Petaquilla Minerals Ltd. Announces Drill Hole Results



    Trading Symbols:
    TSX: PTQ
    OTCBB: PTQMF
    FWB: P7Z

    VANCOUVER, March 24 /CNW Telbec/ - Petaquilla Minerals Ltd. (the
"Company") today announced drill hole results received since the last resource
model update of the Molejon gold deposit.
    The two objectives of the drill program were to provide infill
information to complement data obtained from previous drilling and to advance
towards delineating the mineral deposit. The program has succeeded in meeting
both its objectives. First, the results obtained from infill drilling will
allow for the conversion of inferred and indicated resources to indicated and
measured resources, respectively. Second, as the condemnation holes support
the model, the results obtained from delineation drilling have verified the
geologic interpretation and have also provided for important increases in
geologic understanding.
    The holes that did not intercept mineralization were effectively around
the perimeter of the known deposit. The holes that did intersect
mineralization were drilled to define the suspected high grade and, while
important for increasing the high grade envelope, also verify the model.
Additionally, these results have provided the basis to expand the previously
modeled high grade ore shell to encompass a previously undrilled region.
    The following table highlights important results from the drill holes
added since the last model update in October 2007. It should be noted there
were 132 holes added since the last model update. Complete drill results will
be published on the Company's website.

    
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                                     Average
    Drillhole    Thickness(m)    Grade (g/t)  Lithology    From (m)    To (m)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    MO-07-383             8.8          5.06        QZBX      116.5     125.3
    -------------------------------------------------------------------------
    MO-07-383             4.4          1.62        QZBX      138.6       143
    -------------------------------------------------------------------------
    MO-07-386               9          3.64        QZBX      91.85    100.85
    -------------------------------------------------------------------------
    MO-07-388             4.5          1.96        QZBX       96.6     101.1
    -------------------------------------------------------------------------
    MO-07-388            12.5          1.17        QZBX        105     117.5
    -------------------------------------------------------------------------
    MO-07-391             7.5          6.27   ANPO/QZBX          9      16.5
    -------------------------------------------------------------------------
    MO-07-391               9          1.43   ANPO/QZBX       22.5      31.5
    -------------------------------------------------------------------------
    MO-07-479            12.5          9.99    SAP/QZBX          0      12.5
    -------------------------------------------------------------------------
    MO-07-495           14.15          2.86        ANBR      78.95      93.1
    -------------------------------------------------------------------------
    MO-07-497              20          3.50        QZBX       68.5      88.5
    -------------------------------------------------------------------------
    MO-07-497             8.2          1.61        QZBX         97     105.2
    -------------------------------------------------------------------------
    MO-07-497               7          1.24        ANBR      128.5     135.5
    -------------------------------------------------------------------------
    MO-07-413                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
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    MO-07-414                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MO-07-438                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MO-07-447                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MO-07-455                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MO-07-460                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MO-07-466                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MO-07-475                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MO-07-492                Condemnation hole: no significant intercepts
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Lithology codes: QZBX= quartz breccia, ANPO=
    andesite porphyry, SAP= saprolite, ANBR= andesite
    breccia
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------


    The independent QP, Cathryn Stewart, P. Geo., has verified that recent
drilling, sample preparation and laboratory procedures utilized for the
Molejon project meet NI 43-101 standards. Strict QA/QC protocols have been
defined and implemented for the submission of blanks, standards and duplicate
core samples to the laboratory. Samples were analyzed at ALS Chemex Labs Ltd.
    At the Lata prospect, a detailed field mapping and surface sampling
program is ongoing and a diamond drilling program has commenced. Initial
surface sampling results include 11.7 g/t Au sample (sample number: R-49),
8.24 g/t Au (sample number: R-270), 2.02 g/t Au (sample number: R-172, and 
1.7 g/t Au (sample number R-116). The anomalous sample results highlight a NW
trending structure that projects to the south toward the Molejon deposit,
confirming the district geological interpretation. Initial drilling has
intercepted alteration in andesitic host rocks. The assays are pending
completion at ALS Chemex.
    In addition to the above, a 260 line kilometre Induced Polarization (IP)
geophysics program and a detailed field mapping program are concurrently
underway over a significant part of the Company's concessions. To date, the IP
geophysics program is 30% complete and is focused on identifying 'Molejon
look-alikes' along the main mineralized trends.
    About Petaquilla Minerals Ltd. - Petaquilla Minerals Ltd. is an emerging
gold producer scheduled to bring its 100%-owned Molejon Gold Project into
production in 2008. Anticipated throughput for the project during the first
year of production will be 2200 tonnes per day. The plant will utilize three
ball mills and a carbon-in-pulp processing facility.


                   On behalf of the Board of Directors of
                           PETAQUILLA MINERALS LTD.

                                Richard Fifer
                    President and Chief Executive Officer
    


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




For further information:

For further information: Renmark Financial Communications: Jason Roy,
jroy@renmarkfinancial.com; Josh Rivard, jrivard@renmarkfinancial.com; Media:
Vanessa Napoli, vnapoli@renmarkfinancial.com, (514) 939-3989, Fax : (514)
939-3717, www.renmarkfinancial.com

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