Petaquilla Minerals Ltd.

Petaquilla Minerals Ltd.

March 30, 2005 14:12 ET

Petaquilla Minerals Ltd.: Favorable Trenching Results in the Molejon Northwest Zone


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PETAQUILLA MINERALS LTD.

TSX SYMBOL: PTQ
OTC Bulletin Board SYMBOL: PTQMF

MARCH 30, 2005 - 14:12 ET

Petaquilla Minerals Ltd.: Favorable Trenching Results
in the Molejon Northwest Zone

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2005) - Petaquilla
Minerals Ltd ("PTQ" or the "Company") (TSX:PTQ)(OTCBB:PTQMF) reports on
the on-going trenching program at the epithermal Molejon gold deposit in
north-central Panama.

The current trenching program was initiated to generate a geological
model for the high gold grade intersections encountered in the 1994-95
drill program, at drill hole collars or near-surface in the Northwest
zone. These intersections were difficult to interpret due to low core
recoveries, or their occurrence in sludge samples taken while driving
drill casing.

The Company is pleased to announce that the current trenching program
has exposed contiguous, in situ gold mineralization from within a meter
of the surface in the Northwest zone. The zone is now interpreted as a
gently SW dipping tabular body of quartz breccia and quartz stock work
veining, from 2 to 5 meters thick.

The Northwest Zone is located in a high relief area, and trenching is
exposing the zone along, hillsides and creek beds. Because the zone is a
hard, silicified band, hand trenching is exposing the erosion surface of
the zone. In most cases, the channel - chip samples follow the zone
obliquely along strike or down dip. Assay results from the trenching
suggest good continuity of gold mineralization.



Trench Results

(Sampling is contiguous in the trench unless noted in comments column)
---------------------------------------------------------------------
Composite
Sample Assay Comments
Trench Geology Length Gold
---------------------------------------------------------------------
TR-104 Northwest Zone 23.45 10.16 Trench is cutting the main
Quartz Breccia meters g/t quartz body oblique along
(QZBX) strike. (composite length
excludes a 2.5 meter
section with no sample)
-------------------------------------------------------------
Including 1.20 40.03 High-grade gold
meters g/t mineralization is
--------- ----- controlled by a secondary
2.90 25.09 NE vertical structure.
meters g/t
within the main QZBX body.
---------------------------------------------------------------------
TR-111 Hangingwall 6.00 0.41 Oblique, representing about
Feldspar-Quartz meters g/t 3 meters vertically above
Porphyry (FQPP) the main QZBX body.
-------------------------------------------------------------
QZBX 3.40 4.40 Trench stopped in QZBX -
meters g/t Sample length represents an
estimated 3 meters in true
thickness of the zone as
currently exposed in the
trench.
---------------------------------------------------------------------
TR-112A QZBX 3.10 9.96 Sampling started at the top
meters g/t contact of QZBX and the
composite sample length
represents the true
thickness.
-------------------------------------------------------------
Footwall FQPP 1.00 0.51
meters g/t
---------------------------------------------------------------------
TR-112B Hangingwall FQPP 5.20 4.47 Oblique, representing about
meters g/t 2 meters vertically above
the main QZBX body.
-------------------------------------------------------------
QZBX 44.10 4.36 Trench obliquely cuts the
meters g/t trench down dip, estimated
true thickness is 4.5 meters.
---------------------------------------------------------------------
TR-119A QZBX 3.60 10.71 Sampling started in QZBX,
meters g/t Estimated true thickness
of sample composite is 2.5
meters.
-------------------------------------------------------------
Contact Stockwork 1.80 1.52 Stock work Veining
in FQPO meters g/t in Footwall.
-------------------------------------------------------------
Footwall FQPP and 5.65 0.50
Andesite (ANDS) meters g/t
---------------------------------------------------------------------
TR-119B QZBX 13.80 5.79 Trench is running within
meters g/t the QZBX along dip.
Composite sample length
provides indication of
mineralization continuity.
Top contact of the zone in
this trench has been eroded.
---------------------------------------------------------------------
TR-120 Hangwall FQPO 3.00 0.44
meters g/t
-------------------------------------------------------------
Contact Stock work 4.00 3.19 Trench cuts through the top
in FQPO meters g/t of the QZBX zone but does
not reach the lower contact.
-------------------------------------------------------------
QZBX 29.35 5.44 Trench is running within
meters g/t the QZBX along dip.
Composite sample length
provides indication of
mineralization continuity.
Top contact of the zone has
been eroded in this part of
the trench.
-------------------------------------------------------------
TR-122A Hanging wall 4.60 2.18 TR-122A and B are 2
contact stockwork meters g/t trenches that trend up
in FQPO slope on either side of a
--------------------------------- creek that partially
QZBX 5.00 8.26 dissects the QZBX.
meters g/t Elevation change between
--------------------------------- the lowest sample and top
TR-122B Hanging wall 1.70 9.54 sample on either trench is
contact stockwork meters g/t 3.5 meters.
in FQPO
---------------------------------
QZBX 10.00 17.00
meters g/t
---------------------------------------------------------------------
TR-124 QZBX 7.3 16.93 This cuts the entire QZBX
Meters g/t zone, with a true thickness
--------------------------------- about 3 m.
Footwall ANDS 1.90 0.75
(moderately meters g/t
silicified)
---------------------------------------------------------------------
TR-126 QZBX 2.25 19.18 These are 2 sets of
Meters g/t vertical chip samples
--------- ----- taken along exposed erosion
2.3 35.97 surface of QZBX. Results
meters g/t suggest a secondary NE
structure concentrating the
gold mineralization.
---------------------------------------------------------------------


The trench results clearly indicate that the Northwest zone is a
near-surface mineralized body returning significant gold grades. In
addition the assay results suggest that we have zones of significantly
higher-grade mineralization in the Quartz Breccia zone, and that in
places mineralization extends into the footwall and hanging wall.

These favorable trench results have lead the company to expand the
trenching program within the Northwest Zone and across the deposit's
other zones (Central Zone and Main Zone).

Margaret Venable (PhD Geo.) was the on-site geologist supervising the
trenching and sampling program on the Molejon Deposit. David Nowak,
(P.Geo.), has reviewed the data, and is the Qualified Person under the
definition of Canadian National Instrument 43-101.

Acme Analytical Laboratories, Vancouver performed the preparation and
assaying on the trench samples. Procedures included a 1 assay tonne Gold
Fire assay and multi-element ICP analysis.

On behalf of the Board of Directors of

PETAQUILLA MINERALS LTD.

Kenneth W. Morgan, CFO and Director


-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Petaquilla Minerals Ltd.
    Kenneth W. Morgan
    CFO and Director
    (604) 694-0021
    (604) 694-0063 (FAX)
    www.petaquilla.com
    No stock exchange has approved or disapproved the information contained
    herein.