Petaquilla Copper Delivers Arbitration Notice to Teck Cominco

Trading Symbol TSX: PTC

VANCOUVER, April 29 /PRNewswire-FirstCall/ -- Petaquilla Copper Ltd. ("Petaquilla") announces that it has delivered a Notice of Request to Arbitrate to Teck Cominco Limited ("Teck Cominco") with respect to a dispute about the Petaquilla Copper Project, Panama.

On March 28, 2008, Teck Cominco purported to deliver to Petaquilla a "Final Commitment" with respect to the Project. A "Final Commitment" is defined as a written notice given by Teck to each of Petaquilla and Inmet Mining Corporation unconditionally confirming that it will participate in all required Work Plans and Budgets for Development Operations for the purpose of achieving Commercial Production, in accordance with the terms of the Initial Feasibility Study relating thereto and in accordance with the terms of the Minera Petaquilla S. A. Shareholders' Agreement, and that it will arrange or provide Petaquilla's and Teck's share of the financing of the required Development Costs and specifying the terms of this financing.

The sole document supporting Teck Cominco's Final Commitment is a draft Interim FEED study delivered on January 31, 2008.

Petaquilla's position is that:

- Teck Cominco has failed to satisfy the preconditions for the making of
the Final Commitment;
- Teck Cominco's interest in the Petaquilla Copper Property has now
terminated;
- the Petaquilla Copper Property is now owned by Petaquilla Copper as to
a 52% interest and by Inmet Mining Corporation as to a 48% interest.

Without prejudice to Petaquilla's position that Teck Cominco failed to satisfy the preconditions for the making of the Final Commitment, Petaquilla has advised Teck Cominco and Inmet that it has elected to have its 26% interest in the Property fully carried.

About Petaquilla Copper -Petaquilla Copper Ltd. is a mineral exploration company headquartered in Vancouver, Canada. Its shares are listed on the Toronto Stock Exchange under the symbol PTC. The Company holds 52% of Minera Petaquilla, S.A., a joint venture company developing its world-class copper deposit in the Republic of Panama. Petaquilla Copper also owns 49% of the issued shares of Petaquilla Infrastructure Ltd., a company incorporated to manage and expedite the development of the power, port and related infrastructure in support of the Molejon Gold Mine of Petaquilla Minerals Ltd.

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

Richard Fifer
Chief Executive Officer and Director

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

Source: PETAQUILLA COPPER LTD.

CONTACT: Renmark Financial Communications: Julien Ouimet:
jouimet@renmarkfinancial.com; Victoria Stepanova:
vstepanova@renmarkfinancial.com; Media - Vanessa Napoli:
vnapoli@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

2008-04-29 21:13:44 0348491 PRNEWSWIRE