Mr. Joao Manuel reports

PETAQUILLA MINERALS LTD. CLOSES PRIVATE PLACEMENT FINANCING

Petaquilla Minerals Ltd. has negotiated and closed a non-brokered private placement of 14,285,714 units at a price of 35 cents per unit, raising gross proceeds of $5-million. The proceeds from the private placement will be used for general working capital purposes.

Each unit consists of one common share and one common share purchase warrant, whereby each warrant entitles the holder to purchase one additional common share of the company for a period of five years from closing at an exercise price of 45 cents per share. The securities distributed under the private placement are subject to a four-month-plus-one-day hold period.

In connection with the closing of the private placement, the company has paid finders' fees in the amount of $200,000 cash.