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Petaquilla Meets with the President of Panama

Money Matters VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 2, 2006--Petaquilla Minerals Ltd. ("PTQ" or the "Company") (TSX:PTQ - News; OTCBB:PTQMF - News; FWB:P7Z) is pleased to announce that on January 26, 2006, representatives of the Company met with the President of the Republic of Panama, Martin Torrijos Espino, his Minister of Commerce and Industries, Alejandro Ferrer, and the Vice-Minister, Manuel Jose Paredes, at the Presidential Palace in Panama City, Panama. Present at the meeting, on behalf of the Company, were Richard Fifer, President of Petaquilla Minerals, S.A., Marco Tejeira, Director, Tom Byrne, manager of Corporate Communications, Octavio Choy, advisor to the Company on Commercialization, and certain shareholders and investors of the Company. The objective of the meeting was to update the Panamanian government officials on recent developments at Petaquilla Minerals Ltd.'s gold and copper deposits. Mr. Fifer spoke at length with President Torrijos regarding the ongoing process of road construction, power line routing and other tasks being undertaken by the Company in the development of the mine site. The President of Panama expressed his enthusiasm for the Petaquilla project and reiterated his complete support for this very important aspect of the overall economic development plan for the country. President Torrijos was quoted as saying, "this project is of great importance for the economic well-being and enhancement of the quality of life for the people of the region where the deposit lies."

It should be noted that the President is beginning just the second year of his five-year term and the Company looks forward to working closely with his administration on the development of the project.

Photographs of the meeting will be posted on the company's website listed below.

On behalf of the Board of Directors of


Michael Levy, President and Director

No stock exchange has approved or disapproved the information contained herein.

Petaquilla Minerals Ltd. (TSX:PTQ - News; OTC Bulletin Board:PTQMF - News; FRANKFURT:P7Z - News)

Petaquilla Minerals Ltd.
Michael Levy
President and Director
(604) 694-0021
Fax: (604) 694-0063

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