Drilling Results

Metals Exploration PLC
07 August 2006


                            METALS EXPLORATION PLC

   DRILLING RESULTS CONTINUES TO EXPAND THE RESOURCE SIZE POTENTIAL - RUNRUNO
                                   PROJECT



The Board of Metals Exploration PLC ('the Company') is pleased to announce that
recent drill results have been received for drill holes MXD26 to MXD31 of the
current diamond drilling programme being undertaken at its Runruno Project.

The current diamond drilling programme is continually producing excellent
results and the Company is well on track with reaching its target of defining a
resource containing in excess of 3 million ounces of contained gold and 50
million pounds of contained molybdenum.

RUNRUNO - DRILL RESULTS

The table below summarises the key results returned to date from the Company's
drilling program since the previous RNS announcement dated :


 Drill-hole    Collar Coordinates 1     Intercept 2 (metres)         Au         Mo
  Number 1        mE          mN       From      to      Width      g/t          %
MXD26               21383      15562    35.40    43.00      7.60       2.88       0.051
                                        49.00    51.20      2.20       1.18       0.018
                                        54.90    56.25      1.35       4.82       0.007
                              total combined intercept     11.15       2.78       0.041
MXD27               21383      15562    35.00    40.00      5.00       2.05       0.043
                                        45.00    51.00      6.00       1.64       0.048
                              total combined intercept     11.00       1.83       0.046
MXD28               21378      15170    32.00    42.00     10.00       3.81       0.065
                                        47.00    54.10      7.10       3.15       0.033
                                        57.00    60.00      3.00       1.95       0.056
                                       131.00   132.00      1.00       7.54       0.109
                              total combined intercept     21.10       3.50       0.055
MXD29               21314      14947    64.15    68.50      4.35       1.89       0.095
MXD30               21540      15434    79.00    82.00      3.00       2.63       0.023



Notes:

1. Collar Coordinates are the coordinates of the collar of the drill-holes. The
drill-holes are inclined -70degrees from horizontal (except hole MXD27 which is
inclined at -55degrees from horizontal), and orientated towards a grid azimuth
of 100degrees (easterly). In general, the drill-holes are spaced on a 100 metres
grid pattern.

2. Reporting of the above 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 (i.e. >5.0g/t Au). No high grade cut-off has been applied to the
individual gold or molybdenum assays.

Hole MXD26 intersected one of the high-grade miners' tunnels and was therefore
terminated prematurely at 65 metre depth. Drillhole MXD27 was then drilled from
the same position but inclined at a shallower angle to intersect the same area
as the tunnel and to continue onwards to its final depth of 150 metres.

Importantly, it should be noted that these holes were drilled in an area that is
interpreted to be faulted, with the main fault being the Malilibeg Fault, a
moderately west-dipping extensional fault. The fault is interpreted to obliquely
cut across the mineralised zone, therefore it is possible that the mineralised
zone adjacent to the fault will have been offset.

All of the previously reported holes (MXD1-MXD25, RUD001 & RUD004) were drilled
to the west of the Malilibeg Fault. Drill-holes MXD29 and MXD30 were drilled
more or less through this fault zone. As a result, it is thought that the holes
were collared in the western, down-thrown block and consequently did not
intersect the majority of the mineralised zone in that fault block. The holes
continued eastwards through the fault and intersected the eastern block, beneath
the footwall of the mineralised zone. Although the holes intersected some minor
mineralisation, the main zone was not intersected.

Drill-hole MXD31 was the first hole to be collared in the eastern side of the
fault, and is located 400 metres from the nearest hole. It was an exploratory '
wildcat' hole to determine the stratigraphy and potential for mineralisation.
Although the alteration and geology looked promising, the mineralisation was not
significant in terms of assay results.

Drillhole MXD38 has just been completed, and the Company anticipates that the
results for the outstanding drill-holes will be received within 2 weeks time.

RUNRUNO - RECONNAISSANCE MAPPING

The Company has also been carrying out some reconnaissance mapping in the area
to the northeast of the drilling area, and several outcrops of the main
lithologies hosting the mineralisation have been observed. This is considered to
be very encouraging, providing excellent potential for the discovery of
additional mineralisation to the north and east of the current drilling
programme.

RUNRUNO - METALLURGY

The Company has just engaged the services of a consultant metallurgist to
commence a metallurgical testwork programme with the aim of determining the
various recovery parameters for gold, silver and molybdenum, for a variety of
processing and metal extraction options, such as gravity, cyanide leach and
flotation. This programme is expected to be completed and results received in
about 8 weeks time

METALS EXPLORATION - WEBSITE

The Company is currently re-building it website, which will include more
detailed information on its projects, particularly the Runruno Project. The
information will include plans, photographs and so forth. The current website
contains a presentation that was recently shown to various investors and broking
houses. To view this presentation, please copy and paste the following link into
your browser:

http://www.metalsexploration.com/pdf/06-20-2006/Metals Exploration plc -
Investor Presentation - 20 May 2006.pdf

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 (75 microns). 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 + 63 (0) 917 560 6654
Jonathan Guy - Collins Stewart               + 44 (0) 7523 8417





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