Kefi Gold Regulatory News (KEFI)

16 October 2013 KEFI Minerals Plc. ("KEFI Minerals" or the "Company") Completion of Placing KEFI Minerals Plc, an AIM-quoted gold and copper exploration company withprojects in the Kingdom of Saudi Arabia, is pleased to announce that it hasraised £500,000 by way of a placing of 22,222,222 ordinary shares at a price of2.25p per ordinary share (the "Placing"). Use of proceeds The funds raised in the Placing will be used to expand the pre-feasibilitystudy on Jibal Qutman which KEFI has already started. The Company's jointventure company, G&M, aims to complete the pre-feasibility study and lodge anapplication for its first Mining Licence by the end of Q4 2013/early Q1 2014. Jeff Rayner, the Managing Director of KEFI Minerals said: "During the past few months we have made rapid progress in Saudi Arabia with afurther upgrade of the JORC Inferred Resource at Jibal Qutman. The additionalfunds raised will assist our efforts to complete the Pre-Feasibility Study,expand the resource base and advance the project towards development." Warrants In connection with the Placing the Company has granted, conditional onAdmission, warrants to Fox-Davies Capital Limited to subscribe for up to1,111,111 Ordinary Shares at 2.25p per share, representing five per cent. ofthe total number of Placing Shares. Such warrants will be exercisable for fiveyears following admission of the Placing Shares. Admission and DTR Application has been made to the London Stock Exchange plc for the PlacingShares to be admitted to trading on AIM and it is expected that Admission willbecome effective and that dealings will commence in the Placing Shares on 21October 2013. Following admission of the Placing Shares to AIM, KEFI Minerals will have521,589,054 Ordinary Shares in issue and this is the figure which should beused as the denominator for the calculations by which they will determine ifthey are required to notify their interest in, or a change to their interest inthe Company under the Disclosure and Transparency Rules. --ENDS-- For further information please contact: KEFI Minerals plc. +90 533 928 19 13Jeffrey Rayner Fox-Davies Capital +44 20 3463 5022Simon Leathers Bishopsgate Communications +44 207 562 3366Nick Rome, Anna Michniewicz