NPM Neptune Min

RNS Number:0872V
Neptune Minerals Plc
18 April 2007





FOR IMMEDIATE RELEASE                                             18 APRIL 2007

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



NEPTUNE AWARDED FOREIGN INVESTMENT PERMIT TO EXPLORE FOR SMS IN FEDERATED STATES
                                 OF MICRONESIA





Neptune Minerals Plc ("Neptune") has been granted a Foreign Investment Permit
(FIP-006-07) by the government of the Federated States of Micronesia (FSM) to
undertake exploration for, and development of, Seafloor Massive Sulphide (SMS)
mineralisation over an area of 200,000 square kilometres within the Exclusive
Economic Zone of the FSM.



Permit FIP-006-07 specifically authorises Neptune to carry out the following
activities within FSM waters:



  * "Co-operate with the FSM Government and international researchers to guide
    the speed and focus research and exploration into SMS deposits;
  * Undertake meaningful commercial exploration leading to definition and
    appraisal of SMS deposits;
  * Investigate alternative mechanisms and techniques of extraction and
    exploitation of SMS deposits;
  * Attract a large joint venture to take equity share in the
    capital-intensive infrastructure and ore movement aspects of the project;
    and
  * Create a consortium to economically mine SMS deposits and market the
    product."



By agreement with the FSM Department of Economic Affairs, Neptune Minerals
(Yap), a wholly owned subsidiary of Neptune, will be the named permit holder and
will limit its area of activities "specifically to the Yap Arc and Yap Back-Arc
structures located north and west of the Yap Island group."



This area of 200,000 km2 is bounded to the east by the Yap Trench and the
Marianas Trench and to the west and north by the boundary of the FSM EEZ.  The
initial Permit is for a four year period commencing April 9, 2007, with possible
extensions for up to 25 years.



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



"Neptune's Permit to explore in the FSM represents a frontier exploration
situation, where publicly available data has been used to make application over
an area where no previous research has been conducted.  The lack of SMS-specific
research is because the Yap Arc is inactive along its length - there are no
active hydrothermal processes.



Neptune considers the Yap Arc to be highly prospective because it shares the
same structure as, and adjoins, the hydrothermally active Marianas Arc where
high grade SMS mineralisation has been reported and sampled from Guam,
immediately adjacent to the north of FSM.  Further north the same tectonic
processes create the SMS deposits reported from the EEZ of the Northern Mariana
Islands (CNMI) and Japan.  Neptune has also lodged applications for exploration
over known SMS mineralisation in the waters of Japan and the CNMI."





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

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



The Neptune Minerals Website is www.neptuneminerals.com







*Blue Oar Securities was formerly Corporate Synergy Plc and acts as Nominated
Adviser & Broker for the Company




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

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