MMS.L Regulatory News (MMS)

19 Oct 2006 11:15

Maghreb Minerals PLC19 October 2006 MAGHREB MINERALS PLC AGM Statement At the Annual General Meeting to be held today, Gordon Riddler, Chairman ofMaghreb Minerals Plc ("Maghreb" or "the Company"), the AIM-listed explorationcompany developing both base and precious metal deposits in North Africa, willmake the following trading update: "We have made excellent progress, both in Tunisia and Algeria, towards definingresources and developing new opportunities. The drilling at Fej Lahdoum,Tunisia, confirmed the presence of significant lead and zinc mineralisation. Weare remodelling the mineral resource there based on the data recently receivedfrom the former mine workings and plan to carry out in-fill drilling to verifyand enlarge the tonnage levels." "A gravity and magnetic survey and subsequent data interpretation were completedat Djebba and Djebel Goraa in Tunisia in early August 2006. This surveydelineated the known extent of Zn and Pb mineralisation at Djebba and outlinedan additional area of anomalous high gravity extending across a zone measuringsome 700 metres to the north and 800 metres to the east of the knownmineralisation. A drilling programme has now commenced to test the gravityanomalies which may lead to a significant expansion of the mineralised area." "At the Tan Chaffao copper-gold prospect in Algeria, drilling has indicated thepresence of gold and base metal mineralisation and the results of a gravitysurvey should be to hand shortly to guide the next phase of the programme there." "Although we have relinquished four permits in Tunisia, we have also renewedfour and have added a further five and are actively negotiating two highlyprospective ones. In Algeria we are looking to add further permits to the onecovering Tan Chaffao." "The work being carried out is aimed at a move from exploration to development,with the goal of creating significant value for shareholders. We have the cashresources in hand to continue to fund the necessary work and the team andprojects in place that enable us to deliver". The technical content of this press release has been reviewed by the ExecutiveChairman of Maghreb Minerals plc, Gordon Riddler, BSc, MBA, FIMMM, CEng, CSci,CMkt, MCIM, MCMI who has 40 years of experience in the mining sector and is aFellow of the Institute of Materials, Minerals and Mining, a recognisedprofessional association. ENQUIRIES: Maghreb Minerals PlcGordon Riddler, Executive Chairman Tel: +44 (0) 20 7556 7038 HansonWesthouse LLP Tel: +44 (0) 20 7601 6100Tim Metcalfe/Anita Ghanekar Bankside Consultants Tel: +44 (0) 20 7367 8888Michael Padley / Michael Spriggs About Maghreb Minerals Plc Maghreb Minerals Plc is an AIM listed exploration company developing both baseand precious metal deposits in Tunisia and Algeria where it holds the rights toseveral licence areas. The Company is targeting base metals, mainly lead andzinc, but has also identified areas containing barite and fluorite in Tunisiaand gold and copper in Algeria. ENDS This information is provided by RNS The company news service from the London Stock Exchange