Exercise of Warrants

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

                        EXERCISE OF WARRANTS

Metals Exploration announces that it  has issued and allotted  40,750
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 Alternative Investment Market ("AIM") of London  Stock
Exchange plc. Admission  of the  new ordinary shares  is expected  to
occur on 20th June 2007.

Following the exercise, the  Company's issued share capital  consists
of 77,926, 377 shares, each with  one voting right per share.   There
are no shares held in treasury.

The total  number  of  voting  rights in  the  Company  is  therefore
77,926,377.

The above figure  of 77,926,377 may  be used by  shareholders as  the
denominator for the calculations by which they will determine if they
are required  to notify  their  interest in,  or  a change  to  their
interest in,  the  Company,  under the  Disclosure  and  Transparency
Rules.

15 June 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
Chris Rollason     Tel:   [phone]
                   Email: [e-mail]

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