Upgraded JORC Resource

AIM: KEFI 28 November 2013 KEFI Minerals Plc ("KEFI Minerals" or the "Company") UPGRADED JORC RESOURCE EXLORATION UPDATE KEFI Minerals, the AIM-quoted gold and copper exploration anddevelopment company with projects in the Kingdom of Saudi Arabia, is pleasedto announce an updated JORC compliant total Indicated and Inferred Resource of17.7Mt at 0.84g/t Au for 480,000oz Au at its Jibal Qutman prospect. The Company continues its drilling programme at the Jibal QutmanLicence with two Reverse Circulation (RC) and one diamond drill rig andcontinues to expand the mineralised system, which is yet to be closed off.Kefi Minerals is the operator of the project under the Company's 40%-ownedGold & Minerals Joint Venture ("G&M"). HIGHLIGHTS - Approximately 77% of the total resource, by volume has been upgraded to an Indicated Resource category, 13.6Mt at 0.87g/t Au for 383,000 oz Au, and 4Mt is in the Inferred Resource category at 0.74g/t Au for 97,500 oz Au. - The second phase RC drilling programme is on-going with mineralisation remaining open along strike at the South, 3K Hill and 4K Prospects. - A new area of mineralisation has been discovered, called the East Zone and is currently being drill tested. - Prefeasibility studies are underway to accompany a Mining Licence Application planned for Q1 2014. Jeff Rayner, Managing Director of KEFI Minerals, commented: "We are delighted with the rapid success of our explorationprogramme. From licencing in mid-2012 to discovery in late-2012; now anotherresource upgrade whilst we continue steady progress on plans for a MiningLease Application in early 2014. "We are dedicated to continuing our rapid progress towardsdevelopment of the Jibal Qutman resource and we look forward to updating themarket in due course." Jibal Qutman Resource Update At Jibal Qutman an updated resource has been calculated from additional drilland trench sampling results received up to mid November 2013. The data setconsidered is comprised of 56 diamond drill holes, 167 RC drill holes and 225trenches. There were 13,844 drill hole assays and 8,065 trench assays for21,909 assays in total considered. Geostatistics has been performed on eachseparate deposit and top-cuts ranging from 10.5g/t to 25.4g/t Au applied. Drilling has been carried out on 50m x 25m and 50m x 40m spacings to nominally120m depths. Trenches were excavated at 50m and 25m spaced sections. The resource estimate has been confined to maximum depths of 50m to70m below surface. An inverse distance squared block model has been produced inSurpac, supported by basic geo-statistics to fill all of the interpretedorebody solids with grade for an updated JORC Compliant Indicated and Inferredresource estimate: Summary by Resource Category Zone Volume Tonnes Au grams ozs Indicated Main 654,881 1,735,433 0.91 1,578,665 50,755 West 2,284,367 6,053,574 0.84 5,056,475 162,569 South 1,206,993 3,198,534 0.72 2,302,418 74,024 3KHill 994,067 2,634,275 1.13 2,971,040 95,521 Total 5,140,308 13,621,816 0.87 11,908,599 382,870 Inferred Main 485,647 1,286,957 0.72 927,186 29,810 West 377,468 1,000,286 0.75 747,692 24,039 South 224,974 596,178 0.55 326,327 10,492 3KHill 403,848 1,070,196 0.89 947,162 30,452 4K Hill 48,950 129,719 0.65 84,002 2,701 Total 1,540,887 4,083,336 0.74 3,032,369 97,493 Grand Total 6,681,195 17,705,152 0.84 14,940,968 480,363 Ongoing Exploration The second phase RC drill programme continues with one RC drill rigcommitted to infill drilling on 50m x 25m and 50m x 40m grids to upgraderesources to Indicated Category, and one RC rig is performing exploration andstep out drilling at the 4K and East Zone. The third RC rig is off-site being under repair. A diamond drill rig is drilling targeted zones for furthermetallurgical testwork. The best results from the recently drilled RC and diamond drillholes include: hole from to interval grade Zone m mJQRC138 12 19 7 m 1.84 g/t MAINJQRC145 44 52 8 m 1.00 g/t South (northern extension)JQRC153 32 38 6 m 1.16 g/tJQRC153 73 83 10 m 1.88 g/t 3K HillJQRC156 6 11 5 m 1.03 g/t South (northern extension)JQRC158 60 62 2 m 2.23 g/t South ZoneJQRC159 87 89 2 m 1.55 g/t South ZoneJQD051 46 58 12 m 1.37 g/t West ZoneJQD052 72 77 5 m 4.72 g/t West ZoneJQD053 0 40 40 m 1.08 g/t West Zone 85 97 12 m 1.51 g/tJQD054 18 29 11 m 1.85 g/t 3K Hill Others Feasibility study: G&M plans to complete a Pre-Feasibility Study inQ1 2014 and subsequently apply for a Mining Licence for the G&M JV.Feasibility study related works including drilling for mine water supply,environmental, plant and mine infrastructure have been initiated. Enquiries KEFI MineralsJeffrey Rayner +90 533 928 1913 Fox-Davies CapitalSimon Leathers +44 203 463 5010 Bishopsgate CommunicationsNick Rome/Anna Michniewicz +44 20 7562 3395 References in this announcement to exploration results andpotential have been approved for release by Mr. Jeffrey Rayner. Mr Rayner is ageologist and has more than 25 years' relevant experience in the field ofactivity concerned. He is a Member of the Australasian Institute of Mining andMetallurgy (AusIMM) and has consented to the inclusion of the material in theform and context in which it appears. Further information on KEFI Minerals is available at www.kefi-minerals.com KEFI Minerals' Strategic Plan in the Kingdom of Saudi Arabia İn 2009, KEFI Minerals formed the Gold and Minerals Joint Venture("G&M") in Saudi Arabia with local Saudi partner Abdul Rahman Saad Al-Rashid &Sons Company Limited ("ARTAR"), to explore for gold and associated metals inthe Arabian Shield. To date, the G&M has conducted preliminary regionalreconnaissance and lodged 23 Exploration Licence Applications (ELAs), of which4 have been granted. The ELAs were initially applied for and granted to ARTAR.Incorporation of G&M has been completed and any granted Licences will betransferred into G&M in due course. The Kingdom of Saudi Arabia has instituted policies to encourageminerals exploration and development and KEFI Minerals supports this priorityby serving as the technical partner within G&M. ARTAR also serves thisGovernment policy as the major partner in G&M, which is one of the earlymovers in the modern resurgence of the Kingdom's minerals sector. -Ends-