Amendment to Option Agreements

AIM: KEFI19th December 2012 KEFI Minerals Plc ("KEFI Minerals" or the "Company") AMENDMENT TO OPTION AGREEMENTS

KEFI Minerals, the AIM-quoted gold and copper exploration company with projectsin the Kingdom of Saudi Arabia, today announces that certain option agreements(relating to options over Ordinary Shares granted to Directors), dated 18December 2006 ("Option Agreements"), have been amended. The option exerciseprice has been revised upwards from 3p per share to 4p per share, the expirydate extended until 18 December 2014 and the number of options increased froman aggregate of 12 million to 14 million as set out in the table below. Noother changes have been made to the Option Agreements.

The following Directors are parties to the amended Option Agreements and havehad the number of options granted to them pursuant to such Option Agreementsincreased as set out below:Name Position Increase in the number of ordinary Shares subject to Option (`000) Harry Anagnostaras-Adams Chairman From 4,000,000 to 4,500,000 Ian Plimer Non-executive Director From 2,000,000 to 2,417,000 Jeff Rayner Managing Director From 5,000,000 to 5,833,000 John Leach Finance Director From 1,000,000 to 1,250,000 Total From 12,000,000 to 14,000,000 -Ends- Enquiries:KEFI MineralsJeffrey Rayner +90 533 928 1913Fox-Davies CapitalSimon Leathers +44 203 463 5010Bishopsgate CommunicationsNick Rome +44 20 7562 3395

Further information on KEFI Minerals is available at www.kefi-minerals.com

KEFI Minerals PlcDoğu Akdeniz MineralleriSan. Tic. Ltd. Şti.Cemal Gürsel Cad.Yalı Apt. No:304K:4 D:9 Karşıyaka İZMİRTel: +90 232 381 9431Fax: +90 232 381 9071Email: [email protected]