Poseidon

Update on exploration programs

Neptune Minerals has discovered a new seafloor massive sulphide field, Rumble II, in its Kermadec Prospecting Licence and started its Colville-Monowai exploration program in New Zealand.

Issue of equity

Neptune Minerals issued 192,473 new ordinary shares to Alchemy Securities Pty Ltd in lieu of advisory fees related to Newmont Minerals BV's investment, bringing total shares in issue to 64,872,063.

Notification of interest

The Company received three notifications of major shareholder interests in March and April 2007, disclosing indirect and direct voting rights held by Invesco, New Smith Asset Management and RAB Special Situations.

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