Petaquilla Minerals Ltd. TSX: PTQ OTC Bulletin Board: PTQMF FRANKFURT: P7Z

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 4, 2008) - Petaquilla Minerals Ltd. (the "Company") (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) announced today that it has entered into a lock-up agreement with 6910360 Canada Inc., a wholly-owned subsidiary of Inmet Mining Corp., for the sale of its shares of Petaquilla Copper Ltd. at $2.20 per share. The Company owns 20,418,565 shares of Petaquilla Copper Ltd. The transaction is scheduled to close on September 19th , 2008.

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.