Company Information for Metals Exploration Plc

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Company Statement

Metals Exploration's primary objective is to increase shareholder value through the discovery and development of high value mineral resources within Southeast Asia, with particular emphasis on the Philippines.

Since acquiring our flagship Runruno project in 2005 a JORC compliant resource of 2.1 million ounces (Moz) of gold, and 36.6 million pounds (Mlb) of molybdenum has been defined, with 775,000 oz of gold and 18 Mlb of molybdenum within the Indicated category.

Having completed a Concept Study in April this year, the Company is now focusing on a Scoping Study to advance Runruno towards the Full Feasibility stage, targeting production of between 190,000 – 210,00oz per year.

An ongoing strategy of reviewing opportunities as they arise will allow Metals Exploration to add to it’s existing projects and resource base where appropriate.

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.

Exploration licences were recently granted 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.  

Other Projects in the Company’s portfolio are covered by Exploration Permit applications

Geographical Spread

The Philippines and Indonesia (inset)

Board of Directors and Key Management

CEO	Jonathan Beardsworth
Executive Chairman	Ian Holzberger
Finance Director	Tim Wheeler
Executive Director & Chief Geologist	Gary Powell
Non Executive Director	Jonathan Pearson
Chief Operating Officer Philippines	Peter Draper

Company Address Portland House London, London, United Kingdom W1W 8QJ Telephone: 0044(0) 207 927 6689 Facsimile: 0044(0) 207 927 6698 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

Capital For current share price see Metals Exploration website. Undiluted: 112,133,795 Fully diluted: 132,508,795

Annual General Meeting April

Year End 30th September

Nominated Brokers Hanson Westhouse 12th Floor One Angel Court London EC2R 7HJ Tel: +44 (0) 20 7601 6100

Nominated Advisors Hanson Westhouse 12th Floor One Angel Court London EC2R 7HJ Tel: +44 (0) 20 7601 6100

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.

Related News

16/04/08 - Metals Exploration Can Go At Runruno Without The Moly, But Would Rather Keep It In
05/07/07 - Metals Exploration Expects Pre-Feasibility Study On Runruno Shortly
24/11/06 - Metals Exploration Feels The Market Has Overlooked The Potential Of Its Molybdenum Resource

Most Recent Statement

15/07/08 - Runruno Scoping Study - Update
09/07/08 - Appointment of Chairman & Finance Director
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