Update - Notice of Intention to Propose Directors

 
TIDMNPM 
 
28 January 2009 
 
                        NEPTUNE MINERALS PLC 
 
              Notice of Intention to Propose Directors 
 
Neptune Minerals  plc  ("the Company")  (AIM:  NPM) announced  on  27 
January 2009 that Clachan  Nominees Limited A/C Holdings  ("Clachan") 
and New Smith Opportunities Private  Equity Fund LP ("Newsmith")  had 
served notice of their intention to propose at the forthcoming Annual 
General Meeting  ("AGM")  to be  held  at  11am on  30  January  2009 
resolutions ("the Resolutions") to appoint the following as directors 
of the Company. 
 
 
  * Christopher John Rowe and Douglas Harry Winton (nominated by 
    Clachan); and 
 
 
 
  * Peter Adrian Vanderspuy and Sadiq Currimbhoy (nominated by 
    Newsmith). 
 
 
A  number  of  shareholders   have  contacted  the  Company   seeking 
clarification on how to  vote on the  Resolutions.  Some guidance  is 
set out below. 
 
1.                  attend the meeting; or 
 
2.                  if they have already appointed a proxy, they  may 
give directions to the proxy as to how the proxy should vote on these 
Resolutions.  The  direction does  not need  to be  in any  specified 
format.  If shareholders have appointed  the Chairman as proxy,  they 
may send notice, by hand or post, to Share Registrars Limited,  Suite 
E, First Floor, 9 Lion and Lamb  Yard, Farnham, Surrey GU9 7LL or  by 
fax to [phone] to be received  by 4.30pm on 29  January 
2009, setting out directions to the Chairman as to how he should vote 
on the Resolutions; 
 
3.                   in  the   case  of  a   shareholder  who  is   a 
corporation, they  could  appoint  a  representative  to  attend  the 
meeting  on  behalf  of  the  corporation  and  exercise  all  rights 
attaching to those shares, including voting on the Resolutions should 
they be put to the meeting. 
 
Unfortunately, the  deadline  for submitting  a  proxy form  has  now 
passed. 
 
For more information please contact: 
 
 
Simon McDonald (Neptune MD and CEO):          T: [phone] 
By email to the Company                       [e-mail] 
 
Fiona Owen (Grant Thornton UK LLP, Nomad):    T: [phone] 
 
Rozanne Ichikowitz (Grant Thornton, Sydney):  T: [phone] 
 
Daniel   Fox-Davies   (Fox   Davies   Capital T: [phone] 
Limited, Broker): 
 
Nadja Vetter/Sofia Rehman/Matthew Law (Cardew T: [phone] 
Group, PR):                                   T: [phone] 
 
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.