Highlights

• Placing raising US$4 million (c. �2.6 million) gross to progress development of Tulu Kapi
• Directors and Management of KEFI, and major shareholder Odey Asset Management LLP (�Odey�), subscribing for over two thirds of the sums raised. Odey will increase its shareholding to 26% of KEFI
• Follows appointment of contractors and confirmation of intent by the Government of Ethiopia to invest US$15-20 million in Tulu Kapi project in return for an increased equity interest in the project holding company

KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, is pleased to announce that it has conditionally raised approximately �2.6 million, before expenses, through the issue of 877,191,422 new ordinary shares of 0.1p each (�Placing Shares�) at a price of 0.3p per share (the �Placing Price�) by way of a placing through Brandon Hill Capital Limited (�Brandon Hill�), together with a subscription direct with the Company by Ausdrill International Pty Limited (�Ausdrill�), a leading service provider to the African mining industry and significant shareholder in the Company (the �Placing�).

Read the full announcement "Conditional Placing to Raise US$4 Million".

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