Petaquilla Minerals Ltd.
OTC Bulletin Board : PTQMF

Petaquilla Minerals Ltd.

April 14, 2011 14:19 ET

Petaquilla Equipment Leasing Facility With Caterpillar

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2011) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announced today that Caterpillar Credito S.A., the Panamanian subsidiary of Caterpillar Financial, has approved an initial US$5 million leasing facility to the Company's subsidiaries, Petaquilla Gold, S.A. ("Petaquilla") and Panama Development of Infrastructure, S.A. ("PDI Panama").

This facility will allow Petaquilla to increase the robustness of its power generation system through the acquisition of a new 2MW Caterpillar Diesel power generator and PDI Panama, the Company's infrastructure subsidiary, to acquire heavy equipment to be used in heap leach operations as well as secondary equipment (e.g. lifters and telehandlers) to operate the warehouses and the heavy equipment shop designed for mechanical maintenance of light and heavy equipment. This equipment will also be used for the removal and sale of the aggregate from the Molejon pit which will open up access to the gold bearing zone lying beneath the aggregate.

The proposed facility is subject to, among other terms and conditions, a 6% fixed annual interest rate over five years with the option to purchase each Caterpillar equipment item at the end of the period with a final payment of US$1.

About Petaquilla Minerals Ltd.

Petaquilla Minerals Ltd. is a gold producer operating its gold processing plant at its 100% owned Molejon Gold Project in Panama. The Molejon mine site is located in the south central area of the Company's 100% owned 842 square kilometre concession lands, a region known historically for gold content.

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

Rodrigo Esquivel, President

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

Contact Information

  • Petaquilla Minerals Ltd.
    Rodrigo Esquivel
    (604) 694-0021 or Toll Free: 1-877-694-0021
    (604) 694-0063