Petaquilla Minerals Ltd.

Petaquilla Minerals Ltd.

March 04, 2005 15:24 ET

Petaquilla Pleased with Initial Trenching Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PETAQUILLA MINERALS LTD.

TSX SYMBOL: PTQ
OTC Bulletin Board SYMBOL: PTQMF

MARCH 4, 2005 - 15:24 ET

Petaquilla Pleased with Initial Trenching Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 4, 2005) - Petaquilla
Minerals Ltd. (TSX:PTQ)(OTCBB:PTQMF) advises that the first assay
results have been received from the 2005 trenching program on Petaquilla
Mineral's Molejon Gold deposit.

The results come from the initial test trenches on the Molejon
"Northwest Zone". Surface drilling in 1990's indicated a near surface
gold resource. Up to now, the zone has not been tested with trenches.

Notable assay results include:



Trench 103

Located at 973054 North, 538481 East, the trench exposed a silicified
zone with channel-chip sampling returning an average grade of 2.41
gr/t Au across 8.3 meters. The true width of the zone is estimated to
be 2.0 meters and appears to be striking NNE.

Individual assays consist of:

---------------------------------------------------------------------
Sample Number Sample Length Assay Gold Original Sample Size
(meters) (gr/t) (Weight kilograms)
---------------------------------------------------------------------
1103001 2.30 2.37 6.90
---------------------------------------------------------------------
1103002 2.50 2.35 6.99
---------------------------------------------------------------------
1103003 2.50 3.48 4.01
---------------------------------------------------------------------

Trench 100

Located at 973070 North, 538594 East, the trench is situated on the
old drill pad approximately 2.0 meters from the collar for holes
MO94111 and MO95130. In both of these holes, casing was drilled to a
depth of 4.6 meters with no core recovery. The holes then intercepted
mineralized Quartz Breccia down to a depth of 24.0 meters. (The
highest assay result was 14 grams over 1.5 meters, but core recovery
is poor through the zone, averaging less then 50%).

The trench exposed a sericite altered Feldspar Quartz Porphyry and
the Hangwall contact to the Quartz Breccia Vein. Because the trench
cuts the Quartz Breccia Vein obliquely, 3 channel-chip samples were
taken at various attitudes on the vein. The average grade for the 3
samples is 29.31 gr/t Au.

Individual assays consist of:

---------------------------------------------------------------------
Sample Number Sample Length Assay Gold Original Sample Size
(meters) (gr/t) (Weight kilograms)
---------------------------------------------------------------------
1100002 2.00 16.81 6.04
---------------------------------------------------------------------
1100003 2.00 31.23 5.20
---------------------------------------------------------------------
1100007 1.00 39.89 7.40
---------------------------------------------------------------------

5 samples were collected either across or vertical down the trench in
the Feldspar Quartz Porphyry hanging wall. The five samples had an
average grade of 1.32 grams.

Individual assays consist of:

---------------------------------------------------------------------
Sample Number Sample Length Assay Gold Original Sample Size
(meters) (gr/t) (Weight kilograms)
---------------------------------------------------------------------
1100001 2.00 0.72 5.28
---------------------------------------------------------------------
1100004 1.15 0.32 3.7
---------------------------------------------------------------------
1000005 1.00 2.11 3.1
---------------------------------------------------------------------
1100006 1.00 2.14 6.46
---------------------------------------------------------------------
1100008 2.00 1.40 6.32
---------------------------------------------------------------------

Drill Pad MO94115

Located at 973063.3 North, 538539.5 East, channel-chip sampling was
completed across a quartz veinlet stockwork exposed in the back of
Drill Pad built for drill hole MO94115. The stockwork assayed 11.98
gr/t Au over 3.0 meters, with an estimated true width of 2.0 meters.

The first 24.6 meters of MO94115 were cased, and had no core
recovery, (Sludge samples taken during the placement of the casing
returned assays ranging from 13.0 to 0.200 gr/t Au).

Individual assays consist of:

---------------------------------------------------------------------
Sample Number Sample Length Assay Gold Original Sample Size
(meters) (gr/t) (Weight kilograms)
---------------------------------------------------------------------
1000004 1.00 18.00 3.71
---------------------------------------------------------------------
1000005 1.00 6.74 3.67
---------------------------------------------------------------------
1000006 1.00 10.95 3.84
---------------------------------------------------------------------


The success of the first test trenches to expose geology and identify
high-grade gold intersections in area where previous drilling had no
recovery has led to an acceleration of the trenching program on the
property.

Further trenching in the Northwest Zone will test new geological /
mineral domain models that are now being developed, prior to testing the
zone by drilling.

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 sample preparation and
assaying on the trench samples. Procedures included a 1assay tonne Gold
Fire assay and multi-element ICP analysis.

The Company is very pleased with the trenching results to date, and
early indications are leading the team to believe that drilling of the
Northwest zone could lead to an expansion of the gold reserves at
Molejon. As soon as all the results from the sampling are in the
Company's possession and the geological model has been completed, a
drilling program will be initiated to test the zone.

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.