Prequalification for Seafloor Mining Contract

    Prequalification for Seafloor Mining Contract
             



FOR IMMEDIATE RELEASE

            30 May 2008

                        NEPTUNE MINERALS Plc
                             ("Neptune")

            PREQUALIFICATION FOR SEAFLOOR MINING CONTRACT

Neptune Minerals (AIM: NPM) has  issued Expression of Interest  (EoI)
and prequalification documents to leading international dredging  and
subsea engineering companies.  The EoI is to undertake a Build,  Own,
Operate ("BOO") contract mining system for the commercial development
of seafloor massive sulphide  ("SMS") deposits offshore New  Zealand.
 The prequalification process will conclude with proposal submissions
in July 2008.   Negotiations with a selected short list will  follow,
leading to the award of a BOO mining contract.

Neptune is planning on embarking on a long-term advanced  exploration
program in New Zealand waters (Project  Trident) the aim of which  is
to  define   multiple  SMS   deposits  over   which  Mining   Licence
applications will  be made.   These deposits  will comprise  the  SMS
tonnage that will be exploited by the BOO contract mining system.

Neptune's Chief Executive Officer Dr Simon McDonald said:
"The BOO contract  mining concept  represents a  key opportunity  for
Neptune to unlock the value of  its New Zealand SMS deposits  without
incurring  major   capital   expenditure  on   its   balance   sheet.
Implementation of the  BOO contract  will see the  critical areas  of
engineering design, construction and mining operations undertaken  by
marine industry  specialists.  Neptune  will  continue  to  focus  on
defining and expanding its inventory  of SMS deposits whilst  working
with the selected contract miner to deliver SMS production."

END

For further information please contact:

Simon       McDonald        (Neptune       MD        and        CEO):
                                  T: [phone]
By                   email                   to                   the
Company
[e-mail]

Richard  Hail  (Fox  Davies  Capital  Limited,   Broker):
            T: [phone]

Fiona Owen (Grant Thornton Corporate Finance, Nomad):              T:
[phone]

Rozanne  Ichikowitz   (Grant  Thornton   Sydney):
            T: [phone]

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

T: [phone]

The Neptune Minerals Website is www.neptuneminerals.com

About Neptune
Neptune Minerals is a leading explorer and developer of precious- and
base-metal seafloor massive sulphide (SMS) deposits, with granted
exploration licences totalling more than 278,000 km2 in the
territorial waters of New Zealand, Papua New Guinea, the Federated
States of Micronesia and Vanuatu.

Neptune recently completed its second and third exploration programs,
Kermadec 07 and Colville-Monowai 07, offshore New Zealand. During
Kermadec 07, Neptune discovered two new hydrothermally inactive SMS
zones over which the company plans to lodge a mining licence
application.
Neptune has exploration applications covering 436,000 km2 pending in
the territorial waters of New Zealand, Japan, Commonwealth of
Northern Mariana Islands, Palau and Italy.

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