First New Zealand Offshore Mining Licence Lodged

    First New Zealand Offshore Mining Licence Lodged
             



FOR IMMEDIATE RELEASE

            22 July 2008

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

          FIRST NEW ZEALAND OFFSHORE MINING LICENCE LODGED


  * Rumble II West Mining Licence Application lodged
  * Prequalification proposals for Seafloor Mining Contract have been
    received



Neptune Minerals  (AIM: NPM),  a leading  explorer and  developer  of
seafloor massive sulphide (SMS) deposits is pleased to announce  that
it has lodged its first Mining Licence Application over the Rumble II
West Seamount  within  the  Exclusive  Economic  Zone  (EEZ)  of  New
Zealand.  The application covers two hydrothermally inactive seafloor
massive sulphide ("SMS") deposits on the Rumble II West seamount that
were discovered  in August  last year.  The lodgement  of the  Mining
Licence Application  represents  a  key milestone  in  the  Company's
progress towards commercialisation and pilot mining by 2010.

Neptune has successfully received prequalification proposals for  its
first Seafloor Mining Contract.   Leading international dredging  and
subsea engineering companies were invited to undertake a Build,  Own,
Operate contract  mining system  for  the commercial  development  of
Neptune's SMS  deposits offshore  New Zealand.  Neptune is  currently
evaluating these  proposals and  upon conclusion  of this  process  a
decision will  be  made  as  to the  award  of  the  Seafloor  Mining
Contract.

Neptune's Chief Executive Officer Dr Simon McDonald said:
"The lodging of this first mining licence application is an  historic
achievement for the Company as  well as the offshore mining  industry
as  it  represents   a  significant  step   towards  the   commercial
development of SMS resources.  There is substantial work required  to
achieve our goal  of pilot  mining by  the end  of 2010,  but we  are
confident in  our  approach  and our  ability  to  deliver.   Neptune
acknowledges  that  there  will   be  concerns  about   environmental
management, however we are committed to environmental stewardship  of
the  marine  environment  and  transparent  communications  with  all
stakeholders. Neptune  looks  forward  to a  continued  positive  and
cooperative working  relationship  with  the  New  Zealand  regulator
during the mining licence application process."

END

For further information please contact:


Simon McDonald (Neptune MD and CEO):          T: +61 (0) 2 9957 5244
By email to the Company                       info@nepmins.com

Richard Hail  (Fox  Davies  Capital  Limited, T: +44 (0) 20 7936 5230
Broker):

Fiona Owen (Grant Thornton UK LLP, Nomad):    T: +44 (0) 20 7383 5100

Rozanne Ichikowitz (Grant Thornton, Sydney):  T: +61 (0) 2 8297 2522

Nadja Vetter/Sofia Rehman/Matthew Law (Cardew T: +44 (0) 20 7930 0777
Group, PR):                                   T: +44 (0) 7941 340 436


The Neptune Minerals Website is www.neptuneminerals.com

About Neptune
Neptune Minerals is a leading explorer and developer of precious- and
base-metal seafloor massive sulphide (SMS) deposits, with granted
exploration licences totalling more than 278,000 km2 in the
territorial waters of New Zealand, Papua New Guinea, the Federated
States of Micronesia and Vanuatu. Neptune has exploration
applications covering 436,000 km2 pending in the territorial waters
of New Zealand, Japan, Commonwealth of Northern Mariana Islands,
Palau and Italy.

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