NPM Neptune Min

RNS Number:8576F
Neptune Minerals Plc
17 October 2007


FOR IMMEDIATE RELEASE                                           17 October, 2007

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

          ISSUE OF OPTIONS UNDER THE NEPTUNE EXECUTIVE INCENTIVE PLAN

Pursuant to the Company's Executive and Non Executive Incentive Plan and as a
component of employees' remuneration packages, Neptune today issued the
following options to staff and directors.

No of Options      Exercise price per    First Exercise date    Expiry date
                   ordinary share
3,719,222          35 pence              17 October 2008        17 October 2012


Included in the above options are options to directors, issued as follows:

                              Exercise price 
                    No of     per ordinary    First 
Director            Options   share           Exercise date     Expiry date
                             
Simon McDonald      700,000   35 pence        17 October 2008   17 October 2012
John Feenan         609,000   35 pence        17 October 2008   17 October 2012
Peter Vanderspuy    166,667   35 pence        17 October 2008   17 October 2012
John Goodwin        138,889   35 pence        17 October 2008   17 October 2012

In addition to the price and duration conditions above the options will be
subject to the following conditions:

  * Options will be forfeited on the termination of employment, unless the
    remuneration committee or Board (in the case of employees) exercises their
    discretion to allow them to vest.

  * In the event of a change of control, merger or scheme of arrangement or
    voluntary winding up the options will vest and may be exercised.

As a consequence of the issue of options referred to above, the Company now has
the following options on issue:


No of Options    Exercise price per    First Exercise date    Expiry date
                 ordinary share

2,883,250        25 pence              10 October 2006        10 October 2010
3,719,222        35 pence              17 October 2008        17 October 2012


Total number of options on issue is 6,602,472.


                                      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: +61 (0) 8 6430 1631
Sofia Rehman (Cardew Group, PR):                         T: +44 (0) 20 7930 0777

The Neptune Minerals Website is www.neptuneminerals.com


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