Inmet Mining Mails Offer to Petaquilla Copper Shareholders

    TORONTO, July 28 /CNW/ - Inmet Mining Corporation (IMN-TSX) announced
today that it has filed the formal offer for all of the outstanding common
shares of Petaquilla Copper Ltd. (PTC-TSX) with Canadian securities regulators
and has mailed the offer and related documents to Petaquilla Copper
    Under the offer, Petaquilla Copper shareholders will receive Cdn$2.00 per
share in cash. The offer represents a 108 percent premium to the closing price
of the shares on the Toronto Stock Exchange as at July 4, 2008, the last
trading day immediately prior to announcement of the offer, and a premium of
85 percent to the 20-day volume weighted average price as at the same date.
    The offer will be open for acceptance until 5:00 p.m. (Toronto time) on
September 3, 2008, unless extended or withdrawn. The offer is subject to
certain conditions, including among other things, the Petaquilla Copper
shareholder rights plan being waived, invalidated or cease-traded, receipt of
all necessary regulatory clearances, the absence of any material adverse
change in Petaquilla Copper and minimum acceptance of the offer by Petaquilla
Copper shareholders holding at least 50.1 percent of the outstanding shares of
Petaquilla Copper calculated on a fully-diluted basis. Full details of the
offer are included in the formal offer and take-over bid circular.
    On July 5, 2008, certain institutional shareholders of Petaquilla Copper
agreed to tender, in the aggregate, 15,079,000 Petaquilla Copper common
shares, or 9.38 percent of the Petaquilla Copper issued and outstanding common
shares to the offer.
    Copies of the offer and take-over bid circular can be accessed from
Inmet's website at and from the System for Electronic
Document Analysis and Retrieval at
    This press release does not constitute an offer to buy or the
solicitation of an offer to sell any of the securities of Petaquilla Copper.

    Forward looking information

    Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future prospects. This
press release contains forward-looking information. These are
"forward-looking" because we have used what we know and expect today to make a
statement about the future. Forward-looking statements usually include words
such as may, expect, anticipate, and believe or other similar words. Capital
and operating cost estimates are forward-looking statements, and are based on
assumptions that we believe to be reasonable. However, actual events and
results could be substantially different because of the risks and
uncertainties associated with our respective business or events that happen
after the date of this press release. You should not place undue reliance on
forward-looking statements.

    About Inmet

    Inmet is a Canadian-based global mining company that produces copper,
zinc and gold. We have interests in four mining operations in locations around
the world: Cayeli, Pyhdsalmi, Troilus and Ok Tedi. We also have interests in
three development properties, Las Cruces, Cerattepe and Petaquilla.

    This press release is also available at

For further information:

For further information: Jochen Tilk, President and Chief Operating
Officer, (416) 860-3972

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