Petaquilla Minerals Ltd.
OTC Bulletin Board : PTQMF

Petaquilla Minerals Ltd.

March 04, 2011 12:17 ET

Petaquilla Minerals Ltd.: Repeal of Amendments to Mineral Resources Code of Panama

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2011) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announces that recent amendments made to the Mineral Resources Code of Panama will likely be repealed when the Panamanian legislature reconvenes in the coming days.

According to government statements, the National Assembly will be formally requested to revoke Law No. 8 of February 11, 2011, which amended the Mineral Resources Code of 1963, in its entirety. The primary focus of the Law No. 8 amendments was to allow foreign sovereign funds to invest in Panamanian resources.

The Company announces that the proposed revocation of Law No. 8 will, in no way shape or form, reflect negatively upon the operations of the Company.

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.

Joao C. Manuel, Chief Executive Officer

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

Contact Information

  • Petaquilla Minerals Ltd.
    Joao C. Manuel
    Chief Executive Officer
    (604) 694-0021 or Toll free: 1-877-694-0021
    (604) 694-0063 (FAX)