Offshore staff

TANZANIA -- Aminex Plc's Tanzanian subsidiary Ndovu Resources Ltd. has signed an agreement with Perth-based Key Petroleum Ltd. to farm out an interest in the Nyuni East Songo Songo license offshore Tanzania. Key has agreed to farm into Nyuni for a 20% working interest.

To earn its 20% interest Key will contribute 30% toward the costs of two exploration wells on Nyuni, the first of which is due to be spud in 2Q 2007 and the second will be drilled later in the year. Key will also issue either 2,000,000 new, fully-paid shares in Key to Aminex or a number of shares valued at the time of the company's admission to the full list of the Australian Stock Exchange at $465,269, whichever number of shares is the greater. Finally, Key will contribute 10% of all license costs, in addition to drilling, which include the current seismic program.

2/5/2007