Neptune Minerals is pleased to announce its results for the six months ended 31 December 2006.

Highlights:

• Letter of Intent signed to commence Neptune's second exploration programme (Kermadec '07) in New Zealand
• Management team strengthened with appointments of new Exploration Manager and Finance Manager
• Six applications for exploration licences lodged in Papua New Guinea EEZ ('Exclusive Economic Zone')
  

Post reporting period highlights:

• Agreement signed with Geo Subsea for Kermadec '07 exploration programme
• 133 applications lodged within Japan EEZ waters
• 5 applications for exploration licences lodged in Papua New Guinea EEZ 
   

Dr Simon McDonald, CEO of Neptune Minerals, said:

"During the last six months we have focused on the development work for the next phase of exploration and on adding new SMS applications to Neptune's portfolio. We have successfully submitted a number of applications for the exploration licences and have reached agreement with GEO Subsea for the second phase of the Kermadec exploration programme. We are pleased with the progress achieved and look forward to commencing the Kermadec '07 exploration program in April."

END

For further information please contact:

Neptune Minerals                                                       This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Simon McDonald, CEO

Corporate Synergy,                                                   T:+44(0)20 7448 4400
Jerry Keen
Oliver Cairns

Cardew Group, PR                                                     T:+44(0)20 7930 0777
Nadja Vetter                                                                 M:+44(0)7941 340 436
Sofia Rehman                                                             M:+44(0)7771 683 185

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