NPM Neptune Min

    Letter of Intent
             



                        FOR IMMEDIATE RELEASE
                                                                  17
                             March 2008


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

             NEPTUNE SIGNS L.O.I. WITH C&C TECHNOLOGIES


Neptune Minerals Plc (NPM.L), the  AIM listed explorer and  developer
of Seafloor Massive Sulphide ("SMS") deposits, has signed a letter of
Intent (L.O.I.)  with  C&C  Technologies,  through  its  Asia-Pacific
operation based in Singapore. C&C Technologies is one of the  world's
leading marine  survey companies,  for  the provision  of  autonomous
underwater  vehicle  (AUV)  survey,   sampling  and  vessel   charter
services.

The L.O.I. commits both parties to contract negotiations and project
preparations towards Project Trident - a long-term exploration
program focused on Neptune's exploration tenements in New Zealand's
Exclusive Economic Zone (EEZ).  Subject to vessel and equipment
availabilities, AUV survey and sampling operations are planned to
commence in mid-2008 with continuous operations for a minimum
12-month period, with options to extend to 24 months and beyond.

Neptune's Chief Executive Officer Dr Simon McDonald said:
"We are  very  pleased  to  sign this  L.O.I.  and  progress  Project
Trident,  the  undertaking  of  which  will  allow  the  Company   to
significantly ramp up its exploration  activities in New Zealand.   A
dedicated survey vessel will  allow Neptune to  define the SMS  zones
identified during Kermadec  07 and systematically  locate and  define
SMS deposits which will then have Mining Licence Applications  placed
over them."

C&C Technologies Asia-Pacific Survey Division Manager, Mr Gad Habiby,
expressed C&C's pleasure at being  selected for the program. He  said
"C&C looks forward  to working  closely with Neptune  on the  Trident
exploration project  and,  while  carrying out  the  AUV  survey  and
sampling  program,  to  introducing  appropriate  new  technology  to
maximise the value of the data set gathered."

In support of Project Trident and  to create a strong foundation  for
future operations in New Zealand, Neptune has added to its management
team  with  the  employment  of  two  senior  staff,  Mr  Peter  Wong
(Contracts &  Procurement  Manager)  and Mr  Campbell  McKenzie  (New
Zealand Country Manager).

Mr Wong has 20 years' experience in the fields of supply and contract
management, procurement,  outsourcing  and  engineering  construction
cost management. In the last 15 years,  he has worked in the oil  and
gas industry in the United  Arab Emirates, Yemen, Egypt, Brunei,  PNG
and Russia. He has successfully executed and managed the contracting,
procurement and supply chain management for both onshore and offshore
drilling and construction projects for Oil and Gas companies.

Mr McKenzie has 12 years' experience in the minerals industry in  the
private and  public  sectors.  He  was most  recently  at  the  Crown
Minerals Group  of  the  Ministry  of  Economic  Development  of  New
Zealand.  In   this   role   he   assessed   technically   and   made
recommendations to the  Minister of  Energy on  all applications  for
prospecting and  mining licences.  Campbell previously  worked as  an
exploration geologist with several Australian-based companies.


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, Broker):             T: +44
(0) 20 7936 5200

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

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

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

T: +44 (0) 7941 340 436

Gad       Habiby        (C&C       Technologies        Asia-Pacific):
                             T: +65 6295 9738

By           email           to           C&C            Technologies
Asia-Pacific
gad.habiby@cctechnol.com.sg


The Neptune Minerals Website is www.neptuneminerals.com



About C&C Technologies
C&C Technologies is  the commercial  leader in  the use  of AUVs  for
marine survey  operations.  Last  year, the  company  documented  its
100,000th  km  surveyed  by  AUVs,  a  milestone  crossed  while  the
C-Surveyor III was working for Shell in the Gulf of Mexico.
C & C Technologies' AUV services division began operations in January
2001.  To date, its AUVs  have serviced 56 clients, on 207  projects,
in the offshore waters of 12  different countries.  C&C is  committed
to the highest  standards of safety  and quality, while  continuously
adding value for its clients, through the integration and development
of new  technology  in the  fields  of Global  GPS  Positioning,  AUV
Services, Geophysical Surveys and Marine Construction Survey Support.

Further information and regional contact details can be found at:
www.cctechnol.com


About Neptune Minerals Limited
Neptune has 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, and a further 434,000
km2 of exploration applications pending in the territorial waters  of
New Zealand, Japan, Commonwealth  of Northern Mariana Islands,  Palau
and Italy. In the past 12 months, the Company's tenement acreage  has
increased by 650%.
The Company  recently  completed  its second  and  third  exploration
programs, Kermadec 07 and Colville-Monowai 07, offshore New  Zealand.
During  Kermadec  07,  Neptune  discovered  two  new   hydrothermally
inactive SMS zones  over which the  Company plans to  lodge a  mining
licence application.

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