Exploration program update

RNS Number:8316C
Neptune Minerals Plc
28 August 2007



FOR IMMEDIATE RELEASE
        28 August, 2007



                              NEPTUNE MINERALS PLC

                          ("Neptune" or the "Company")



                       NEPTUNE DISCOVERS SECOND SMS ZONE



Kermadec 07

Neptune Minerals Plc (NPM.L) announces that the Kermadec 07 exploration program
has been completed and that it has discovered a second inactive SMS zone on the
Rumble II West seamount in the Company's prospecting licence PL39-195. Neptune
intends to lodge its first Mining Licence Application (MLA) to the New Zealand
Government over these inactive SMS zones.

The newly discovered SMS zone is located several hundred metres south of the
previously announced SMS discovery on Rumble II West. Geophysical and video
seafloor mapping activities defined a zone of relict sulphide "chimneys" up to
4m high with no indications of hydrothermal activity and with biota commonly
found on rocky seafloors at similar depths.

Significant samples could not be gathered from the Rumble II West SMS zones due
to mechanical difficulties, which were unable to be rectified within the bounds
of the program. Kermadec 07 has been completed within budget despite significant
delays due to extreme weather conditions which undermined equipment performance
levels.

Marine biologists from New Zealand's National Institute of Water and Atmospheric
Research (NIWA) (www.niwa.co.nz) monitored the exploration operations and will
provide an independent report on baseline environmental conditions and likely
impact assessment of exploration activities.

Colville-Monowai 07

Neptune also announces that operations on Colville-Monowai 07 are progressing as
planned. More than 20,000 km2 of ship-mounted multi-beam bathymetry ("swath")
mapping has been completed over Neptune's prospecting licence PL39-194
(Monowai). The specialised survey vessel RV Tangaroa, owned and operated by
NIWA, is currently acquiring swath data over Neptune's PL39-205 (Colville).
Colville-Monowai 07 will conclude on August 28 with the return to port of the RV
Tangaroa.

Future Exploration - Project Trident

Neptune has entered into negotiations with prominent marine survey contractors
who have expressed interest in tendering for Neptune's future exploration
program, to be known as "Project Trident". It is intended, subject to securing
the funding, that Trident will involve the chartering of a suitable exploration
vessel equipped with specialised mapping and sampling tools to conduct
continuous exploration for an initial 2-year period.

Trident will be focused initially on Neptune's New Zealand tenements, conducting
detailed follow up on the numerous targets outlined during the Kermadec 2007 and
Colville-Monowai 2007 exploration programs, with operations scheduled to
commence in 2008.



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

"We are delighted to have located and defined, during Kermadec 07, inactive SMS
zones which will form the basis for Neptune's first MLA in New Zealand.  This is
a significant step forward for Neptune to meet its goal of commercial SMS
production.

"Neptune is pleased with the relationship that developed with Geosubsea (now DOF
Subsea) throughout Kermadec 07 and I commend the Geosubsea and Neptune staff who
undertook the program.  It is regretted that Kermadec 07 was delayed and
equipment performance was hampered by weather conditions which limited the
envisaged sampling program.

"The preliminary swath images from Colville-Monowai 07 show that there are
numerous previously unknown SMS targets which will need to be defined in further
work.  The prospectivity of Neptune's Monowai and Colville areas has been
tremendously enhanced by the program.

"The rationale for Project Trident is to establish an exploration vessel in New
Zealand waters for an extended program: this will significantly limit the impact
of problems associated with short-term "spot charters" and will allow an
intensive and ongoing exploration effort to be maintained and will accelerate
the process of identifying and defining SMS areas in which to make Mining
Licence Applications."



                                      END



For further information please contact:


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

Olly Cairns (Blue Oar Securities Plc, Nomad and Broker): T: +44 (0) 20 7448 4400

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


The Neptune Minerals Website is www.neptuneminerals.com



The information in this announcement that relates to SMS discoveries has been
compiled and reviewed by Dr Simon McDonald PhD, BSc (Hons), the managing
director and CEO of the Company, who has sufficient experience to qualify as a
Competent Person under the AIM Rules.




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

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