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Company Information for Maghreb Minerals Plc

AIM-MMS

www.maghrebminerals.co.uk

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AIM; MMS

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Company Statement

Maghreb Minerals plc (“Maghreb” or “the Company”) is listed on AIM in London, UK, and is exploring and completing advanced stage evaluation on deposits containing base metals (lead and zinc), silver and industrial minerals (barite and fluorite) along the highly prospective Mejerda zone in northern Tunisia. Its principal focus is on former producing mines with existing infrastructure.

The Company holds 10 exploration permits in areas of known zinc-lead-barite-fluorite mineralisation, including four sites of past production.

The Company’s principal project is at one of the past producing mines, Gite de l’Est - Bou Jabeur, where there was an earlier resource estimate1 of 5.1Mt grading 3.76% Zn, 1.38% Pb, 33.2% BaSO4 and 9.3% CaF2. The first objective here was to get a resource statement for the known mineralisation in accordance with international reporting standards.

Verification and step out drilling has been completed by the Company at the Gite de l'Est deposit. A considerable improvement for the new resource estimate is expected with the inclusion of the Company's recent drilling results and re-analyses of old ONM cores, which appear to have under-reported zinc values by up to 40%. Mining and metallurgical scoping studies are in progress, undertaken by Scott Wilson and SGS Lakefield Europe respectively.

Delineation drilling is in progress at the Fej Lahdoum exploration permit where the past producing Dar N'Hal Nord mine is located. This mine stopped production in September 2005 when the Bou Grine mill and concentrator shut down.

Exploration and drilling at Djebba has confirmed and slightly extended the deposit there. The Djebba resource estimate1 stands at approximately 4Mt grading 6% Zn and 3% Pb. Gravity surveys have indicated further exploration targets to the northeast at Djebel Goraa, which will be drill tested in due course.

Exploration on other permits will continue particularly around the highly prospective Lorbeus area, 4 km south west of Breakwater’s Bou Grine mill and concentrator, which is on care and maintenance. Partners are being sought to accelerate further surveys and exploration drilling on the Djebel Lorbeus permit.

The first phase of exploration drilling has been completed on the Zriba - Guebli exploration permit. An ONM resource estimate1 of 4.8Mt grading 25% CaF2 is given as remaining in the fluorite deposit. The drilling results show that there are significant quantities of fluorite present but with rapidly varying thickness. A preliminary geological study indicated the deposit has mining potential. A study on the viability of mining and extending the resource is required. Expressions of interest for the provision of funding both to accelerate towards the development for the fluorite project and production offtake have been received.

The Company's current priority is to bring one or more of its base metal exploration permits at past producing mines through scoping to pre-feasibility, starting with Gite de l'Est - Bou Jabeur, which has produced some excellent step out drilling results. Maghreb is in discussions and welcomes enquiries regarding the possibility of joint venturing on one or more of its exploration permits.

Current Operations

INNOVATION AND INVESTMENT RATIONALE
The Mejerda Zone of Tunisia is a highly prospective province rich in zinc and lead with a long history of mining dating back to Roman times. A period of intense mining in the 1800s ended with the departure of the French after independence in 1956.

Maghreb's geologists believe that the Tunisian deposits are akin to Mississippi Valley Type deposits (MVT) with similarities to Irish-style deposits influenced by a combination of structural and stratigraphic controls. A regional synthesis of the controls on mineralisation was reviewed and a new 'Thrust Related Model' has emerged in the past 10 years which is helping to elucidate some of the complexities of the area which up until now have been attributed to the existence of 'salt diapirs' throughout the Mejerda Zone. This 'Thrust Related Model' has been adopted in Maghreb's approach to exploration in the region.

This innovative approach together with the application of modern exploration techniques, favourable demand/pricing for the foreseeable future, stable local economy, good infrastructure and good, relevant expertise within the Company has provided the investment rationale to fund the acquisition of a strong permit portfolio, including areas of past production, and to engage in an active exploration and resource evaluation programme.

Following an Office National des Mines ("ONM") conference in Tunis in 1996, Consolidated Global Minerals established a portfolio of exploration permits. These were held by High Marsh Holdings Limited BVI, which subsequently was vended into Maghreb for shares upon admission of Maghreb to the AIM market in December 2004. Maghreb has subsequently refined and strengthened the portfolio. Since early 2007, it has established an excellent pipeline of projects at various stages from near - production evaluation through to active exploration.

STRONG EXPLORATION PERMIT PORTFOLIO
The Company now holds 12 secure exploration permits in areas of known zinc-lead-barite-fluorite mineralisation, including sites of past production. Ten of these (100% title held by the Company’s wholly owned subsidiary, High Marsh Holdings) are Djebba, Djebel Fej Lahdoum, Koudiat Louatia, Ouled Moussa, Djebel Goraa, Djebel Lorbeus plus four permits around Zaghouan, at Hammam Zriba-Jebel Guebli, Sidi et Taia, Jebel el Kohol and Jebel el Mecella.

The Company, through its wholly owned subsidiaries, also has two agreements with ONM to earn 90% interest in each of the exploration permits covering the former mine concessions at the past producing mines of Gite de l’Est - Bou Jabeur and Dar N’Hal Nord - Fej Lahdoum for an expenditure commitment on each of US$400,000 over 2 years. It has completed its 90% earn-in at Gite de l'Est and applied for Dar N'Hal Nord 90% interest having achieved the qualifying expenditure.

ACTIVE AND DIVERSE WORK PROGRAMME
Advanced Exploration and Resource Assessment
Work programmes for advanced stage exploration and resource assessment have been completed at Djebba and are in progress at past producing mine sites at Gite de l’Est-Bou Jabeur, Fej Lahdoum and Zriba – Guebli.

Verification drilling (10 drillholes) has been completed at the Gite de l'Est deposit, one of the past producing mines at Bou Jabeur. Re analyses of core pulps from earlier ONM drilling to arrive at their resource* estimate of 5.1Mt grading 3.76% Zn, 1.38% Pb, 33.2% BaSO4 and 9.3% CaF2 has shown that there has been a systematic under-reporting of zinc values by ONM of up to 40%. This new analytical data as it is received, along with the Maghreb verification drillhole data are being compiled into the resource estimation block model and are expected to have a positive impact. Meanwhile, a resource statement based on existing ONM data already compiled into the Maghreb block model has been received by Maghreb from Wardell Armstrong International. It reports an audited Inferred Mineral Resource estimate for Gite de l’Est at a 1% lead and zinc (“Pb+Zn”) cut off grade of 8.836 million tonnes (Mt) grading combined 3.16% zinc and lead: 2.17% zinc, 0.99% lead, 5.06% CaF2 and 21.66% BaSO4. At a 2% Pb + Zn cut off grade, the Inferred Mineral Resource is 5.172 Mt grading 4.40% combined zinc and lead: 3.15% zinc. 1.25% lead, 6.42% CaF2 and 27.76% BaSO4, prepared in accordance with JORC (2004) reporting standards. The in situ value of this mineral resource at the 1% Pb+Zn cut off grade is estimated to exceed US$925 million at December 2007 prices: Zn US$1.06/lb, Pb US$1.19/lb, BaSO4 US$85/t, CaF2 US$200/t.

A second phase of step out drilling (23 drillholes) is nearing completion at Gite de l'Est (July 2008). A mining and metallurgical scoping study is in progress, undertaken by independent consultants, which will include an updated resource estimate to be completed by October 2008. The excellent results from the step out drilling are expected to have a significant positive inmpact on the updated resource estimate.

Drilling at the past producing Fej Lahdoum exploration permit has recommenced near the Dar N’Hal Nord mine which stopped production in 2005 when the Bou Grine mill and concentrator shut down.

Exploration at Djebba has confirmed and slightly extended the deposit there. The Djebba resource* stands at approximately 3-4Mt grading 6% Zn and 3% Pb.

The first phase of verification drilling has been completed at Guebli, part of the Zriba-Guebli exploration permit. An ONM resource* estimate is 4.8Mt grading 25% CaF2. is given for the remaining fluorite resource. The drilling results show that there are significant quantities of fluorite present but with rapidly varying thickness. A preliminary geological study indicates mining potential. A detailed study on the viability of mining and extending the resource is now required. Expressions of interest for both the provision of development funding for accelerating exploration and development of the fluorite project and production offtake have been received.

* not to international reporting standards

Excellent Exploration Targets
Exploration will continue around the Djebel Lorbeus area, 4 km south west of Breakwater’s Bou Grine mill and concentrator which is on care and maintenance, and at Kohol, north of Zaghouan.

Further Exploration Potential
Gravity surveys have indicated further exploration targets to the north east of the main Djebba deposit, at Djebel Goraa, which will be drill tested. Similarly, anomalous gravity will be further drill tested on the Ouled Moussa exploration permit, north east of Gite de l’Est. Work on the other four exploration permits will continue in due course through to 2009/2010.

OUTLOOK
The Company’s focus continues to be on the known base metal deposits at the past producing mines (Bou Jabeur and Fej Lahdoum) with the intention progressively to bring the resources there up to international reporting standards and into production as quickly as possible. The Company is in active discussions with potential partners to accelerate the exploration and development of the fluorite deposits at Zriba - Guebli. Consulting geologists, with specialist knowledge of the structures, stratigraphy and mineralisation of carbonate-hosted lead-zinc deposits, were appointed to the management team in 2008. Maghreb is also in discussions and welcomes enquiries regarding the possibility of joint venturing on one or more of its exploration permits.
Maghreb Minerals plc is working closely with, and with the support of, the Office National des Mines (ONM) in Tunisia.

Geographical Spread

Tunisia

Board of Directors and Key Management

Richard J. Linnell	Chairman
Dunbar Dales	Chief Executive Director
James C. Passin	Director
Albert C. Gourley	Director
Carlos Nascimento	Country Manager Tunisia
Silvija Bondi	Group Financial Controller

Company Address

Blackwell House
Guildhall Yard, London, United Kingdom EC2V 5AE


Telephone:	+44 (0) 20 7556 0940
Facsimile:	+44 (0) 207 556 0949
Email:	jane.hywood[at]maghrebminerals.co.uk
Website:	http://www.maghrebminerals.co.uk

Additional Address/Key Contact

General enquiries to:
info@maghrebminerals.co.uk

Chief Executive: Dunbar Dales
dunbar.dales@maghrebminerals.co.uk

Country Manager - Tunisia: Carlos Nascimento
hmh.manager@tunet.tn

Capital

As of 9 March 2010, the total number of shares in issue is 159,922,871

Year End

30 June

Nominated Brokers

Westhouse Securities Limited
1 Angel Court
London EC2R 7HJ

Nominated Advisors