Issue of Equity

FOR IMMEDIATE RELEASE 18 March 2008 NEPTUNE MINERALS PLC ("Neptune" or the "Company") Issue of equity The Company announces that in accordance with the Executive Incentive Plan 50,000 performance shares have been converted to ordinary shares. Following receipt of the conversion notice the Company has, on 17 March 2008, issued and allotted 50,000 ordinary shares of 0.5p. Following the issue of these shares, the Company will have 66,114,113 ordinary shares in issue. Application has been made for the shares to be admitted to trading on AIM and this will take place on 25 March 2008. END For further information please contact: Simon McDonald (Neptune MD and CEO): T: +61 (0) 2 9957 5244 By email to the Company: 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 ---END OF MESSAGE---