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

Petaquilla Minerals Ltd.

October 13, 2005 09:00 ET

Petaquilla Minerals Ltd.: Warrants Exercised

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2005) - Petaquilla Minerals Ltd. ("the Company") (TSX:PTQ)(OTCBB:PTQMF) is pleased to announce it has added over $2,100,000 to the treasury from the exercise of warrants and options, and from the sale of treasury shares since July 31, 2005.

Proceeds from the exercise of 4,135,642 warrants and options have totaled $1,182,506 since July 31, 2005. The Company also sold 1,116,500 of its own shares on the Toronto Stock Exchange at an average price of $0.87 per share for proceeds of $965,500. These shares were previously issued and reacquired by the Company some years ago pursuant to an issuer bid.

The Company also reports that RAB Capital ("RAB") has purchased 460,000 of the Company's shares on the Toronto Stock Exchange. RAB Capital is a London-based investment management company founded in 1999 and one of the world's leading investors in the junior mining sector. RAB Capital specializes in managing absolute return funds and, as of June 30, 2005, had $2.25 billion in assets under management. RAB currently manages ten hedge fund strategies: Europe, Special Situations, High Yield, UK, Commodity/Energy, Fund of Funds, North American, Japan, Energy and Emerging Europe. RAB also provides advisory and distribution services within the hedge fund industry.

The funds generated by the above will be used for the advancement of the Company's Molejon gold project and for general working capital purposes.

On behalf of the Board of Directors of

PETAQUILLA MINERALS LTD.

Kenneth W. Morgan, CFO and Director

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

Contact Information

  • Petaquilla Minerals Ltd.
    Kenneth W. Morgan
    CFO and Director
    (604) 694-0021
    (604) 694-0063 (FAX)
    www.petaquilla.com