Exercise of Warrants

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

                        EXERCISE OF WARRANTS

Metals Exploration announces that it has issued and allotted  933,591
new Ordinary Shares  of 1p each  at a  price of 20  pence per  share,
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  ordinary shares to be admitted  to
trading on the AIM Market ("AIM")  of the London Stock Exchange  plc.
Admission of  the new  ordinary shares  is expected  to occur  on  11
September 2007.

5 September 2007

For further information, please contact:


Metals Exploration
Jonathan Anderson  Tel:   [phone]
                   Email: [e-mail]
Pelham PR
Charles Vivian     Tel:   [phone]
                   Email: [e-mail]
Candice Sgroi      Tel:   [phone]
                   Email: [e-mail]
Collins Stewart
Adrian Hadden      Tel:   [phone]
                   Email: [e-mail]

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