NEPTUNE MINERALS

Neptune Minerals since the AGM has undergone a corporate restructure with board changes.  This streamlining of operations is an effort by the Board to maintain focussed in the ultimate commercialisation of seafloor massive sulphide (SMS) deposits by delivering value to its shareholders, whilst considering the current economic climate.

In our Sydney office we have Christopher Rowe as executive director, Glen Parsons is Chief Financial Officer and Head of Corporate Development, Steve Downey is head of our Geological team and Campbell McKenzie heads up our New Zealand Office.  In addition, Douglas Winton and Adrian Vanderspuy continue to serve as non-executive directors of the Company.  This leaves the Company with a lean but experienced executive team as it moves forward with the exciting next phase of its development.

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 261,146 km2 in the territorial waters of New Zealand, Papua New Guinea, the Federated States of Micronesia and Vanuatu. Neptune has exploration applications covering 350,780 km2 pending in the territorial waters of New Zealand, Japan, Commonwealth of Northern Mariana Islands, Palau and Italy.

SMS are high-grade hydrothermal deposits rich in copper, zinc and lead with a high gold and silver content, found on the ocean floor. This new mining asset class has not been commercially developed anywhere in the world.
Neptune has undertaken three exploration programs over its tenements offshore New Zealand and participated in an international research program over its Italian applications. In 2007, Neptune discovered two new hydrothermally inactive SMS zones in the Kermadec area (New Zealand) over which the company lodged a mining licence application in July 2008