Exploration Update

Metals Exploration PLC
30 March 2007

                             METALS EXPLORATION PLC



DRILLING IN THE NORTHERN SECTOR OF THE RUNRUNO RESOURCE RETURNS HIGHER GRADE
MINERALISATION IN A NEWLY RECOGNISED STRUCTURE



*  EXPLORATION PERMIT APPLICATIONS LODGED OVER THREE PROPERTIES

    IN LUZON, PHILIPPINES



30 March 2007



The Board of Metals Exploration PLC ('the Company') is pleased to announce that
the Company received encouraging assay results from a drill hole in the
northern-most part of the Runruno gold-molybdenum deposit.



The Company has also lodged three Applications for Exploration Permits ('EPA')
with the Regional offices of the Mines & Geosciences Bureau ('MGB') in Northern
Luzon, Philippines. The three properties, namely Dupax, Sulong and Capas all
comprise gold +/- copper-zinc mineralisation identified by previous explorers,
and offer the potential for the delineation of  economically viable deposits of
gold and/or base metals.





RUNRUNO PROJECT



Drill hole MXD055 was drilled in the northern part of the 2 million ounce
resource area to test for vertical structures identified towards the end of last
year in field mapping.



The key gold results from drill hole MXD055 are summarised below:



Drill-hole               Intercept (metres)                     Au
ID                       From         to           Width        g/t

MXD055                   0.00         2.10         2.10         1.96
                         3.00         4.00         1.00         8.10
                         7.00         13.50        6.50         1.49
                         18.10        20.50        2.40         1.40
                         21.15        24.50        3.35         1.21
                         83.30        84.30        1.00         4.81
                         86.20        91.30        5.10         9.05



total combined intercept = 21.45 metres @ 3.74g/t gold



 Notes:
      1.    Drillholes prefixed with MXD consist of diamond drill core with a minimum core diameter size of HQ3
            (61mm).
      2.    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
            assays.
      3.    Molybdenum assays are pending for this drill hole.



The mineralisation encountered in the drill hole is considered to be significant
in that it indicates that there is more than one structure within the northern
part of the deposit hosting gold-molybdenum mineralisation. These results help
to ratify the Company's geological model and enhance the potential for similar
mineralisation elsewhere in the Runruno project area.





EXPLORATION PERMIT APPLICATIONS


DUPAX EPA


The Dupax EPA comprises two separate blocks - Dupax (5,042 hectares) and Solano
(3,814 hectares) - totaling some 8,856 hectares in area. The EPA is located in
Nueva Vizcaya Province, some 200km north of Manila.



The Dupax block contains a previously identified and partially open pit mined
zinc-copper-gold massive sulphide deposit. The deposit occurs as a massive
sulphide body in agglomerate and disseminated sulphide in silicified sediments,
predominantly underlain by marine clastics intercalated with pillow basalts and
pyroclastics. This package is intruded by dikes and sills of intermediate to
basic composition.



Major structures strike northwest and grossly conform to the trend of the
mineralized zones. Principal ore minerals are sphalerite, chalcopyrite,
tennantite and secondary covellite. The best grades obtained from sampling of
the outcrop are 45.7% zinc, 3.89% copper and 4g/t gold.



Previous work focused on defining a restricted lens of high-grade, direct
shipping massive sulphide zinc-copper ore which was partially mined out by open
pit methods (ca 1960/70s). Previous production records are currently unknown.



Gossans and manganese mineralisation occurs along strike of the main fault
structure and show potential for additional massive sulphide deposits in the
area. Geological logs of tunnels excavated during the 1960s(?) describe a
weathered and oxidized profile of 12 meters thickness, which would make surface
prospecting for massive sulphides more difficult. Gossanous material at surface
is the best indicator of sulphide mineralisation at depth.



The Dupax block is a poorly explored area which hosts economic grades of massive
sulphide Zinc-Copper-Gold mineralization. There appears to be an obvious
structural control on the mineralization.



Little is known about the Solano block.



Once the EPA has been granted, the Company intends to carry out detailed
geological mapping, soil geochemistry, followed by geophysical surveys to
determine favourable areas for drill testing.


SULONG EPA


The Sulong EPA covers some 6,963 hectares in area and is situated to the east of
Solano, Nueva Vizcaya Province, approximately 220km north of Manila.



The area has previously been mined for manganese (ca 1970s) which, is
interpreted as being the oxidised portion of an extensive vein-fault system,
although there is little evidence of shipment of manganese ore.



During the early 1990s Climax conducted a regional geochemistry survey of the
district, including the Sulong area.



During the late 1990s, Placer Pacific Exploration Phils., Inc. (a subsidiary of
Placer Dome), carried out stream sediment geochemistry and rock sampling of the
Sulong area. Sampling of outcrop within the EPA area returned assay grades up to
0.64g/t gold.



The Company believes that the area comprises a large gold-bearing vein-fault
system and potential for porphyry copper mineralisation. Once the EPA has been
granted, the Company intends to carry out detailed geological mapping, soil
geochemistry and geophysical surveys to determine favourable areas for drill
testing.


CAPAS EPA



The Capas EPA covers some 3,564 hectares in area and is situated approximately
20km southwest of Tarlac City, Tarlac Province, some 100km northwest of Manila.



The Capas EPA area had been investigated by several explorers since 1987 when an
alluvial panning 'Gold Rush' saw approximately 2,000 hand panners working in the
area recovering alluvial nuggets and gold dust. It has been estimated that
approximately 30 kilos of gold was realized from this small scale hand mining.



In 1987, West Gold Exploration Inc. ('WGE') conducted a geochemical sampling
program over the area consisting of pan concentrate sampling of the various
drainages in the area. A large area of anomalous gold values was delineated on
the property.



In 1988-89, BHP Engineering ('BHPE') carried out an exploration program
consisting of surface geological mapping, soil, float and outcrop sampling,
tunneling and channel sampling, resulting in the identification of a prospective
target area known locally as the Manganese Area. This area contains significant
surface alteration and anomalous gold values.



In 1990, BHPE carried out a program of diamond core drilling in the Manganese
Area. Four vertical diamond drill holes, DDH-1 to DDH-4, were completed for a
total of 300 metres.



In 1993, WGE undertook shallow surface drilling (up to 3 meters depth) east of
the Manganese Area to test the extent of the gold anomaly identified in
drill-hole DDH-4. A surface area of 25 metres by 100 metres was defined with
anomalous gold grades.



The area is underlain by three distinct volcano-sedimentary units namely:
basalt, argillite and lithic tuff; indurated tuffaceous sediments, and younger
largely undeformed sediments. These units are intruded by a number of quartz
diorite bodies.



Gold mineralization is hosted by weakly altered andesite and DDH-4 intersected
gold mineralisation averaging >1g/t gold over 20 metres starting from 4 metres
below surface.

The Company believes that the property has the potential for the delineation of
a shallow gold resource, which may be amenable to heap-leaching.



Once the EPA has been granted, the Company intends to carry out detailed mapping
of structures in the Manganese Area to determine structural controls to the
mineralization at Capas. A programme of shallow RC drilling will then be planned
to identify a shallow gold resource which may be amenable to heap leaching.





QUALIFIED/COMPETENT PERSONS



Gary Powell (a Director of the Company) has been involved in the mining and
exploration industry for more than 24 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.



The information in the report to which this statement is attached that relates
to Exploration Results, Mineral Resources or Ore Reserves is based on
information compiled by Mr Brian Lueck, who is a Member of the Association of
Professional Engineers and Geoscientists of British Columbia, Canada. Mr. Brian
Lueck is employed as a technical consultant to the Company and has sufficient
experience which is relevant to the style of mineralisation and type of deposit
under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC
Code). Mr. Brian Lueck consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.



NEWLY DESIGNED WEBSITE



A newly designed website is now up and running for the Company at:



www.metalsexploration.com





ENQUIRIES:


Jonathan Beardsworth, CEO Metals Exploration                                           [phone]
Jonathan Anderson, Investor Relations                                                   [phone]
Adrian Hadden , Collins Stewart Europe Limited                                         [phone]
Simon Rothschild, Marc Cohen, Bankside Consultants                                     [phone]






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