Prospecting Licence Applications Lodged

    Prospecting Licence Applications Lodged
             



FOR IMMEDIATE RELEASE
                                                         15 MAY 2008

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

            NEPTUNE LODGES FURTHER APPLICATIONS IN JAPAN

Japan
Neptune Minerals Plc (AIM: NPM), a leading explorer and developer  of
Seafloor Massive  Sulphide ("SMS")  deposits, announces  that it  has
lodged 405 Prospecting Licence  Applications over highly  prospective
areas within the territorial waters  of Japan. The applications  have
been accepted as correct by  Japan's Ministry for Economy, Trade  and
Industry (METI) and have been allocated the tenement numbers 20/223 -
20/627.  The applications now await approval from METI to be  granted
as Prospecting Licences.

The  applications   were  lodged   by  the   Company's   wholly-owned
subsidiary,  Neptune  Minerals  Japan  Kabushiki  Kaisha  and   cover
SMS-prospective seafloor features  located approximately 500km  south
of Tokyo and adjacent  to three areas  covered by Neptune's  existing
Prospecting Licence Applications.

Izu-Bonin Arc
The 405 applications with  a total area of  1,400 km2 cover areas  in
the Izu-Bonin  Arc, a  volcanic island  arc and  associated  back-arc
basin entirely within the territorial waters of Japan south of Tokyo.
Neptune's  applications  cover  6  areas  considered  to  be   highly
prospective for SMS  adjacent to three  seamounts over which  Neptune
has existing Prospecting Licence Applications. These three  seamounts
- - Bayonnaise, Myojin and Myojinsho Knolls - all host  well-researched
SMS deposits. One of these  deposits, Sunrise, has been estimated  by
Japanese researchers to cover an area of 400m x 400m with a  sulphide
mound accumulations up to 30m thick.

Dr Simon McDonald, Neptune's Chief Executive Officer, said:
"Neptune's new Japanese applications are an important addition to the
Company's portfolio  of  high  quality SMS  tenements.   Neptune  has
utilised its early-mover advantage and good relationships with  local
researchers  to  apply  for  prospective  acreage  located  close  to
potential offtake  customers  and  resource-hungry  markets.    These
applications are adjacent to Neptune's existing Izu Arc  applications
which cover all the known areas of SMS mineralisation in Japan".

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      /      Matthew     Law      (Cardew      Group,
PR):                         T: [phone]

T: [phone]

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