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&amp... or 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 www.inmetmining.com.

SOURCE: Inmet Mining Corporation

Jochen Tilk, President and Chief Operating Officer, (416) 860-3972