Maghreb Minerals exploration in Hoggar region

[Al-khiyal]

LONDON (AFX) - Maghreb Minerals PLC said it has made excellent progress in both Tunisia and Algeria towards defining resources and developing new opportunities.

In a statement at today's AGM, chairman Gordon Riddler said that although the group has relinquished four permits in Tunisia, it has also renewed four and has added a further five and is actively negotiating two highly prospective ones.

In Algeria the group is looking to add further permits to the one covering Tan Chaffao.

The work being carried out is aimed at a move from exploration to development, with the goal of creating significant value for shareholders, Riddler said.

"We have the cash resources in hand to continue to fund the necessary work and the team and projects in place that enable us to deliver," he added.

Maghreb Minerals says excellent progress being made in both Tunisia, Algeria

[Al-khiyal]

LONDON (AFX) - Maghreb Minerals PLC said results from five drill holes on the Tan Chaffao permit in the Hoggar region of southern Algeria were below expectations, leading the company to reduce its activities in the country and focus on short-term opportunities in Tunisia.

'Given that the group has incurred expenditure in excess of 500,000 stg since it commenced operations in Algeria without the anticipated results, the board has decided to reduce its activities but continue to monitor potential opportunities that may arise,' it said.

The AIM-listed company announced the findings along with its interim results. Pretax losses for the six months to end December moved to 701,000 stg, in line with expectations, from 476,000 stg on higher exploration costs in Algeria.

The company has no revenue and ended the period with 838,000 stg of cash reserves.

Maghreb said it is in very early talks with a number of parties who have expressed an interest in helping to exploit the different mining concessions and exploration permits held by the group.

Maghreb Minerals says Hoggar drilling results in Algeria below expectations

[Al-khiyal]

WINDHOEK (Mineweb.com) --There have been many disappointments for AIM-quoted Maghreb Minerals plc in Algeria, such that the junior exploration company has had to scale down its activities in the North African state and concentrate on short term opportunities in Tunisia. They will however still monitor for openings that may arise in the country.

The company’s interim results for the six months ending 31 December 2006 show pre-tax losses of £701,000, up from £476,000, due to higher exploration costs in Algeria.

Executive Chairman Gordon Riddler cited Maghreb’s failure to secure the exploration permits for Bouk Dema (lead, zinc) and In Ekker (gold), as the first disappointment.

He said that, after the company had been invited to submit bids for the permit by the energy and mines ministry, goalposts were later shifted on dates of submission and bond arrangements, resulting in Maghreb’s “winning bid” for Bouk Dema being “rejected in favour of an alternative bid”.

“Our unsuccessful bid for the In Ekker permit reflected the removal of the most promising gold target from the area originally offered by the ministry. This was a disappointing outcome considering that the group has demonstrated its ability to deliver exploration programmes in difficult working conditions in the country,” said Riddler.

The company’s drilling programme on its Tan Chaffao permit in the Hoggar region of southern Algeria also proved a disappointment. Five holes were drilled at a depth of 823 metres, with results beyond the company’s expectations, although gravity survey data combined with soil geochemistry had identified some gravity highs with coincident elevated copper and gold in soils.

“Given that the Group has incurred expenditure in excess of £500,000 since it commenced operations in Algeria without the anticipated results, the Board has decided to reduce its activities but continue to monitor potential opportunities that may arise,” Riddler said...

Maghreb scales down activities in Algeria after disappointing events

[Al-khiyal]

August 31, 2007 -- Maghreb Minerals Plc, the AIM-listed exploration company developing base and industrial mineral deposits in North Africa, announces its results for the year ended 30 June 2007.

HIGHLIGHTS

• Agreements signed with the Office National des Mines ("O.N.M."), to acquire the exploration permits covering the former mining concessions on the past producing lead-zinc mines of Bou Jabeur, including the Gite de l'Est mine, and Fej Lahdoum.

• Drill programmes accelerated with three drilling rigs now operating on deposit evaluation and quantification.

• The drilling results to date at Bou Jabeur (Gite de l'Est) confirm and verify the previous O.N.M. drilling results. The in-situ value of the deposit is estimated to be in excess of US$1 billion, based on current prices.

• Drilling at the Zaghouan (Zriba-Guebli) mine has verified the presence of substantial good quality fluorite mineralisation.

• In June and July 2007, the Group raised approximately £2.8 million in cash.

Gordon Riddler, Executive Chairman, Maghreb Minerals commented:

"We have verified the existence of substantial resources at Bou Jabeur, Fej Lahdoum and Zaghouan. These plus the site at Djebba offer the potential to re-establish mining operations in the medium term. We now have the funding and the management in place to allow us to fully evaluate the deposits and to bring the projects to pre-feasibility stage. The aim is to move towards the compilation of JORC compliant resource statements in the near term followed by the resumption of mining operations as soon as possible."

.....In Algeria, Maghreb completed its initial work programme on its Tan Chaffao permit in the Hoggar region, with lower than anticipated results with respect to assays reported from previous drilling undertaken by the Office National Reserche Geologique et Miniere ("O.R.G.M."). The Group was unsuccessful in its bids for exploration permits, including Bouk Dema (lead, zinc) and In Ekker (gold) for reasons beyond its control. Given the high level of expenditure incurred and disappointing results, Maghreb has decided to reduce its activities in Algeria to one of monitoring potential opportunities that may arise provided, of course, that the commercial and operating environment becomes more conducive for junior mining exploration companies.....

ENQUIRIES:

Maghreb Minerals Plc

Gordon Riddler, Executive Chairman

Tel: 020 7556 7038

Maghreb Minerals - Final results