Drilling Results - Runruno

Metals Exploration PLC
31 March 2006

                             METALS EXPLORATION PLC

 ENCOURAGING DRILL HOLE ASSAY RESULTS EXPANDS THE RESOURCE POTENTIAL - RUNRUNO
                                    PROJECT

29 March 2006

The Board of Metals Exploration PLC ('the Company') is pleased to announce that
results have been received for drill holes MXD9 to MXD14 of the current diamond
drilling programme being undertaken at its Runruno Project.

RUNRUNO - DRILL RESULTS

For a map of the Runruno Project please copy and paste the following link into
your browser: 

http://www.rns-pdf.londonstockexchange.com/rns/7047a_-2006-3-30.pdf  

The Company continues to receive encouraging results from the drilling programme
at Runruno. The table below summarises the key results returned to date from the
Company's drilling program since November 2005, including the 2 Greenwater drill
holes completed in 2000-2001:

 Drill-hole       Collar         Intercept (metres)        Au        Mo      Au_eq 3
               Coordinates 2
  Number 1      mE       mN     From     to     Width     g/t         %        g/t
RUD-001       21204    14753        44      48       4       2.71     0.032      3.62
                                    54      56       2       1.09     0.046      2.41
                                    60      66       6       3.83     0.291     12.22
                                    88      92       4       1.25     0.007      1.44
                                   104     108       4       1.23     0.012      1.56
                                   132     136       4       1.93     0.114      5.21
                                   140     152      12       2.06     0.043      3.30
                    total combined intercept 4      36       2.18     0.084      4.59
RUD-004       21293    15134         4      14      10       3.91     0.025      4.62
                                    28      36       8       4.45     0.041      5.62
                                    72      90      18       2.48     0.099      5.33
                                    94     102       8       2.07     0.053      3.58
                    total combined intercept 4      44       3.09     0.063      4.90
MXD1          21219    15084        38      40       2       1.82     0.068      3.78
                                    42      50       8       4.00     0.059      5.70
                                   107     110       3       2.57     0.041      3.75
                                   116     120       4       1.44     0.002      1.50
                                   122     135      13       1.68     0.039      2.80
                    total combined intercept 4      30       2.37     0.038      3.46
MXD2          21318    15272        72      80       8       1.86     0.079      4.13
MXD3          21219    15084        37      40       3       2.20     0.044      3.47
                                    45      46       1       1.54     0.018      2.06
                                    47      53       6       3.31     0.045      4.60
                    total combined intercept 4      10       2.80     0.042      4.01
MXD4          21361    15453        39      40       1       1.30     0.105      4.32
                                    88      90       2       2.32     0.024      3.01
                                    92      98       6       1.98     0.012      2.33
                    total combined intercept 4       9       1.98     0.025      2.70
MXD5          21279    15187        37      40       3       2.33     0.027      3.11
                                    84      95      11       4.33     0.079      6.60
                    total combined intercept 4      14       3.90     0.068      5.86
MXD6          21295    15383       114     116       2       2.07     0.012      2.42
                                   120     125       5       1.39     0.026      2.14
                                   156     166      10       2.05     0.026      2.80
                    total combined intercept 4      17       1.86     0.024      2.55
MXD7          21205    14988       116     121       5       2.64     0.083      5.03
                                   123     125       2       1.86     0.111      5.05
                                   131     135       4       2.09     0.164      6.81
                                   148     156       8       2.36     0.045      3.65
                    total combined intercept 4      19       2.32     0.087      4.82
MXD8          21261    15478        83      88       5       2.93     0.029      3.76
                                   112     119       7       6.62     0.044      7.89
                                   138     148      10       2.29     0.098      5.11
                    total combined intercept 4      22       3.81     0.065      5.68
MXD9          21192    15409        77      85       8       1.91     0.052      3.41
MXD10         21098    15200        93      97       4       1.08     0.011      1.40
MXD11         21019    15117        33      38       5       5.03     0.087      7.53
MXD12         10992    15052       100     103       3       2.60     0.019      3.15
MXD13         21182    14813      65.4      70     4.6       2.31     0.163      7.00
                                    77      83       6       3.80     0.401     15.34
                                   130     138       6       3.00     0.057      4.64
                                 146.1     154     7.9       2.20     0.075      4.36
                                   162   165.2     3.2       1.00     0.118      4.40
                    total combined intercept 4    27.7       2.60     0.161      7.24
MXD14         20985    15345        60      68       8       0.61     0.081      2.94


Notes:

1.        Drillholes prefixed with RUD were drilled by Greenwater during
2000-2001. Drillholes prefixed with MXD were drilled by the MetalsEx since
November 2005.

2.        Collar Coordinates are the coordinates of the collar of the
drillholes. The drillholes are inclined -60degrees from horizontal, excepting
MXD3 (-70degrees), and orientated towards a grid azimuth of 100degrees
(easterly). In general the drillholes are spaced 100 metres apart.

3.        Au_eq 'gold equivalent grade' represents an arithmetic calculation of
the value in US$ of the contained metal per tonne using the current metal prices
(as at 27 March 2006) of US$560/oz gold and US$23.5/lb molybdenum. Metal prices
sourced from the following websites: www.kitco.com and www.adanacmoly.com.

4.        Given the limited nature of exploration activities to date, no
assurance or implication is being given, or should be assumed to be being given,
by the inclusion of these values in this report that the Runruno Project has
been, or will in the future be, deemed to be economic.

5.        Reporting of the above composited intercepts was determined by
applying an upper and lower boundary defined by a low grade cut-off of 0.7g/t
Au. Some composited intercepts include single metre, internal intercept grades
of less than 0.7g/t Au. Isolated single metre intercepts are not reported unless
considered to be significant. No high grade cut-off has been applied to the
individual gold or molybdenum assays.



The results appear to show a variation in the gold:molybdenum ratio within the
area being drilled. The molybdenum grades appear to be increasing with depth.

So far the results have been obtained from drilling on a 100m x 100-200m grid
spacing over a surface area of approximately 1000 metres x 700 metres. The
mineralised zones still appears to be approximately 100 metres thick with higher
grade zones at the hangingwall and footwall positions within the zone. This area
encompasses the southern-most portion of the area previously drilled by Fil-Am
during the 1970s, upon which their resource calculation was based.

The Company is currently about to extend the drilling area uphill to the east
and to the north

RUNRUNO - SAMPLING & ANALYSIS

Sample Preparation

The drill core is taken from the drill site to a secure compound at the
Company's field camp and is logged by the geologist. The drill core is then
split into two equal halves along its long axis, with one half being sampled at
predetermined intervals, bagged and sent for analysis. The remaining half-core
is retained in core boxes and stored on site for future reference.

The bagged half-core samples are being submitted to an independent 'ISO17025
accredited' laboratory for sample preparation and analyses for gold and
molybdenum. All of the half-core samples are crushed by the laboratory and a
900-1000 gram split is taken, pulverized and presented for analysis.

The remaining crushed sample is retained in bags and stored at the laboratory
for a period of three months before being returned to the Company for storage.
These remaining crushed samples will be used in the future for additional
analyses for gold, molybdenum, silver, sulphur and other elements as deemed
necessary, for example, for resource estimation work.

Analytical Techniques

Gold:                 Gold analysis is by classical 'Screen Fire Assay'
technique that involves sieving a 900-1000 gram sample to 200 mesh (75microns).
The entire oversize and duplicate undersize fractions are fire assayed and the
weighted average gold grade calculated. This is one of the most appropriate
methods for determining gold content if there is a 'coarse gold' component to
the mineralisation.

Molybdenum:    The sample is dissolved in Aqua Regia (3:1 HCl:HNO3) and
Molybdenum analysis is carried out by Inductively Coupled Plasma - Optical
Emission Spectrometry (ICP-OES) method.

EXPLANATION OF TERMS

Au              chemical symbol for gold
Mo              chemical symbol for molybdenum
HCl             chemical symbol for Hydrochloric Acid
HNO3            chemical symbol for Nitric Acid
g               gram
t               tonne
g/t             grams per tonne, which is equivalent to parts per million (g/t
                Au = grams of gold per tonne)
%               percent (0.034% Mo = 340 parts per million of molybdenum)
lb              avoirdupois pound (= 453.59237 grams)
oz              troy ounce (= 31.103477 grams)
micron          A unit of length equal to one thousandth of a millimetre or one
                millionth of a metre.
200 mesh        the number of openings (200) in one linear inch of screen mesh 
                (200 mesh approximately equals 75 microns)



QUALIFIED PERSON

Gary Powell (a Director of the Company) has been involved in the mining and
exploration industry for more than 20 years. He has a Bachelor of Applied
Science degree in geology and is a member of the Australasian Institute of
Mining and Metallurgy and the Australasian Institute of Geoscientists. He has
compiled, read and approved the technical disclosure in this regulatory
announcement.

ENQUIRIES:

Steven Smith - Chairman:                            + 44 (0) 7797 721 858

Jonathan Anderson - Investor Relations:             + 44 (0) 7950 410 680  or
                                                    [phone]

Philip Haydn-Slater - WH Ireland Limited:           + 44 (0) 2072 201 666


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