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

Petaquilla Minerals Ltd.

April 16, 2007 19:30 ET

Petaquilla Minerals Ltd. Announces Richard Fifer as New President and CEO

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 16, 2007) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announced today that Richard Fifer, President of Petaquilla Minerals, S.A., has become the Company's President and Chief Executive Officer, replacing interim President John Cook.

John Cook will continue in his role as a director and has been appointed Chairman of the Company's Board of Directors. Mr. Cook, as an Equity Consultant in Sydney, Australia, has over 40 years of experience as an institutional and high net worth adviser specializing in the financing of mining projects.

Richard Fifer is a Panamanian citizen, a former Governor of the Province of Cocle, Panama, and a life-long member of the Petaquilla region in Panama. In addition, Mr. Fifer was formerly President of Corporacion de Desarrollo Minero (Codemin), Panama's state mining company, and the National Security Advisor to the President of the Republic of Panama. Mr. Fifer has a Bachelor of Science in Geological Engineering from the University of Utah and a Masters of Finance from Tulane University.

For more than nineteen years, he has been instrumental in the development of the world-class Petaquilla projects in Panama and in forging the original joint venture alliance with Inmet Mining Corporation and base metal giant Teck Cominco Limited.

In accepting his appointment, Richard Fifer said, "I am pleased to take this next and natural step. I have been intimately involved with the Petaquilla projects since their inception. During this time, we have advanced the projects toward production, we have gained world-class partners, we have improved the living standards of our local communities, and our shareholders have benefited from a ten-fold increase in our market capitalization since 2005. Now, as both the Molejon gold project and the copper project reach pivotal milestones, the Board has asked me to take a more visible role for the Company."

The statements contained in this news release that are not purely historical are forward-looking statements. Forward-looking statements may relate to the success of any of the Company's strategic initiatives, the Company's expectations, beliefs, growth and future prospects, and the Company's position in the market and future opportunities therein. Forward-looking statements may also include, without limitation, any express or implied statement relating to future events, industry performance, general business and economic conditions or circumstances, regulatory and legal requirements, and other matters, many of which are beyond the control of the Company. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. All forward looking statements included in this news release are based upon information available to the Company as of the date hereof and the Company does not undertake any obligations to update forward-looking statements should circumstances or management's beliefs or opinions change.

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

Contact Information

  • Petaquilla Minerals Ltd.
    Richard Fifer
    President and CEO
    (604) 694-0021 or Toll Free: 1-877-694-0021
    (604) 694-0063 (FAX)
    Website: www.petaquilla.com