Newmont Mining Corporation invests in Neptune

Neptune Minerals announces that it has agreed to conduct a non-brokered private placement of 7,014,590 ordinary shares at a price of USD 0.71 (GBP 0.36) per ordinary share to Newmont Minerals BV, a wholly-owned subsidiary of Newmont Mining Corporation ("Newmont"). The gross proceeds raised by the issue amount to USD 5million (GBP2.5 million). 

Newmont will acquire a 10.8% holding in Neptune as a result of the placement, the price which represents a 29.7% premium over the weighted average mean price for the previous 60 days.  

In addition to the placement, Neptune has granted to Newmont the right of first refusal to negotiate a majority interest in joint ventures on Neptune projects within New Zealand, Japan and Papua New Guinea. Newmont has agreed a non-competition clause in the Exclusive Economic Zones of those countries.

Newmont has agreed to conduct metallurgical test work on the bulk SMS samples that Neptune intends to collect during the current Kermadec 07 exploration work program. Newmont may also second, at its cost, specialist technical staff to Neptune to assist the Company with geological, engineering and metallurgical studies.

Newmont has been granted a non-dilution right that will enable it to maintain ownership of 10% of the outstanding shares of Neptune, by sunscribing for further ordinary shares as and when and at the price at which any ordinary shares are issued by the Company over a two-year period following the placement. Newmont also has been granted the right to increase its ownership level by subscribing for further ordinary shares, if neccessary, to match that of any subsequent mining company investor, valid also for a two year period.

Application will be made for the 7,014,590 new ordinary shares to be admitted to trading on AIM. Dealings are expected to commence on 21 June 2007. Following the admission of these shares, the number of Ordinary Shares in issue will be 64,679,590.

Dr. Simon Mcdonald, Neptune's Chief Executive Officer, said:

"Neptune is pleased that one of the world's premier mining companies has decided to invest in Neptune. Newmont's investment is an important step in the Company's SMS development strategy. We look forward to growing the excellent relationship we already have in place with Newmont and to bring the Company's SMS deposits into production together.

"The cornerstone investment by Newmont validates the business strategy that Neptune has been following since the Company became the world's first listed SMS explorer in October 2005. Utilising its first-mover advantage in SMS exploration, Neptune has built on the foundation of its initial New Zealand tenements to now control an extensive high quality portfolio of focussed SMS exploration acreage in eight countries. Adding of the wealth of experience that Newmont brings to Neptune, this relationship extablishes the potential to create a powerfull force in SMS exploration and development."

About Neptune

Neptune Minerals is a UK-listed leading explorer and developer of precious- and base-metal seafloor massive sulphide (SMS) deposits on the ocean floor, with granted exploration licences totalling more than 263,000 km² in New Zealand, Papua New Guinea and the Federated States of Micronesia.

Neptune is working throughout June and July 2007 with Geo-Subsea to undertake the Kermadec 07 exploration program. This work involves high resolution seafloor mapping and sampling of SMS targets in Neptune's licences offshore New Zealand. Preliminary results are expected to be released in August 2007.

In addition to granted areas, Neptune has exploration applications covering 37,000km² pending in the territorial waters of Japan, PNG, Vanuatu, Italy and the Marianas.

About Newmont

Founded in 1921 and publicly traded on the NYSE since 1925, Newmont Mining Corporation (www.newmont.com) is the world's second largest gold mining company. With annual gold production of 5.9 million ounces and reported gold reserves of 93.9 million ounces, Newmont is the only gold stock included in the US S&P 500 index.

Headquartered in Denver, Colorado, the company employs approximately 14,000 people, the majority of whom work at Newmont's core operations in the United States, Australia, Peru, Indonesia, Bolivia, NEw Zealand, Mexico and Ghana.

END

For further information please contact:

Simon McDonald (Neptune MD and CEO):                                            This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

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

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