Petaquilla Minerals Ltd.
OTC Bulletin Board : PTQMF

Petaquilla Minerals Ltd.

November 30, 2009 03:01 ET

Petaquilla Minerals Ltd.: Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2009) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) is pleased to announce that, subject to all applicable regulatory approvals, it has negotiated a non-brokered private placement of 24,000,000 common shares at a price of Canadian $0.50 per share for gross proceeds of Canadian $12,000,000. The proceeds will be used for repayment of debt and completion and development of the Company's 100% owned Molejon gold mine in Panama.

Finders' fees of 5% will be paid in cash in connection with the private placement.

About Petaquilla Minerals Ltd. - Petaquilla Minerals Ltd. is an emerging gold producer commissioning the operation of its gold processing plant at its 100% owned Molejon gold Project. Anticipated throughput for the project during the first year of commercial production is estimated to be 2200 tonnes per day. The plant utilizes three ball mills and a carbon-in-pulp processing facility.

On behalf of the Board of Directors of PETAQUILLA MINERALS LTD.

Joao C. Manuel, President and Chief Executive Officer

Contact Information

  • Petaquilla Minerals Ltd.
    Joao C. Manuel
    President and Chief Executive Officer
    (604) 694-0021 or Toll-free: 1 (877) 694-0021
    (604) 694-0063 (FAX)