Exercise of Warrants

Metals Exploration PLC ("Metals Exploration" or the "Company)

                        Exercise of Warrants

25 October 2007

Metals Exploration announces that it has issued and allotted  200,000
new ordinary shares of 1p each at a price of 8 pence per share  ("New
Ordinary Shares"),  pursuant  to an  exercise  of warrants.  The  New
Ordinary Shares  will  rank pari  passu  with the  existing  ordinary
shares of 1p each in the Company.

Application has been made for the New Ordinary Shares to be  admitted
to trading on AIM. Admission of  the New Ordinary Shares is  expected
to occur on 30 October 2007.

Following the issue of the  New Ordinary Shares, the Company's  total
issued share  capital with  voting rights  and which  is admitted  to
trading on AIM will consist of 91,573,795 ordinary shares of 1p each,
with one voting right per share.

Further information, please contact:


Metals Exploration             Tel: [phone]
Jonathan Beardsworth

Collins Stewart Europe Limited Tel: [phone]
Adrian Hadden / Oliver Quarmby

Pelham PR                      Tel: [phone]
Charles Vivian


ENDS

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