NPM Neptune Min

RNS Number:3731T
Neptune Minerals Plc
01 November 2005



FOR IMMEDIATE RELEASE                                           01 NOVEMBER 2005

                 NEPTUNE MINERALS SIGNS AGREEMENTS WITH SEACORE

                               AND CANYON OFFSHORE



Neptune Minerals plc ('Neptune' or 'the Company'), the AIM-listed explorer and
developer of Seafloor Massive Sulphide ("SMS") deposits, is pleased to announce
that it has entered into an agreement with Seacore Limited and Canyon Offshore
to undertake the Company's forthcoming coring program in New Zealand. The
program will focus on targets within the Company's granted prospecting license
(PL 39-195) which is within New Zealand's EEZ. It is anticipated that work will
commence by the end of November 2005.



Under the terms of the agreement Seacore Limited, a specialist marine drilling
contractor, will undertake core sampling of SMS targets, using a drill rig
mounted on the DP Hunter, a dynamically positioned offshore work vessel.  High
resolution seafloor terrain mapping of the targets will be undertaken by Canyon
Offshore, a marine technology and remotely operated vehicle (ROV) specialist in
association with Century Subsea, a specialist marine surveyor.



The prime objective of Neptune's work is to determine the thickness of SMS
deposits which have never before been systematically core sampled.



Dr Simon McDonald, Managing Director and CEO of Neptune, said:

"We are delighted to have concluded this agreement with our contractors and are
excited about undertaking a definition program of coring before the end of the
year."



Neptune was listed on the AIM Market of the London Stock Exchange on 10 October
2005.



                                      END



For further information please contact:



Nadja Vetter / Sofia Rehman, Cardew Group              T: 020 7930 0777

The Neptune Minerals website is www.neptuneminerals.com



Notes to Editors:

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.


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

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