NPM Neptune Min

    Issue of Equity
             



FOR IMMEDIATE RELEASE

18 December 2007

                        NEPTUNE MINERALS PLC
                    ("Neptune" or the "Company")

                           Issue of equity

The Company announces that  the first milestone  has been reached  in
terms of the Performance Shares  issued to management in   accordance
with the Executive Incentive Plan.   Consequently a total of  603,750
performance shares for Directors, Simon McDonald and John Feenan  and
for  Exploration   Manager,  Justin   Baulch  (individually   201,250
performance shares each) have been converted to ordinary shares.

Following receipt  of  conversion notices  on  5 December  2007,  the
Company has on 17 December 2007  issued and allotted 201,250 ordinary
shares  of  0.5p  respectively  to   each  of  the  afore   mentioned
recipients.  Following the  issue of these  shares, the Company  will
have 66,045,813 ordinary shares in issue.  Application has been  made
for the shares to be  admitted to trading on  AIM and this will  take
place on 24 December 2007.

Following the  conversion  of  the above  performance  shares,  Simon
McDonald and John  Feenan will  have the following  interests in  the
Company:


 Director      Ordinary    % of share Performance       Options
                Shares      capital     Shares

Simon       8,310,000      12.9%      603,750     700,000 Options are
McDonald    Ordinary                  performance exercisable at 35
            Shares (Held              shares      pence with a first
            by Ismacate                           exercise date of 17
            Pty Ltd) and                          October 2008 and an
            201,250 held                          expiry date of 17
            directly.                             October 2012


John Feenan 4,362,751      6.9%       603,750     609,000 Options are
            Ordinary                  performance exercisable at 35
            Shares (Held              shares      pence with a first
            by JPF Energy                         exercise date of 17
            Pty Limited)                          October 2008 and an
            and 201,250                           expiry date of 17
            held directly.                        October 2012


                                 END

For further information please contact:

Simon McDonald (Neptune MD and CEO):
T: +61 (0) 2 9957 5244

By email to the Company
info@nepmins.com

Richard Hail (Fox Davies Capital Limited, Broker):
T: +44 (0) 20 7936 5200

Fiona Owen (Grant Thornton Corporate Finance, Nomad):
T: +44 (0) 20 7383 5100

Rozanne Ichikowitz (Grant Thornton Sydney):
T: +61 (0) 2 8297 2522

Nadja Vetter / Matthew Law (Cardew Group, PR):
T: +44 (0) 20 7930 0777

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