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

Petaquilla Minerals Ltd.

August 22, 2011 02:00 ET

Petaquilla Minerals Ltd.: Proxy Voting Firms Recommend that Shareholders Vote FOR the Issuance of Shares in Connection with the Acquisition of Iberian Resources Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2011) - Petaquilla Minerals Ltd. ("Petaquilla") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) is pleased to announce that Institutional Shareholder Services ("ISS") and Glass Lewis & Co., LLC ("GL") have recommended that shareholders of Petaquilla vote FOR the issuance of shares in connection with the acquisition of Iberian Resources Corp. ("Iberian") (the "Authorizing Resolution") at the upcoming special meeting to be held at the Fairmont Waterfront Hotel, Nootka Room, 900 Canada Place Way, Vancouver, B.C., Canada, on August 31, 2011, at 10:00 a.m. (Vancouver time).

ISS and GL are leading independent international corporate governance analysis and proxy voting firms. Their recommendations assist shareholders to make decisions regarding proxy voting. In their analysis GL said:

"The acquisition will generate asset and geographic diversification benefits for shareholders through the potential of multiple cash flow streams from future production in two separate regions of the world. In addition, the agreement appears to be fair financially in light of the advisor's derived valuation of Iberian's Lomero-Poyatos project."*

ISS noted that, "The overall dilution proposed is fairly reasonable. Shareholders should benefit by way of the geographical and geopolitical risk diversification."*

"We are pleased that both ISS and GL are recommending that shareholders vote for the Authorizing Resolution. The boards of both companies support Petaquilla's acquisition of Iberian and the shareholders of Iberian have unanimously approved the amalgamation," said Joao Manuel, Chief Executive Officer of Petaquilla. "We look forward to furthering our strategic plan and diversifying the geographic and development risk for shareholders."

Shareholders are reminded to vote their proxy FOR the aquisition before the proxy deadline of Monday, August 29, 2011, at 10:00 a.m (Vancouver Time).

For further information or assistance in voting your shares or to request additional copies of the Meeting Materials, shareholders should contact Kingsdale Shareholder Services Inc. at 1-866-581-0510 or email contactus@kingsdaleshareholder.com.

*Permission to quote from the ISS and GL reports was neither sought nor obtained.

About Petaquilla Minerals Ltd.

Petaquilla 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 Petaquilla's 100% owned 842 square kilometre concession lands, a region known historically for gold content.

Disclaimer. This press release includes forward-looking statements. All statements, other than statements of historical fact, contained in this news release, including, but not limited to, statements regarding the proposed acquisition and future plans of Petaquilla, constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Petaquilla's control that would cause the actual results, performance or achievements of Petaquilla to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements including that the proposed acquisition may not be completed for any reason. Such forward-looking statements are based on numerous assumptions regarding successful completion of the proposed acquisition, Petaquilla's present and future business strategies and the environment in which Petaquilla will operate in the future. Any forward-looking statements speak only as at the date of this document. Petaquilla expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in Petaquilla's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based, except to the extent required by applicable law. As a result of these factors, the events described in the forward-looking statements in this press release may not occur either partially or at all.

On behalf of the Board of Directors of Petaquilla Minerals Ltd.

Richard Fifer, Executive Chairman

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

Contact Information

  • Petaquilla Minerals Ltd.
    Richard Fifer
    Executive Chairman
    (604) 694-0021 or Toll free: 1-877-694-0021
    (604) 694-0063 (FAX)
    www.petaquilla.com