Petaquilla Minerals Ltd. Announces Settlement with Geneva Resources, Inc.

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

VANCOUVER, April 17 /PRNewswire-FirstCall/ -- Petaquilla Minerals Ltd. (the "Company") today announced that it has settled its dispute with Geneva Resources, Inc. (previously Geneva Gold Corp. and Revelstoke Industries, Inc.) with respect to the San Juan Property, Panama.

The terms of the settlement are that the Company will retain a 100% interest in the Property and will issue to Geneva 100,000 common shares, to be released from pool in four equal monthly tranches. The shares may not be traded until the first pour of gold at the Company's Molejon Property, or December 31, 2008, whichever comes first.

The issuance of the shares has been conditionally accepted by the Toronto Stock Exchange. The shares issued are subject to a four month and a day resale restriction.

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.

Source: PETAQUILLA MINERALS LTD.

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2008-04-17 21:05:17 0339310 PRNEWSWIRE