NPM Neptune Min

RNS Number:3912S
Neptune Minerals Plc
10 October 2005


10 October 2005

                              Neptune Minerals Plc

                                Admission to AIM


Neptune Minerals Plc ("Neptune" or "the Company"), an explorer and developer of
Seafloor Massive Sulphide ("SMS") deposits, is pleased to announce today the
commencement of trading in its ordinary shares and warrants on AIM.

As part of the flotation, Corporate Synergy Plc has raised #9.3 million through
the placing of 37,200,000 new ordinary shares at 25p per share. Each new
ordinary share has 1 warrant attached exercisable at 25p for five years from the
date of the admission.

The anticipated net proceeds of #8.3 million capital raised will initially be
applied to resource definition drilling in New Zealand, which is planned to
commence soon.  An ongoing program of geophysical survey and engineering
feasibility studies will also be undertaken to progress acreage
commercialisation, in addition to the ongoing evaluation of other international
SMS opportunities.

Simon McDonald, Chief Executive, said:

"We are delighted that the flotation of the Company was so well received by
investors. This demonstrates confidence in our proposed definition and
development strategy. The listing on AIM will provide the financial platform for
our next stage of development, namely to undertake the planned appraisal
drilling as soon as practicable.  We believe that the information from this
drilling program will move us towards the identification of a bankable mineral
resource."

Corporate Synergy Plc is the Nominated Adviser and Broker to the Company.


For further information please contact:

Corporate Synergy                         T: 020 7448 4400
Olly Cairns / Gavin Haywood

Cardew Group                              T: 020 7930 0777
Nadja Vetter                              M: 07941 340 436
Sofia Rehman                              M: 07771 683 185

Company                                   info@nepmins.com


Notes to Editors:

Background

Seafloor massive sulphide (SMS) deposits are a potential new mining asset class,
containing high grades of copper, zinc, lead, gold and silver, that has not yet
been commercially developed anywhere in the world.

The Directors believe that existing marine technologies widely used within the
offshore oil and gas, marine diamond and cable laying industries can be adapted
to render the exploitation of metals and minerals on the seafloor practicable
and economic.

Neptune has secured a mineral prospecting licence for SMS deposits in New
Zealand controlled waters.

Metal contents from existing seafloor rock samples are generally higher than
equivalent deposits mined commercially onshore around the world.

The proceeds of the flotation will be used to fund the next stage of the
Company's progress towards the commercial recovery of SMS deposits. Neptune has
identified targets for definition drilling, which it aims to be undertaking
before the end of 2005.

Growth Strategy

The Company's business strategy is to be at the forefront of the identification
and commercialisation of SMS deposits worldwide.  Neptune Minerals is well
positioned to take advantage of the extensive research already undertaken by New
Zealand and international research organisations combined with the latest
technologies available within the marine contracting industry.  Neptune will
also retain 100% ownership of its exploration interests as far as practicable
during the prospecting and commercial evaluation phases.

Although the initial operational focus will be to progress the New Zealand
acreage, the Company will evaluate exploration opportunities in other
international jurisdictions where it believes these hold the potential for
hosting SMS mineral deposits capable of economic development.

Neptune's management believes that its significant experience and operational
skills in the mineral and oil and gas industries provide a solid platform to
successfully implement the Company's business strategy.

Group Overview

Neptune Resources, the predecessor business to Neptune, was established in 1999
to explore, develop and commercialise SMS deposits in an area offshore north
west of New Zealand. In 2002, it was granted title as a Prospecting Licence 
("PL") (PL 39-195) and holds Applications for Prospecting Licences ("APPLs") 
(APPL 39-194 and APPL 39-205) over all known prospective SMS areas within New 
Zealand controlled waters. The Company is actively seeking further SMS mineral 
rights elsewhere.

Neptune has acquired significant amounts of technical data, based on over 15
years of academic research in New Zealand waters. This research effectively
replaces the initial stages of a traditional exploration programme. Neptune's
work will therefore commence at a more advanced stage of evaluation and the
Company has identified at least two targets for definition drilling.

There are 12 volcanic seamounts containing prospective SMS deposits that have
been identified in PL 39-195 alone. More seamounts have been identified by
Neptune within the areas under application, using seafloor mapping imagery.

Neptune also enjoys the added benefit of operating in a particularly stable
geopolitical environment. The application for SMS prospecting licences was
subjected to extensive regulatory and stakeholder review, including the
formation of a New Zealand Oceans Policy committee to review the merits of
seafloor mineral prospecting. The first licence, PL 39-195, was granted under
the New Zealand Continental Shelf Act in October 2002, giving exclusive rights
to explore and commercialise certain mineral deposits.  After 4 years the
tenement, which covers an area of some 8,000 km(2), can be retained as a PL with
a 50% reduction in area, or a Mining Licence (ML) may be applied for over the
area.

Neptune has application areas within New Zealand's Exclusive Economic Zone 
("EEZ") covering a further approximately 60,000 km(2) of exploration acreage
(Applications for Prospecting Licences ("APPLs") - APPL 39-194 and APPL 39-205).
These tenements were applied for concurrently with PL 39-195 and final
regulatory review of both APPLs is expected to be concluded in 2005.

Management

Peter Vanderspuy - Chairman (64) BSc, MSc

Peter was elected Chairman in June 2005.  Peter has more than 40 years
international experience in exploration and mining.  He was the founding CEO and
Chairman of Delta Gold, one of the leading Australian gold mining companies.
Delta Gold is now part of the Placer Dome Group.  Subsequently, Peter founded
and became CEO of Zimbabwe Platinum Mines Ltd, one of the largest Southern
African platinum companies and now part of the Impala Platinum Group.

Dr Simon McDonald - Managing Director and CEO (43 ) PhD, BSc (Hons)

Simon founded Neptune Resources, the predecessor entity to Neptune Minerals Plc,
in 1999.  He has more than 20 years experience as a minerals and petroleum
exploration geologist. Simon has worked in a number of regions including the
South West Pacific, South East Asia and Africa.  He has also worked as a
resources analyst and in investor relations roles.

Dr John Feenan - Director and Chief Operating Officer (43) PhD, MSc, BSc (Hons)

John has over 20 years international experience in the oil and gas industry.  He
worked in exploration for Amoco, prior to its takeover by BP, and spent over 10
years with Woodside Petroleum Ltd in a range of management positions.  During
this period, his extensive technical and commercial expertise was applied
through a number of high profile projects in partnership with major
international companies such as Shell, BP, Chevron and BHP Billiton.

John Goodwin - Non Executive Director (61)

John has more than 35 years experience in corporate finance and banking.  A
qualified chartered accountant, John has spent 10 years in the corporate finance
advisory sector, first in the City and thereafter in Malaysia and Australia
where he headed the Corporate Finance and Advisory division of Standard
Chartered Bank. Over the last 20 years, John has been Managing Director of UIE
Ltd, a Copenhagen listed company and has held a number of international
directorships within the Group.



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