Exploration Update

Kefi Minerals plc
11 June 2007



AIM: KEFI                                                           11 June 2007

                               KEFI Minerals Plc
                       ('KEFI Minerals' or the 'Company')

                 EXPLORATION PROGRESS AT DERININ TEPE PROSPECT

KEFI Minerals is pleased to provide the following update on recent exploration
progress. The Company is primarily targeting large epithermal gold or porphyry
gold-copper systems analogous to several +1 million ounce deposits recently
discovered and developed in the Western Anatolia region of Turkey.


HIGHLIGHTS

  • All permits for trenching and diamond drilling have been received for
    the Derinin Tepe Prospect, and first-phase trenching across ancient workings
    has commenced;

  • An initial diamond drilling programme at Derinin Tepe has been scheduled
    to commence in July; and

  • Exploration sampling and geological mapping has commenced at the Meyvali
    and Muratdag Exploration Licences.

KEFI Minerals' Managing Director, Jeff Rayner, commented: 'Our exploration 
team is rapidly advancing the Derinin Tepe prospect towards the Company's first 
drilling program. In addition to systematically progressing exploration on 
current prospects, our geologists are continuing to evaluate properties 
identified by the Company's proprietary database for potential acquisition. 
We look forward to further updating the market in due course.'

Derinin Tepe Licence

The receipt of required permits has enabled trenching to commence at the Derinin
Tepe Exploration Licence, as well as the planned commencement of a diamond
drilling program in July. Initial exploration work has confirmed the licence is
prospective for low-sulphidation epithermal gold deposits.

Sampling of trenches across the parallel quartz veins at Derinin Tepe will
follow-up previously reported encouraging assay results and test prospective
extensions along strike. Rock-chip sampling the main quartz vein returned up to
152g/t gold and 229g/t silver in an area of ancient workings. Rock-chip sampling
of the western quartz vein returned 6m at 3.3g/t gold, 2m at 9.6g/t gold and 1m
at 7.2g/t gold. These initial programs sampled only a small portion of the
northwest-trending quartz veins which have a known strike extent of at least one
kilometre within the Company's licence.

The areas of ancient workings, comprised of shallow pits and stopes, have been
either covered or back filled and hence can only be sampled by trenching.
Approximately 40 short trenches have been planned to test the quartz veins at
Derinin Tepe. Trenches are planned across the workings as well as along strike
where the veins are poorly exposed. Results from the trench sampling are
expected by late June.

Structural mapping has shown that the areas of maximum vein widths are a result
of intersecting vein structures and where the veins change strike direction to
produce dilational zones. The ancient workings are co-incident with these zones.

An initial diamond drilling programme of up to 600m has been scheduled to
commence in July.

The Derinin Tepe Exploration Licence was acquired in early 2007 and is located
in the highly prospective Balekisir Province in Western Anatolia, Turkey.


Muratdag Licence

Geological mapping and soil sampling has commenced in the recently granted
Muratdag Exploration Licence. The area is prospective for Carlin-type gold
deposits and nickel mineralisation in laterites.

A number of historical workings for mercury are present immediately to the west
and north of the prospect areas. Initial modern exploration was carried out by
the Australian company Nuigini Mining from 1989 to 1991. These exploration
results are included the proprietary database purchased by KEFI Minerals and
exemplifies how the database enables the Company to rapidly target highly
prospective areas.

Gold is hosted in a series of faults and in decalcified and 'sinterised'
limestone, similar to the sediment hosted, Carlin-type gold deposits of Nevada.

The Muratdag Licence is located in the Simav Graben, Western Anatolia, Turkey

Meyvali Licence

Stream sediment sampling and mapping has commenced at the Meyvali Prospect The
prospect is located 10km to the east of Derinin Tepe and is prospective for
epithermal gold mineralisation and polymetallic skarn-type mineralisation.
Reconnaissance rock-chip sampling has returned up to 4% lead and anomalous gold.

                                     -Ends-

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. A further
£0.35 million was raised in a placement at 3p in February 2007. The total of
100,583,334 shares are currently on issue.

In Turkey, KEFI Minerals has six exploration projects:

 1. At Artvin in northeastern 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.

 2. 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.

 3. At Derinin Tepe in the Western Anatolia Region, epithermal quartz veins have
    been identified with gold and silver mineralisation.

 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'.


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