Conversion of Loan Notes and Warrants

14 June 2010

PATHFINDER MINERALS PLC

('Pathfinder' or 'the Company')

ALLOTMENT OF NEW ORDINARY SHARES

The Company has today issued and allotted 6,933,333 new ordinary shares of 1p each to various parties that have exercised their conversion rights in respect of £104,000 of convertible loans; and 5,000,000 new ordinary shares of 1p each to warrant holders that have exercised their rights to subscribe for these shares for £75,000. Following admission of these new shares, the number of Pathfinder's ordinary shares of 1p each in issue will be 46,730,472.

Application has been made for these new ordinary shares, which, when issued, will rank pari passu with the existing ordinary shares in issue, to be admitted to trading on AiM. Admission is expected to be on 18 June 2010.

On completion of the above issues the following shareholders will have interests exceeding 3% of the issued share capital of Pathfinder:

Shareholder No. of Percentage

shares interest

Sebou Oil Services Limited 6,666,667 14.27%

Mark Pearson 6,666,666 14.27%

Swandale Limited 3,333,333 7.13%

Hornbuckle Mitchell Trustees Limited and Nicholas Trew

as Trustees of the Private Pension Plan of Nicholas Trew 3,333,333 7.13%

Christopher Simpson 3,000,000 6.42%

Hill Street Investments Plc 2,333,333 4.99%

Hornbuckle Mitchell Trustees Limited and Timothy Baldwin

as Trustees of the Private Pension of Timothy Baldwin 2,333,333 4.99%

Nicholas Monson, when aggregated with

the holding of Colston Trustees and Nicholas Monson

as trustees of the Curtis Banks' SIPP for Nicholas Monson 1,600,000 3.42%

For further information please call:

Nicholas Trew Pathfinder Minerals Plc 020 7834 0321

Oliver Rigby Daniel Stewart & Company 020 7776 6581