NPM Neptune Min

RNS Number:3322B
Neptune Minerals Plc
01 August 2007



FOR IMMEDIATE RELEASE                                           01 August, 2007



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

                         UPDATE ON EXPLORATION PROGRAMS



Kermadec 2007

Neptune Minerals Plc (NPM.L) - the AIM listed explorer and developer of Seafloor
Massive Sulphide ("SMS") deposits - announces that it has discovered a new SMS
field, Rumble II, in its 3,800 km2 Kermadec Prospecting Licence, PL39-195.

Preliminary investigation of the SMS mineralisation on the Rumble II seamount
has discovered sulphide "chimneys" standing up to 13m high and 2m across and
many fallen chimney fragments.  There are no previous reports of current
hydrothermal activity and Neptune has also not encountered any such activity.

Equipment failure on the SV Geosounder during sampling of the mineralisation has
delayed further assessment and definition of the SMS zone.  Repairs are ongoing
in the port of Tauranga.  Neptune will return to Rumble II and continue
evaluation of the newly discovered SMS mineralization and its surrounding areas
when repairs are completed.  Preliminary results from Kermadec 2007 are now
expected in September 2007. The delay in the completion Kermadec 2007 will not
result in any additional financial cost to the Company.

Marine biologists from New Zealand's National Institute of Water and Atmospheric
Research (NIWA) (www.niwa.co.nz) are monitoring exploration operations and will
provide an independent baseline environmental impact assessment.



Colville-Monowai 2007

Neptune announces that it has commenced operations on its third New Zealand
exploration program - Colville-Monowai 2007. The specialised fisheries and
survey vessel RV Tangaroa, owned and operated by NIWA, mobilised from the New
Zealand port of Wellington on 28th July 2007.

The four week program will comprise hull-mounted bathymetric (swath) mapping of
multiple areas for prospective SMS mineralization within Neptune's Prospecting
Licences PL39-194 (Monowai, 47,000 km2) and PL39-205 (Colville, 13,000 km2).

Neptune has three New Zealand prospecting licences totalling more than 63,000
km2. The licences are regulated and administered by the Crown Minerals
Department (www.crownminerals.govt.nz/minerals) of the New Zealand Government.



Meteor M73/2

Neptune further announces that it has agreed to participate in a multinational
scientific research program on board the German research vessel RV Meteor.  That
proposed work will include sampling areas covered by Neptune's exploration
licence applications in Italy.

The research program will commence on 14th August and end on 30th August.
Samples will be collected in prospective areas on the Palinuro, Marsili and
Panarea Seamounts utilising the British Geological Survey (BGS) "Rockdrill" and
the German "TV Grab", a remotely operated clam shell device. Neptune personnel
have been invited on board the vessel to assist in the sampling program and
dispatch of samples for assaying.



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

"The discovery of a new area of SMS mineralization, with no evidence of current
hydrothermal activity validates the geological and exploration methodologies
that Neptune has been developing. Our aim is to exploit only inactive SMS
fields, so to discover one so early has been particularly encouraging.

"We have made substantial progress in extending our exploration acreage and
undertaking detailed works programmes since our listing. At the time of our IPO
in October 2005, Neptune had one granted Prospecting Licence in New Zealand and
undertook to perform two exploration programs with the initial IPO funds.

By the end of August, Neptune will have been granted licences in New Zealand,
Papua New Guinea and Micronesia covering a total of 263,000 km2 and will have
completed three exploration programs in New Zealand and one in Italy.  Neptune
has a further 326,000 km2 under application in eight jurisdictions - all of
which underlines our robust pipeline of exploration projects in a broad range of
jurisdictions."



                                      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







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