Acquisition of Mining Project

Metals Exploration PLC
18 February 2005



FOR IMMEDIATE RELEASE                                        18 FEBRUARY 2005

                             METALS EXPLORATION Plc

  INITIAL SAMPLING AT JACLUPAN PROSPECT IDENTIFIED SIGNIFICANT GOLD AND COPPER
                                 MINERALIZATION

The Board of Metals Exploration is pleased to announce the acquisition of the
Jaclupan Project on the Island of Cebu in Central Visaya's Philippines.

Metals Exploration has signed a Memorandum Of Understanding (MOU) with Metex
Mineral Resources Corporation, a Philippine registered company. The MOU grants
Metals Exploration the exclusive rights to acquire 100% of the Jaclupan 
Project, comprising one Exploration Permit Application (EPA).

The Jaclupan Project is located within 5 kilometers of the large open-cast and
underground copper-gold mines of Atlas Consolidated Mines & Development
Corporation (pre-mining reserve of 1 billion tonnes grading 0.46% Cu and 
0.25 g/t Au).

The Jaclupan Project is an Exploration Permit Application covering 3,321
hectares. Preparation will commence immediately for defining targets for
drilling, which is allowed once the Exploration Permit has been granted.

Occurrences of gold and copper mineralization have been identified in four
localities in Barangays Bantoon, Manduang, Kuanos and Kanluntao. These 
prospects are potentially related to regional structures which are interpreted 
as being within the periphery of a porphyry intrusive(s).

The first reported reconnaissance survey of the project area was carried out
during 1997. Thirty four (34) rock chip samples obtained from the surface
returned results ranging up to 83.03 g/t Au, with best results of 19.05 g/t Au,
23.0 g/t Au, 30.37 g/t Au, 44.80 g/t Au, 53.8 g/t Au and 83.03 g/t Au.
Similarly, encouraging results for copper were obtained ranging up to 2.5% Cu,
with best results of 2.3% Cu, 2.4% Cu and 2.5% Cu. The samples were taken from
highly altered, hematite/limonite-rich, chalcopyrite-bearing intrusive 
andesitic volcanics with local malachite stains in fractures.

Previous exploration work at Jaclupan confirms the presence of copper-gold
mineralization containing significant, near-surface high-grade gold+copper
mineralization. Metals Exploration presently has a team of geologists carrying
out reconnaissance activities within the area and the project will be a 
priority target for follow-up exploration and possibly drilling in 2005.

The Jaclupan Project was introduced to the Company by East West Drilling (L)
Limited ('EWD') pursuant to an arrangement agreed in December 2004 whereby EWD
agreed to use reasonable endeavours to introduce potential projects to the
Company.  The fee payable to EWD, as reported in the Company's announcement 
of 2 February 2005, is a success fee of £45,000 and the issue of a warrant to
subscribe for 2,000,000 Ordinary Shares at 3.25p per share. It was also agreed
that EWD would utilise the success fee in subscribing for 1,500,000 Ordinary
Shares at 3p per share.


Contact: Steven Smith, Chairman                                 07797 721 858
Jonathan Anderson, Investor Relations                           07950 410 680
                                                          0063 (0) 9175606654




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