Petaquilla Minerals Ltd.
TSX : PTQ
OTC Bulletin Board : PTQMF
FRANKFURT : P7Z

Petaquilla Minerals Ltd.

February 26, 2007 16:30 ET

Petaquilla Announces Drill Results

Confirms Gold and Oxide Copper Mineralization at Botija Abajo, Panama

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 26, 2007) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) today announced the results of the first 11 holes from the second phase of drilling at the Botija Abajo copper gold deposit. Botija Abajo is owned by Minera Petaquilla S.A., and is located 2 kilometers from the Botija porphyry copper deposit and 3 kilometers on strike from the Company's wholly-owned Molejon epithermal gold deposit. Petaquilla Copper Ltd. owns a 52% interest in Minera Petaquilla S.A., and the Company owns 22,189,434 shares (approximately 19%) of the 117,218,905 issued shares of Petaquilla Copper Ltd.

The area is characterized by a sulfide-enriched, granodioritic intrusion that appears to be capped by an extensive oxide zone of copper mineralization. The prior, widely-spaced, drilling program at Botija Abajo intercepted significant amounts of pyrite and chalcopyrite with minor gold indicating the outer zone of a copper-gold porphyry. Recent drilling, however, intercepted significant chalcocite (oxide copper) beneath epithermal gold mineralization.

Trenching early in 2006 was initiated along a north-south aligned array on a much closer scale than the previous drill program. The trenches delineated strong surface gold mineralization in the eastern half of the project area with a distinct extension to the west. Subsequently, the main zone of surface mineralization was targeted for new drilling. Drilling results generally confirm and add significant depth to the mineralization defined via trenching. Material intercepts for gold and copper from the first holes of the current program are shown below.

A map of the project area will be posted on the Company website at www.petaquilla.com.



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Au Au Au Cu Cu Cu
host interval thickness grade grade thickness interval
Hole# rock meters meters g/t % Meters meters
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BA-06-137 GRDI 0-21 21.00 2.15
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GRDI 21-42.05 21.05 1.59 1.89 18.25 22.5-40.75
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BA-06-143 SC 1.19 1.5 11.95-13.45
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BA-06-146 GRDI 3-35.45 32.45 1.70 1.87 11.45 31.5-42.95
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FHPO 38.45-51.35 12.90 1.05 1.78 3.00 45.95-48.95
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BA-06-147 FHPO 30.7-56.4 25.70 0.68 1.43 16.75 35.15-51.9
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BA-06-150 no significant interceptions
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BA-06-152 QV 0-31.6 31.6 2.14 3.58 15.10 16.5-31.6
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BA-06-154 QV 0-40.5 40.50 2.68 2.34 22.50 18-40.5
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BA-06-159 SC 0-14.6 14.60 1.08 3.02 8.10 6.5-14.6
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GRDP 0.93 3.00 58.1-61.1
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BA-06-164 GRDI 15-28.5 13.50 2.43 1.06 18.00 10.5-28.5
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BA-06-179 no significant interceptions
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BA-06-182 no significant interceptions
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SC - Sandy Clay
GRDI - Granodiorite
GRDP - Porphyritic Granodiorite
FHPO - Feldspar Hornblende Porphyry
QV - Quartz Vein and Calcite Stockwork


Compilation of metallurgical data will commence soon at Lakefield Laboratories to ascertain the copper oxide recoverability. Several additional holes are planned for the gold-copper deposit. The Botija Abajo deposit is within easy trucking distance of the Molejon property, where a mill is currently under construction. Metallurgical testing will be necessary to determine process amenability and estimated recoveries.

The Qualified Person, Sean C. Muller, P.Geo. has been overseeing the drilling and trenching programs. He has more than 30 years experience working in the development and oversight of base and precious metals deposits. He is ensuring that the appropriate QA protocols are being followed and that the data are being qualified under strict QC. The goal of this work is to further delineate mineralization and to take the resources to N.I. 43-101 compliance.

On behalf of the Board of Directors of

PETAQUILLA MINERALS LTD.

John Cook, President and Director

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

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