2008 Annual Report

 
TIDMMVA 
 
AIM Release 
                                                        30 March 2009 
 
 
                   Minerva Resources Plc (AIM:MVA) 
               ('Minerva Resources' or 'the Company') 
 
 
                         2008 Annual Report 
 
Minerva Resources announces that the audited report and accounts for 
the year ended 30 September 2008 (the 'Accounts') will not be 
published by the end of March 2009, as required under the AIM rules. 
 A number of delays to the completion of the Accounts have been 
encountered, due to the preparation requirements for the initiation 
of the Company Voluntary Arrangement (CVA) and the clarification of 
the Creditors' positions in the CVA. It is expected that the Accounts 
will be completed towards the end of April 2009 following completion 
of the audit. 
 
The Company's shares were suspended from trading on the AIM market on 
30 January 2009, at the request of the Company, pending clarification 
of its ongoing financial position. The Company expects that the 
formal stage of the CVA will be implemented in the near future 
 
Discussions, on the provision of ongoing funding, with several 
financial groups and companies in the resources sector, are 
progressing. Completion of these discussions is expected in the 
forthcoming two months. 
 
 
For further information please contact: 
 
Terry Ward 
Minerva Resources plc 
Tel: [phone] 
[e-mail] 
[e-mail] 
 
James Joyce/ Sarang Shah 
W. H. Ireland 
Tel: [phone] 
[e-mail] 
 
Nick Rome 
Bishopsgate Communications Ltd 
Tel: [phone] 
[e-mail] 
 
 
Notes to Editors 
 
Minerva Resources plc is a UK based mineral exploration and 
development company quoted on London's Alternative Investment Market 
(AIM:MVA). The Company is intent on delivering shareholder value by 
increasing and developing its mineral resources in a socially and 
environmentally responsible manner. 
The main focus is resource development in Ethiopia where the Company 
has first-mover advantage on prospective ground on the Arabian-Nubian 
shield. Key projects include the gold resources at the Tulu Kapi 
Project, plus the Gudeya-Guji, Guji and Dina Prospects and the Yubdo 
Platinum Mine, located in western Ethiopia, some 560km west of Addis 
Ababa. 
 
Tulu Kapi was mined in the 1930s by an Italian company. In the 1970s, 
the United Nations Development Programme mapped and drilled Tulu 
Kapi. Tan Range Exploration carried out soil sampling, further 
mapping and drilling in the 1990s. These two phases of work confirmed 
mineralisation extending over a strike length of 1.5km. 
Minerva Resources has completed 33 diamond drill holes to date, at 
Tulu Kapi, on its resource drilling programme on a 600m section, 
after encouraging Minerva Resources ground mapping, data 
reinterpretation and excellent scout drilling results. 
 
Scout drilling programmes have been completed at the Gudeya-Guji, 
Guji and Dina gold prospects, which are located in close proximity to 
Tulu Kapi. The drilling has shown mineralised intersections on all 
three prospects. 
The results from the drilling on Tulu Kapi, which are shown in the 
latest drilling report announcement on the Company's website, 
www.minervaresources.com, and the satellite prospects and their close 
proximity point towards a new gold province with the potential for 
the establishment of a 'one treatment plant - multiple feed 
scenario'. 
The Company is examining the potential to expand the small scale 
platinum production operations at Yubdo, some 25km from the Tulu Kapi 
Project. A pilot gravity recovery plant has been installed, a 
metallurgical research programme has been initiated and further 
exploration activities have commenced on the 9km by 1.5km surface 
expression of the orebody. 
 
In Sierra Leone, the Company holds gold, platinum and diamond 
exploration licences, which will for the most part continue to be 
developed by existing Joint Venture partners. 
 
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