Neptune Minerals

Neptune Minerals completed its Kermadec 07 program and discovered a second inactive SMS zone on the Rumble II West seamount within prospecting licence PL39-195.

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.

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.

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.

Neptune Minerals has signed a contract to charter NIWA's RV Tangaroa for a 30-day survey, the Colville-Monowai 07 program, over two New Zealand licences in July and August 2007.

Newmont Mining's subsidiary agreed to buy 7,014,590 Neptune Minerals shares for USD 5 million, taking a 10.8% stake in the SMS explorer.

Neptune Minerals has started its month-long Kermadec 2007 exploration program offshore New Zealand, mapping and sampling seafloor massive sulphide targets.

Neptune Minerals has been granted four exploration licences covering 326km² in Papua New Guinea's territorial waters near Lihir Island, including Conical Seamount.

Neptune Minerals has been granted a Foreign Investment Permit by the Federated States of Micronesia to explore for seafloor massive sulphide deposits over 200,000 km² of its Exclusive Economic Zone.

Neptune Minerals reported interim results for the six months to 31 December 2006, highlighting new exploration licence applications and a Kermadec '07 exploration agreement.