Company Information for Metals Exploration Plc

AIM-MTL

www.metalsexploration.com

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AIM; MTL

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Company Statement

Overview

Metals Exploration (AIM: MTL) is a UK based precious and base metals exploration company focused on increasing shareholder value through the acquisition and development of world class mineral exploration properties in Southeast Asia, in particular the Philippines.

The Company’s highly experienced management team has a mix of complimentary skills enabling Metals Exploration to be a cost-effective and precise explorer that sets targets which are most likely to deliver real shareholder value.

Runruno, the Company’s flagship project currently has a total JORC Inferred Resource of 2.1 Moz gold and 36.6 Mlb molybdenum, with 775k Oz gold and 18Mlb Molybdenum within the Indicated category.

In August 2007 Metals Exploration entered into an agreement with PT Batan Pelei Mining to acquire rights to various properties on Waigeo Island in Indonesia, which have potential for major nickel laterite resource. Historic drilling identified non-JORC compliant resources of 35 mt @ 1.5% Ni, 0.13% Co, 37% Fe.

Metals Exploration also has five exploration permits awaiting approval that offer long term potential, all also located in Luzon.

Following the Company's admission to AIM in October 2004 Metals Ex has focused its efforts on the acquisition of a significant interest in seven mineral exploration projects, namely Runruno, Puray, Worldwide, Capaz, Dupax and Sulong, (which are all located in the Philippines) and Waigeo Island (located in Indonesia) and are considered by the Company to have substantial exploration potential.

Current Operations

Runruno -
The Company is presently exploring Runruno, a gold / molybdenum deposit with the potential to substantially increase its reported 2.1Moz Au and 36.6Mlb Mo JORC compliant Inferred & Indicated resource.

Recently started a Scoping Study on the deposit, due to report in the summer of 2008. This should provide the basis for a bankable feasibility study to begin in the second half of the year.
Site sits within a large alkaline volcanic complex of which less than 20% has been explored.
A feasibility study undertaken in 1980 suggested that the project had the potential to become an economic gold producer with significant upside potential to its then defined resource of 600,000oz.
The mineralised structure is approximately 100m in thickness and is variably mineralised with higher gold-molybdenum values at the upper and lower margins of the zone.
Deposit can be traced continually with a combination of outcrop, tunnel and drill control for a strike length of at least 2.2km and a down dip extension of over 600m.
51 tunnel locations have been sampled from 5 zones over a strike length of 1.7 km within the main mineralised area of the main fault zone.
Average grades of the material left behind by the earlier high-grade miners are 4.3 g/t Au and 1,125ppm (0.12%) Mo.

Waigeo Island -

Located in Indonesia, between Papua New Guinea and the Philippines, in the Halmehera Sea.
Historical drilling during the 1970s identified laterite deposits within the area of some 35Mt at grades of 1.5% Ni, 0.13% Co, and 37% Fe at a 1.1% Ni Cut-off.
The immediate target is the Sarenbon nickel laterite deposit, where historical drilling identified a non-JORC compliant resource of 15.7 Mt at 1.53% Ni, 0.14% Co,and 34% Fe at a 1.1% Ni Cut-off.
It is the immediate intention to test the potential at Sarenbon for direct shipping of high-grade nickel laterite ore to consumers in Asia.
This will involve diamond drilling, construction of infrastructure, identification of likely offtakers, and the conversion of the exploration permit to an exploitation and shipping one.
The Company believes that there is potential to develop a sustainable short and medium-term nickel operation in Waigeo, with significant potential to increase the size of the resource.

Exploration licences are expected this year for:

Sulong - previously mined for manganese in the 1970's, which may comprise a gold-bearing vein-fault system with potential for porphyry copper mineralisation.

Dupax - previously open-pit mined for zinc-copper-gold massive sulphide deposits. Grades of 45.7% Zn, 3.89% Cu and ~4g/t Au have been obtained.

Puray - 2000tn of ore at better than 10% Cu mined previously. Estimated 8Mt of copper ore grading at least 0.7%, with a possible additional 28Mt at similar grade.

Worldwide - was the subject of copper-gold-molybdenum exploration in the 1970's. The Company is currently obtaining and collating historical data.

Capaz - hand panners have recovered nuggets and dust since 1987, and the area has the potential for a shallow gold resource.

Geographical Spread

The Philippines

Board of Directors and Key Management

CEO	Jonathan Beardsworth
Chairman	Steven Smith
Executive Director & Chief Geologist	Gary Powell
Non Executive Director	Jonathan Pearson
Chief Operating Officer Philippines	Peter Draper

Company Address

Portland House
London, United Kingdom W1W 8QJ


Telephone:	0044(0) 207 927 6690
Facsimile:	0044(0) 207 927 6689
Email:	info[at]metalsexploration.com
Website:	http://www.metalsexploration.com

Additional Address/Key Contact

Philippines Office (Manila)
Tel: 0063(0)2 892 7107
Fax: 0063(0)2 816 2351

Annual General Meeting

April

Year End

30th September

Nominated Brokers

Collins Stewart UK,
88 Wood Street,
London,
EC2V 7QR

Nominated Advisors

Collins Stewart UK,
88 Wood Street,
London,
EC2V 7QR

Broker/Analyst Reports

04/03/08 - Collins Stewart
02/11/07 - Collins Stewart
02/11/07 - Hardman & Co.
14/08/07 - Collins Stewart
23/04/07 - Hardman & Co: A Golden Opportunity - 23.04.2007
30/03/07 - Collins Stewart: Smaller Companies Daily Update - 30.03.2007

Major Shareholders

Our major shareholders include:

Allianz Cornhill,

Williams de Broe

Baker Steel Capital

AXA Framlington

Majedie Asset Management.

Most Recent Statement

05/06/08 - Grant of Additional Exploration Permits
16/05/08 - METALS EXPLORATION PLC PLACING
28/04/08 - Results of AGM
15/04/08 - Results of Concept Study
08/04/08 - 90% Gold Recoveries from Latest Metallurgical Testwork Molybdenum Results Encouraging
28/03/08 - Final Results for the year ended 30 September 2007

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