NPM Neptune Min

RNS Number:5540R
Neptune Minerals Plc
21 February 2007



FOR IMMEDIATE RELEASE                                         21 FEBRUARY 2007


                              NEPTUNE MINERALS Plc
                          ("Neptune" or the "Company")



             NEPTUNE MAKES STRATEGIC APPLICATIONS IN JAPAN AND PNG



Japan

Neptune Minerals Plc (NPM.L), the AIM listed explorer and developer of Seafloor
Massive Sulphide ("SMS") deposits, announces that it has lodged 133 Prospecting
Licence Applications, covering 9 areas highly prospective for SMS.  All are
within the territorial waters of Japan, and cover known sulphide mineralisation.

The applications were lodged by wholly-owned subsidiary, Neptune Minerals Japan
Kabushiki Kaisha and made pursuant to the Japan Mining Act.  A location map is
available on the Company's website.

The application areas cover seafloor features extensively researched by Japanese
and foreign institutions, including the Japan Agency for Marine-Earth Science
and Technology (JAMSTEC) and the Japan Oil, Gas and Metals National Corporation
(JOGMEC). This research has outlined numerous SMS deposits including Sunrise,
which has been estimated by Japanese workers to contain SMS accumulations over
an area of 400m x 400m with mound accumulations up to 30m thick.

Okinawa Trough

32 applications totalling 110 km2 were lodged in the Okinawa Trough, a back-arc
basin stretching from Kyushu SW towards Taiwan, covering 3 highly prospective
areas between 150-200 km north and northwest of the island of Okinawa. Included
in Neptune's application areas is the JADE hydrothermal field, where continuing
research since its discovery in 1988 has highlighted extensive occurrences of
SMS mineralization over an area of 1,800m x 600m. Neptune's applications also
cover the Minami-Ensei Knoll and Iheya North areas, both of which contain known
SMS mineralization.

Izu-Bonin Arc

101 applications totalling 348 km2 were lodged in the Izu-Bonin Arc, an island
arc and associated back-arc basin stretching some 1000km southeast of Tokyo
towards the Marianas Islands. Neptune's applications cover 6 highly prospective
areas, including the Hakurei hydrothermal field, discovered by Japanese
researchers in 2003 approximately 500km south-southeast of Tokyo. Subsequent
research has delineated a complex of sulphide mounds and chimneys covering an
area of 700m x 500m, at a water depth of around 900m. Neptune's applications
also cover the Myojin and Myojinsho Knolls, and the Suiyo and Kaikata Seamounts,
all of which contain known SMS mineralization.



Papua New Guinea

Neptune further announces that it has lodged five Exploration Licence
Applications (ELA's) within the territorial waters of Papua New Guinea (PNG).
The applications (ELA 1554 - ELA 1558) covering a total of 12,850 km2, were
lodged by wholly-owned subsidiary Neptune Minerals (PNG) Limited and were made
pursuant to the PNG Mining Act.  A location map is available on the Company's
website.



The applications cover prospective seamounts and other structural features that
surround - and are submerged parts of - the island groups comprising the
Tabar-Feni Arc.  Numerous epithermal gold occurrences are known on these
islands, including the Ladolam Deposit on Lihir Island (43Moz contained gold and
currently producing at 650Koz gold per year) and the 2.4Moz Simberi gold deposit
in the Tabar Island Group where gold production is due to begin in late 2007.

The target is high-grade epithermal gold mineralization similar to that sampled
and drilled by joint British and German research cruises on Conical Seamount
south of Lihir Island, and covered by Neptune's earlier ELA 1425. Previous
research grab-sampling at the summit in 1999 and 2002 recovered distinctive
epithermal-style polymetallic veins with gold grades reaching 231g/t Au,
averaging 25g/t Au from 40 samples.

Research drilling at the summit plateau of Conical Seamount in 2002 (39 holes,
31% average recovery) confirmed the sub-seafloor extent of surface gold
mineralization and associated alteration to depths of at least 4.5m. Drill core
samples of clay-silica alteration contain average gold grades up to 14.2g/t Au
over a length of about 30cm and appear to be part of a more extensive gold zone.

Dr Simon McDonald, Neptune's Chief Executive Officer said:



"Neptune is pleased to have a developed a good working relationship with Japan's
Ministry for Economy, Trade and Industry (METI), the body responsible for
granting and administering mineral exploration licences, and looks forward to
continuing to build on that relationship as our licence applications progress
towards granting through Japan's logical and transparent process. These
applications are an important addition to Neptune's strategic exploration
portfolio."



"We are also pleased to have added prospective acreage to our Tabar-Feni Arc
offshore gold project in PNG. When these licenses are granted the search for
Lihir-style mineralisation, such as that found at Conical Seamount, will form a
significant and unique parallel stream in Neptune's development strategy."



"Furthermore, planning for the Company's Kermadec 07 exploration program in New
Zealand continues and Neptune is on track to have the Geo Subsea vessel "
Geosounder" on charter in March and on station in April 2007."





END



For further information please contact:

Simon McDonald (Neptune MD and CEO):                  info@nepmins.com

John Prior (Corporate Synergy, Nomad and Broker):     T: +44 (0) 20 7448 4400

Nadja Vetter / Sofia Rehman (Cardew Group, PR):       T: +44 (0) 20 7930 0777



The Neptune Minerals Website is www.neptuneminerals.com



Note:

The information in this announcement that relates to geology and drilling
samples, has been prepared and reviewed by Dr Simon McDonald who is a competent
person as described in Part two of the AIM Guidance Notes for Mining and Oil and
Gas Companies.






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

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