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19 November 2008

Maghreb Minerals Plc

Changes to the Board

The Board of Maghreb Minerals Plc (Maghreb or the Company) has been in discussions with the Company's principal shareholders, Firebird Global Master Fund, Ltd. and Firebird Global Master Fund II, LLP (together Firebird or Firebird Funds), which own 24.06% of the Company's issued share capital, regarding the future development of your Company's business. The Firebird Funds, and their sister funds, have extensive interests in a wide range of mining assets and companies. The Firebird Funds have approximately USD$1.75 Billion in assets under management.

Firebird has a particular interest in the fluorite industry, having several investments in this business and a positive outlook for this particular market. Firebird has indicated that they are interested in supporting the Company in its efforts to maximise potential returns from its fluorite assets, which may require additional investment. 

The Company is well advanced with the preparation by independent experts of a scoping study evaluating its lead/zinc assets at Bou Jabeur, which is expected to be published by the end of this year. Drilling on the Fej Lahdoum lead and zinc permits has recommenced and the Company continues to pursue its exploration programmes in accordance with the obligations under its other exploration permits. 

As Shareholders will be aware, the future exploration and development of the Company's assets will require considerable funding. The Company has limited financial resources and, in current market conditions, external funding will be difficult to secure. Firebird has indicated that it will consider supporting the Company financially, where required, subject to the proposed terms of investment, availability of cash resources and prevailing market conditions at the time, as well as applicable regulatory and other approvals. 

Against this background, the Board has agreed to appoint the following additional directors, who have experience in the finance and mineral resources industries.

James Christopher Passin (36) joined Firebird in 1999. He co-founded and manages Firebird Global Fund and Firebird Global Fund II. Mr. Passin serves on the board of directors of National Investment Bank of Mongolia and Sharyn Gol, a coal producer listed on the Mongolian Stock Exchange. He also serves as a director of several private, venture-stage international resource companies.

Richard John Linnell (64) has been active in the resources sector for almost forty years with significant global experience in the development and marketing of resources and commodities and was a former head of Billiton Plc's African exploration and development operations. He has served as a board member of several public companies listed on the ASX, TSX, JSE and/or AIM markets.

Albert Carlisle Gourley (43) is a London-based corporate partner in the law firm Fasken Martineau DuMoulin, LLP with a particular focus on initial public offerings, equity financings and mergers & acquisitions in the resource industry. Mr. Gourley is also the managing partner of the firm's Johannesburg office and has served as a board member of several public companies listed on the AIM and/or TSX markets.

Given the changes to the Board, Gordon Riddler has decided that he will step down from the Board with immediate effect and Richard Linnell will take over as Chairman.

Further Information relating to the appointment of the new directors 

Each of James Passin, Richard Linnell and Albert Gourley has in the last five years held, the following directorships: 

	Current	Past
James Passin	FGS Advisors, LLC         FG2 Advisors, LLC   FG2 Holdings, LLC Firebird Avrora Advisors, LLC Firebird Holdings, LLC Firebird Private Equity Advisors, LLC National Investment Bank of Mongolia Sharyn Gol Mongolian Resources Holdings Corporation Arax Energy Corp Arax Energy Inc Firebird Avrora Holdings, LLC	Caspian Services Inc.
Richard Linnell	Falkland Gold and Minerals Ltd     Brinkley Mining PLC         Centebale Resources Ltd          Chrome Corporation Limited        Coal of Africa Ltd            Cuco Resources Ltd         GRD Minproc Limited GRD Minproc SA Ltd Mag Industries Corp. Inc. Mag Minerals Potash Corp. Moydow Mines International Inc. New Africa Mining Fund New Kush Exploration & Mining Nimag Pty Ltd SA Mineral Resources Corporation Limited VML Resources	Kalahari Diamond  Resources PLC Resource and Investment NL BHP Billiton SA Ltd Silson Investment Holdings Ltd Terra Africa Investment Ltd
Albert Gourley	Moydow Mines International Inc. 2016321 Ontario Inc.          Gourley Holdings Inc.          Gourley Holdings 2 Inc.          Fasken Martineau DuMoulin LLP  Fasken Martineau DuMoulin (Pty) Ltd. Fasken Martineau LLP (England),  Cuco Resources Ltd.	Macleod Dixon LLP Tango Mineral Resources Inc Tan Range Exploration Co. Metco Resources Inc.

            

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Each of James Passin, Richard Linnell and Albert Gourley have confirmed that there is no further information to be disclosed in accordance with the requirements of Schedule Two (g) of the AIM Rules.

Enquiries:

Maghreb Minerals Plc             Tel: +44 (0) 20 7556 0940

Richard Collier

Hanson Westhouse Limited         Tel: +44 (0) 20 7601 6100

Tim Metcalfe / Anita Ghanekar

 

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