TORONTO, July 6 /PRNewswire-FirstCall/ - Inmet Mining Corporation
(IMN-TSX) announced that it intends to make an all-cash offer ("Offer") for
all of the outstanding common shares of Petaquilla Copper Ltd. (PTC-TSX) at
a price of $2.00 per share.

    The Offer represents a 108 percent premium to the closing price of the
Petaquilla Copper common shares on the Toronto Stock Exchange as at July 4,
2008, the last trading day immediately prior to announcement of the Offer,
and a premium of 85 percent to the 20-day volume weighted average price as
at the same date. Full details of the Offer will be included in the formal
offer and take-over bid circular to be filed with securities regulatory
authorities and mailed to Petaquilla Copper shareholders.

    The Offer will be open for acceptance for at least 35 days following
commencement of the Offer and will be subject to certain conditions,
including receipt of all necessary regulatory clearances, the absence of
any material adverse change in Petaquilla Copper and acceptance of the
Offer by Petaquilla Copper shareholders owning not less than 50.1 percent
of the Petaquilla Copper common shares on a fully-diluted basis. Following
completion of the Offer, Inmet intends but is not required to take steps to
acquire any Petaquilla Copper common shares that remain outstanding.

    Inmet will formally request a Petaquilla Copper shareholder list
tomorrow and intends to file and mail the take-over bid documents as soon
as possible following receipt of the shareholder list.

    In connection with the Offer, Inmet has entered into a lock-up
agreement with certain institutional shareholders owning 15,079,000
Petaquilla Copper common shares, or 9.38 percent of the Petaquilla Copper
issued and outstanding common shares, under which such shareholders have
agreed to tender their common shares to the Offer.

    This press release does not constitute an offer to buy or the
solicitation of an offer to sell any of the securities of Petaquilla
Copper. Such an offer may only be made pursuant to an offer and take-over
bid circular filed with the securities regulatory authorities in Canada.

    Inmet's financial advisor is BMO Capital Markets and its legal advisors
are Torys LLP and Lawson Lundell LLP.

    Conference Call and Webcast

    On Monday, July 7, 2008 at 8:30 a.m. Eastern Time, Inmet will hold a
live conference call and webcast with a slide presentation regarding the
Offer. The call will be hosted by Richard Ross, Chairman and Chief
Executive Officer and Jochen Tilk, President and Chief Operating Officer.

    You are cordially invited to listen to the audio webcast through
either:

    http://w.on24.com/r.htm?e=114147&s=1&k=8D51645C98828A18EDE63E1B2EE001E4
or http://www.inmetmining.com

    After the broadcast, an archive of the webcast will be available on
both websites.

    Interested persons who are unable to connect to the webcast can listen
to the conference call by dialing +1 416-644-3417 (local/international) or
toll-free +1 800-733-7571 (North America only).

    Forward looking information

    Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future prospects. This
press release contains forward-looking information. These are
"forward-looking" because we have used what we know and expect today to
make a statement about the future. Forward-looking statements usually
include words such as may, expect, anticipate, and believe or other similar
words. Capital and operating cost estimates are forward-looking statements,
and are based on assumptions that we believe to be reasonable. However,
actual events and results could be substantially different because of the
risks and uncertainties associated with our respective business or events
that happen after the date of this press release. You should not place
undue reliance on forward-looking statements.

    About Inmet

    Inmet is a Canadian-based global mining company that produces copper,
zinc and gold. We have interests in four mining operations in locations
around the world: Cayeli, Pyhasalmi, Troilus and Ok Tedi. We also have
interests in three development properties, Las Cruces, Cerattepe and
Petaquilla.

    This press release is also available at http://www.inmetmining.com.

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