VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/21/13

Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announces that it has negotiated and closed a non-brokered private placement of 14,285,714 Units at a price of $0.35 per Unit, raising gross proceeds of $5,000,000. 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 $0.45 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.

All dollar amounts referred to herein are expressed in Canadian dollars.

The securities sold have not, nor will they be registered under the United States Securities Act of 1933, as amended or applicable state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of a U.S. person, as such term is defined in Regulation S under the U.S. Securities Act, other than through registration or an applicable exemption from U.S. federal and state registration requirements. This news release does not constitute an offer for sale of securities in the United States.

About Petaquilla Minerals Ltd.

Petaquilla is a growing, diversified gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates a surface gold processing plant at its Molejon Gold Project, located in the south central area of Panama. In addition, the Company has exploration operations at its wholly-owned Lomero-Poyatos Project located in the northeast part of the Spanish/Portuguese (Iberian) Pyrite Belt and several other exploration licenses in Iberia.

On behalf of the Board of Directors of Petaquilla Minerals Ltd.

Joao C. Manuel, Chief Executive Officer

NO STOCK EXCHANGE HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

Contacts:
Petaquilla Minerals Ltd.
(604) 694-0021 or Toll free: 1-877-694-0021
(604) 694-0063 (FAX)
www.petaquilla.com