Final Results

Horizonte Minerals PLC
29 April 2008

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

29 April 2008



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

                                 Final Results



Horizonte Minerals plc, the AIM listed exploration and development company
focused on Brazil and Peru, is pleased to announce its results for the year
ended 31 December 2007.



Overview



  • Strong balance sheet with £2.4 million cash available to focus on
    generative project acquisition and development
  • Fast-tracked the Lontra Nickel Laterite project in the Carajas Mineral
    Province of Northern Brazil, from a grassroots discovery in early 2007
    through to drill target definition
  • Successful 1,600m drilling programme completed over two separate zones at
    El Aguila silver-lead-zinc project in Peru. Drilling returned:
      • Zona Sur target area - 7 holes drilled, best intersections including
        12.09m at 112.9g/t Ag, 5m at 199.04g/t Ag and 0.29m at 627.9g/t Ag
      • Pacos Hill - 3 holes drilled, returned best silver grades of 18m at
        133.70g/t Ag, 5.74m at 176.62g/t Ag and 0.30m at 531g/t Ag
  • Signed US$2.8 million Option Agreement with Troy Resources for Tangara
    gold project in Brazil - potential value, subject to resource definition,
    could be in the region of US$15 million
  • Entered into an option agreement with Amarillo Gold Corporation for Mara
    Rosa gold project in Brazil. Amarillo currently undertaking a feasibility
    study on the Posse deposit just 8km to the north
  • Pipeline of new generative projects being developed in Brazil and Peru



Chairman's Statement



2007 saw Horizonte succeed in adding value to its gold, silver and base metals
exploration portfolio in South America. During the year, we implemented an
aggressive exploration and development programme across our three primary
projects, have proven our business model by signing a farm-out agreement for our
Tangara gold project in Brazil and broadened our portfolio of generative
pipeline projects for the future. However, regretfully this has not yet been
reflected in the share price despite continuing record commodity prices,
particularly of gold, which is now in new territory.



In the 27 years of my career as a geologist, the market has not seen US$900+ per
ounce gold, US$18 per ounce silver, or US$2,000 per ounce platinum. The
resurgence in worldwide demand led by China has left the markets of most mineral
commodities tight, with the subsequent high prices reflecting the lack of
exploration and significant mine development in the late 1990s and early 2000s.



On the flip side, the global effect of the U.S. induced credit crisis and the
potential recession in the world's economy is expected to soften most metal
prices in 2008, as reported by the Mineral Economics Group, in its Special
Report for PDAC 2008. However, continued strong economic growth and
infrastructure development in the so-called BRIC countries (Brazil, Russia,
India and China) and the rising need to upgrade and replace ageing
infrastructure in many established economies, should keep demand robust, thereby
keeping commodity markets tight and in turn, supporting metal prices above their
long term averages.



The critical need for reserve replacement requirements and the growth
aspirations of the major and intermediate producers, as well as the increased
competition and rising costs of replacing reserves through acquisition, should
ensure that exploration continues to be of prime importance going forward.



Our biggest challenge is to get the London market, especially investors on AIM,
to recognise companies such as Horizonte. At the moment it does not seem to be
reflecting the demand for new reserves and is instead targeting production.
Stock prices are being influenced by general market forces, rather than by the
underlying fundamentals of the companies themselves. Yet in fact the
opportunities with a Company such as yours have never been better.



It is my belief that our business model of discovering and then developing
exploration projects before joint venturing them out to the mining majors is an
effective way to add value. We have proven this model when we successfully
discovered new gold mineralisation at the Tangara project in Brazil,
fast-tracked development through exploration and drilling, and in December 2007
signed a farm-out agreement with Troy Resources to realise value.



At Tangara, Horizonte invested circa US$ 1 million in the securing and
development of the project. The three-year option agreement signed with Troy
provides regular cash payments to the Company totalling US$800,000. If over
time, Troy develops production at Tangara, there will also be medium term cash
flow to Horizonte - US$2 million cash to exercise the option after expending
US$2 million in the ground and a royalty of US$30 per ounce produced up to
500,000 oz. In summary, a small operation of 50,000 oz per annum would translate
into a benefit to your Company of US$1.5 million per annum.



The potential value, subject to a resource definition, could be in the region of
US$15 million. We have demonstrated added value through early stage exploration,
and Troy are taking the added financial exposure to develop the project, which
fits with their development of the Andorinhas Mine nearby. We hope to repeat
similar agreements for our primary and pipeline projects to help realise
Horizonte's true economic potential.



This funding will contribute to Horizonte continuing to do what it is best at,
generating and defining new projects at the low end of the cost spectrum of the
resource business by discovery. The Horizonte team has continued to create more
value in its portfolio during 2007 and early this year. The Lontra nickel
project in Brazil has developed rapidly with very encouraging early results.
This project will continue to be advanced this year and we have interest already
from potential partners. We continue to advance our other Brazilian projects
including Falcao, which we hope the market will recognise going forward.



Latin America continues to be a popular destination for exploration and
Horizonte is active in two of the big five - Brazil and Peru, the others being
Chile, Argentina and Mexico. The El Aguila project in Peru continues to show
encouraging high-grade silver-zinc-lead drill intersections. It is the
characteristic that these systems extend to great depths. The drilling to date
has shown continuity and most encouragingly increased width at depth. We are
reviewing the latest results with a view to undertaking further deep drilling if
merited. In the meantime we are engaged in discussions with potential partners.



Peru is still a country with massive discovery potential and I am delighted to
say we have strengthened the team there with a view to expanding our
exploration. We already are reviewing a number of opportunities that will
hopefully have the ability to add further value to the Company.



Despite the London market's reluctance to acknowledge the increased value that
Horizonte has added in 2007, we are continuing to engage investors with the
Horizonte story. The appointment of Fairfax as our new Nominated Adviser and
Broker is part of this initiative. Fairfax's mining and metals team is led by
the highly respected John Meyer, one of the leading London analysts. The fact
that they have agreed to take on Horizonte surely shows that they appreciate the
potential value of the Company and want to see it better recognised in the
market.



Finally it remains to thank you for your continuing support for the Company. I
would like to acknowledge the efforts of my fellow Board members, and especially
your incredibly dedicated and hard working C.E.O. Jeremy Martin, only matched by
an equally dedicated and little seen, Nick Winer, C.O.O. on the ground.





David J. Hall

Chairman

28 April 2008





Consolidated Income Statement
For the year ended 31 December 2007


                                                                      Year ended         Year ended
                                                                          31                 31
                                                                     December 2007      December 2006
                                                                                 £                  £
     Revenue                                                                     -                  -

     Cost of Sales                                                               -                  -

     Gross Profit                                                                -                  -

     Administration Expenses                                             (513,551)          (240,475)

     Gain/(Loss) on Foreign Exchange                                         3,180            (6,580)

     Loss from Operations                                                (510,371)          (247,055)

     Finance Income                                                         96,859             58,999

     Loss before Taxation                                                (413,512)          (188,056)

     Taxation                                                                    -                  -

     Retained Loss for the Year attributable to Equity                   (413,512)          (188,056)
     Shareholders

     Loss per Share (pence) - Basic and diluted                             (1.20)             (0.76)



There are no recognised gains or losses other than the results for the year as
set out above.



Consolidated Balance Sheet
As at  31 December 2007


                                                                        As at              As at
                                                                     31 December        31 December
                                                                        2007               2006
                                                                          £                 £

     ASSETS

     Non-Current Assets

     Intangible Assets                                                   2,285,037         1,445,195
     Property, Plant & Equipment                                             1,169               972
                                                                         2,286,206         1,446,167
     Current Assets

     Trade and Other Receivables                                           104,552             2,793
     Cash and Cash Equivalents                                           2,390,398         1,427,044
                                                                         2,494,950         1,429,837
     Total Assets                                                        4,781,156         2,876,004


     EQUITY AND LIABILITIES

     Equity

     Issued Capital                                                        404,477           295,077
     Share Premium                                                       5,771,728         3,793,147
     Other Reserves                                                    (1,048,100)       (1,048,100)
     Retained Earnings                                                   (618,755)         (255,687)
     Total Equity

                                                                         4,509,350         2,784,437


     Current Liabilities

     Trade and Other Payables                                              271,806            91,567
     Total Liabilities                                                     271,806            91,567

                                                                           

     Total Equity and Liabilities                                        4,781,156         2,876,004






Consolidated Statement of Changes in Equity



                                          Share       Share       Accumulated        Other        Total
                                        Capital     Premium         Losses        Reserves
                                              £            £                £             £            £

     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
     Issue Costs                              -    (395,876)                -             -    (395,876)
     Merger Reserve                           -            -                -       500,000      500,000
     Share options - value of                 -            -            3,306             -        3,306
     employee services
     Loss for the Period                      -            -        (188,056)             -    (188,056)
     As at 31 December 2006 and 1       295,077    3,793,147        (255,687)   (1,048,100)    2,784,437
     January 2007

     Issue of Ordinary Shares           109,400    2,078,600                -                  2,188,000
     Issue Costs                              -    (100,019)                -             -    (100,019)
     Share options - value of                 -            -           50,444             -       50,444
     employee services
     Loss for the Period                      -            -        (413,512)             -    (413,512)
     As at 31 December 2007             404,477    5,771,728        (618,755)   (1,048,100)    4,509,350




Consolidated Cash Flow Statement
For the year ended 31 December 2007


      Consolidated Cash Flow Statement                               Year ended 31       Year ended 31
                                                                     December 2007       December 2006
                                                                                  £                   £
      Cash flows from operating activities
      Loss before taxation                                                (413,512)           (188,056)
      Interest income                                                      (96,859)            (58,999)
      Employee share options charge                                          50,444               3,306
      Project impairment                                                     50,888                   -
      Depreciation                                                              381                 254
      Operating loss before changes in working capital                    (408,658)           (243,495)

      Increase in trade and other receivables                             (101,759)             (2,326)
      Increase in trade and other payables                                  180,239              59,778
      Net cash outflow from operating activities                          (330,178)           (186,043)

      Cash flows from investing activities
      Net purchase of intangible assets                                   (890,730)           (792,425)
      Purchase of property, plant and equipment                               (578)             (1,226)
      Interest received                                                      96,859              58,999
      Net cash used in investing activities                               (794,449)           (734,652)

      Cash flows from financing activities
      Proceeds from issue of ordinary shares                              2,087,981           1,904,124
      Change in short term borrowings                                             -            (55,580)
      Net cash inflow from financing activities                           2,087,981           1,848,544

      Net increase in cash and cash equivalents                             963,354             927,849

      Cash and cash equivalents at beginning of year                      1,427,044             499,195

      Cash and cash equivalents at end of the year                        2,390,398           1,427,044

      Consisting of:
      Group cash                                                          2,390,398           1,427,044






NOTES TO THE FINANCIAL STATEMENTS



1. Basis of preparation

This financial information above 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 and on a going concern basis. 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.



2. Dividends

No dividend has been declared or paid by the Company during the year ended 31
December 2007 (2006:nil).



3. Loss per share

The basic loss per share is 1.20p (2006: 0.76p) and the diluted loss per share
is 1.20p (2005:0.76p).



The basic loss per share is calculated by dividing the loss for the year of
£413,512 (2006: £188,056) by 34,513,091 (2006:24,656,525) ordinary shares, being
the weighted average number of shares in issue.



The diluted loss per share is the same as the basic loss per share as the
options that were in existence have an anti-dilutive effect on the loss per
share and therefore have not been taken into account.



4. Copies of the Annual Report



Copies of the Annual Report and Accounts will be sent to shareholders in due
course and further copies will be available on the Company's website,
www.horizonteminerals.com, or from the Company's registered office, 22 Grafton
Street, London W1S 4EX.





                                  * * ENDS * *



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

Jeremy Martin/David Hall                  Horizonte Minerals plc         Tel: [phone]
Jeremy Porter/Laura Littley               Fairfax I.S. PLC               Tel: [phone]
Hugo de Salis/ Felicity Edwards           St Brides Media & Finance Ltd  Tel: [phone]



Notes to Editors:

Horizonte Minerals plc is an AIM listed exploration and development company with
a portfolio of gold, nickel, silver, lead and zinc projects in producing mineral
districts in Brazil and Peru.  It has three primary projects working towards a
resource definition including the 22,556 hectare Lontra nickel project situated
in the Araguaia mobile belt, which flanks the eastern margin of the Carajas
Mineral Province of northern Brazil, the silver-zinc-lead project El Aguilia in
Peru, located in the historic mining district of Cerro de Pasco and the 300 sq
km Falcao gold project located near the Lontra project. In addition it has a
generative pipeline of early stage projects in development.



The Company is focused on generating and rapidly advancing exploration projects
before joint venturing them with a major mining company to further develop the
projects and provide mid-term cash flow, which can be fed back into the business
and its other projects.  This model was proven in December 2007 when Horizonte
signed an option agreement with Troy Resources (ASX:TRY), to operate and develop
its Brazilian Tangara gold project by expending a total US$2.8 million on
exploration and development as well as a royalty payment on production.




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