KEFI MINERALS PLC - Amendment to Option Agreements

AIM: KEFI

19th 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 projects in the Kingdom of Saudi Arabia, today announces that certain option agreements (relating to options over Ordinary Shares granted to Directors), dated 18 December 2006 ("Option Agreements"), have been amended. The option exercise price has been revised upwards from 3p per share to 4p per share, the expiry date extended until 18 December 2014 and the number of options increased from an aggregate of 12 million to 14 million as set out in the table below. No other changes have been made to the Option Agreements.

The following Directors are parties to the amended Option Agreements and have
had the number of options granted to them pursuant to such Option Agreements
increased 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 Minerals
Jeffrey Rayner +90 533 928 1913

Fox-Davies Capital
Simon Leathers +44 203 463 5010

Bishopsgate Communications
Nick Rome +44 20 7562 3395

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

KEFI Minerals Plc

Doğu Akdeniz Mineralleri
San. Tic. Ltd. Şti.
Cemal Gürsel Cad.
Yalı Apt. No:304
K:4 D:9 Karşıyaka İZMİR

Tel: +90 232 381 9431
Fax: +90 232 381 9071
Email: jnfo@kefi-minerals.com