Petaquilla Minerals Ltd.
OTC Bulletin Board : PTQMF

Petaquilla Minerals Ltd.

October 25, 2007 21:00 ET

Petaquilla Minerals Ltd.: Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2007) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) is pleased to announce that, subject to all applicable regulatory approvals including that of the Toronto Stock Exchange, it has negotiated a non-brokered private placement of 10,000,000 units at a price of $3.00 per unit for gross proceeds in the amount of Canadian $30,000,000.

Each unit will consist of one common share and one-half of one share purchase warrant, where each full warrant entitles the holder to purchase one additional common share of the Company for a period of two years at a price of $3.50 per share.

All securities purchased under the private placement and shares issued on the exercise of any warrants will be subject to a four month plus one day hold period. Finders' fees in the form of cash and warrants will be paid in connection with the private placement.

The proceeds of the private placement will be used to develop and to increase the capacity of the Company's 100% owned Molejon Gold Project in Panama.

About Petaquilla Minerals - Petaquilla Minerals Ltd. is an emerging gold producer scheduled to bring its 100%-owned Molejon Gold Project into production in fiscal year 2008. Anticipated throughput for the project during the first year of production will be 2200 tonnes per day. The plant will utilize three ball mills and a carbon-in-pulp processing facility.

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

Richard Fifer, President and Chief Executive Officer

No stock exchange has approved or disapproved the information contained herein.

Contact Information

  • Petaquilla Minerals Ltd.
    Richard Fifer
    President and Chief Executive Officer
    (604) 694-0021 or Toll Free: 1-877-694-0021
    (604) 694-0063 (FAX)