every six months thereafter.
In addition Troy must expend US$2 million on exploration on the project within
three years. If Troy wishes to exercise the option after three years, it will
make a further payment of US$2 million to the Company. Troy will then make a
production royalty payment to Horizonte of US$30 for every ounce of gold
produced from the Tangara project area up to a maximum of 500,000 oz.  In the
event of more than 500,000 oz being produced, a royalty of 1% NSR shall apply.
This royalty will increase to 2% NSR in the event of production exceeding 1
million oz.


Sampling, assaying, and QA/QC

Procedures adopted by Horizonte in the collection, preparation and storage of
samples from the auger drilling programme, conform to industry-wide best
practice and with chain of custody being observed for all samples. Analysis is
undertaken by ACME Labs at its laboratories in Vancouver, Canada, and the
Company maintains QA/QC on all analytical work via the inclusion of certified
reference materials and field duplicates and blanks, in addition to monitoring
of the laboratory's own internal check-analysis.

The above information has been reviewed and verified by Mr. Jeremy Martin, a
Director and Chief Executive of Horizonte, for the purposes of the Guidance Note
for Mining, Oil and Gas Companies issued by the London Stock Exchange in March
2006. Mr. Martin, with seven years of mining and management experience,
graduated with a degree in geology from the Camborne School of Mines, and an MSc
in mineral exploration from the University of Leicester and is a member in good
standing with the Society of Economic Geologists and the Institute of Mining
Analysts.

                                  * * 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]




Notes to Editors:

Horizonte Minerals Plc is an AIM listed mineral resources exploration group
focused on the discovery, appraisal and development of gold and base metal
deposits in Brazil and Peru.  The Company has two primary gold exploration
projects in Brazil, and one silver-zinc-lead project in Peru. The two Brazilian
gold projects, Tangara and Falcao, are located to the south of the highly
prospective Carajas Mineral Province. Both projects cover an area of
approximately 300 sq km and are centred over greenstone belts, with known gold
mineralisation. The scale of these project areas, the overall aerial extent of
the mineralised system and the high density and magnitude of related gold
anomalies (identified in river sediments, surface soils and rocks), indicate the
potential for multiple deposit discoveries.

The silver-zinc-lead project is located in the historic mining district of Cerro
de Pasco in Central Peru. Sampling and limited historic drilling on this project
has demonstrated the high grade potential of this project. Additional projects
include the 4,660 hectare on the prospective Achaean aged Crixas greenstone
belt, where multiple nickel-copper anomalies have been defined and the 25,556
hectare Lontra Ni Project situated in the Araguaia mobile belt, which flanks the
eastern margin of the Carajas Mineral Province of northern Brazil.




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