Confirmation of Equity Placing

KEFI Minerals plc ("KEFI" or the "Company") CONFIRMATION OF EQUITY PLACING Further to the announcement of 8 October 2010, in which the Company confirmed it had conditionally raised £625,000 (before expenses) by way of a placing by Optiva Securities Limited ("Optiva"), WH Ireland Limited ("WH Ireland") and WHI Stockbrokers Limited of 50 million new ordinary shares of 1p each ("Placing Shares") at 1.25p per share ("the Placing"), the Company can confirm that all conditions, save for admission of the Placing Shares to trading on AIM ("Admission") have now been satisfied. As set out in the announcement of 8 October 2010, application has been made for Admission of the Placing Shares and dealings in the Placing Shares are now expected to commence on 20 October 2010. Following the issue of the Placing Shares the total number of shares in issue in the Company will be 331,316,350 ordinary shares of 1p each ("Ordinary Shares"). For further information contact: Jeffrey Rayner, KEFI Minerals plc Tel: +90 533 928 1913 Katy Mitchell, W.H. Ireland Ltd. Tel: +44 (0)161 832 6644 Philip Davies, Fox-Davies Capital Tel: +44 (0)203 463 5010 Jason Robertson, Optiva Securities Limited Tel: +44 (0)203 137 1906 Jeremy King, Optiva Securities Limited Tel: +44 (0)203 137 1904 Michael Kinirons, Bishopsgate Communications Tel: +44 (0)20 7562 3395