Neptune Minerals announces that is has commenced operations on its second New Zealand exploration program - Kermadec 2007. The specialised deepwater goetechnical survey vessel SV Geosounder, equipped with a Remotely Operated Vehicle ("ROV") rated to 3,000m water depth, mobilised from New Zealand port Tauranga on 30th May 2007.

The vessel and ROV are owned and operated by Geo Subsea Pty Ltd, part of the Geo ASA Group based in Bergen, Norway (www.geoasa.no). Geo ASA is a worldwide marine specialist with offshore survey, maintenance, construction and deepwater subsea engineering operations.

The month-long program will comprise extensive, high resolution acoustic and geophysical mapping of multiple SMS targets within Neptune's 3,800 km² Prospecting Licence 39-195. SMS mineralisation will be systematically sampled by the ROV using various recovery techniques and will include the collection of bulk samples of SMS sediment of up to several hundred kilograms per sample. Preliminary results are expected in July 2007.

Marine biologists from New Zealand's National Institute of Water and Atmosperic Research (NIWA) (www.niwa.co.nz) will monitor the sampling operations and provide an independent baseline enviromental impact assessment.

Neptune has three New Zealand prospecting licences totalling more than 60,000 km². The licences are regulated and administered by the Crown Mineral's Department (www.crownminerals.qovt.nz/minerals) of the New Zealand Government.

Neptune's Chief Executive Officer, Dr Simon McDonald, said:

"Kermadec 07 is the second of two exploration programs that Neptune undertook to perform with funds raised at IPO in October 2005. Planning this program and obtaining a suitable vessel has taken longer than anticipated, due to ongoing bottlenecks in chartering suitable vessels. Completion of Kermadec 07 will be a significant milestone in defining the SMS mineralisation model and maturing Neptune's New Zealand SMS acreage. One objective of Kermadec 07 is the assessment of SMS deposits to a level that will permit Mining Licence applications to be lodged. Kermadec 07 should be a major step in adding sinificant value to the Company."

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 Reham (Cardew Group, PR):                                  T: +44(0) 20 7930 0777

 Download PDF File