Issue of Shares and Warrants

Metals Exploration PLC
10 August 2005


FOR IMMEDIATE RELEASE                           10 August 2005



                     METALS EXPLORATION PLC (the 'Company')
                          ISSUE OF SHARES AND WARRANTS


The Board of Metals Exploration Plc (the 'Board') announces that pursuant to the
acceptance of subscriptions for shares by East West Drilling (L) Limited ('EWD')
described in the announcements of the Runruno Project and the Puray Project on 2
February 2005 and 28 June 2005 respectively (the 'Announcements'), the Company
has issued 3,000,000 new Ordinary Shares of 1p each, which will represent 10.01
per cent of the Company's enlarged issued share capital.


Application will be made to the London Stock Exchange for the 3,000,000 new
Ordinary Shares in the Company to be  admitted to trading on AIM. It is expected
that Admission will become effective and that trading in the new Ordinary 
Shares on AIM will commence on 16 August 2005


The Board also announces that pursuant to the commission arrangements with EWD
described in the Announcements, the  Company has issued a warrant to subscribe
for 4,000,000 ordinary shares at 3.25p per share.





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