Latest Metallurgical Results

Metals Exploration PLC
08 April 2008



                              Metals Exploration PLC

             90% Gold Recoveries from Latest Metallurgical Testwork
                         Molybdenum Results Encouraging



8 April 2008

Metals Exploration PLC ('Metals Ex' or 'the Company') (AIM: MTL), the natural
resources exploration and development company with assets in the Pacific Rim
region, is pleased to announce encouraging results from the metallurgical
testwork currently being carried out on composite samples representing
mineralisation from the transition and new zones in its 100% controlled Runruno
gold-molybdenum deposit in the Philippines.


Highlights:

  • Two alternative gold recovery circuits identified - pressure oxidation and
    BIOX(R).
  • Results from metallurgical testwork completed to date indicate average
    gold recoveries of 90 to 92% can be expected from either circuit.
  • Both test circuits also reported high molybdenum solubilisation,
    indicating a possible hydrometallurgical recovery route which will be
    further tested.

Testwork has been conducted on the Company's behalf by specialist laboratories
in Australia (Metcon Laboratories, Burnie Research Laboratory, and Ammtec) and
South Africa (SGS Lakefield Research, Africa, under the supervision of Gold
Fields Mining Services in South Africa).


Gold Recoveries

Metals Ex is pleased to announce that sufficient metallurgical testing has been
completed on the Runruno mineralisation to identify two alternative gold
recovery circuits suitable for treating the Runruno mineralisation.

On the basis of the testwork undertaken on the different styles of
mineralisation, gold recovery from the project can be expected to average
between 90 to 92% from either a pressure oxidation (POX) or a BIOX(R) circuit.
Both circuits are based on proven technology for the recovery of gold from
refractory ores including: gravity, flotation, oxidation of the flotation
concentrate, and cyanidation - carbon in leach to recover the gold.  The
circuits differ only in the oxidation step where both POX and BIOX(R)
technologies have been shown to be equally applicable.

The likely capital and operating costs of the alternative circuits will now be
estimated and compared as part of the Runruno Scoping Study programme to aid in
the selection of the preferred circuit.  The preferred circuit will then provide
the basis for all ongoing processing circuit design work.  Once the processing
route is finalised, further testwork will be conducted to optimise the gold
recovery and capital and operating cost regimes.


Molybdenum Recovery

Testwork for the recovery of a molybdenum product from the Runruno ores is
ongoing.  Recent BIOX(R) and POX testwork both reported high molybdenum
solubilisation, indicating a possible hydrometallurgical recovery route which
will now be exhaustively tested.


Jonathan Beardsworth, Chief Executive of Metals Ex, comments:

'We are delighted to have such strong results from our testwork to recover gold
from the Runruno mineralisation.  The confirmation of the application of either
pressure oxidation or the BIOX(R) process allows us the opportunity to optimise
the processing circuit from a capital and operating cost perspective.

'Resolution of the gold processing circuit will now allow us to proceed apace on
our Scoping Study work, initially assessing the Runruno project as a standalone
gold development project.  In addition, it appears from the testwork that a
molybdenum recovery circuit could be added to the project without interfering
with the gold recovery circuit.  The molybdenum results are a significant boost
to our efforts to unlock value from the contained molybdenum.'




For more information:

Jonathan Beardsworth                                 + 44 (0) 20 7927 6690
CEO, Metals Ex                                       + 44 (0) 7747 101 552

Tim Feather / Matthew Johnson

                                                     + 44 (0) 113 246 2610
Hanson Westhouse Limited

Charles Vivian                                       + 44 (0) 20 7743 6672
Pelham Public Relations

Klara Kaczmarek                                      + 44 (0) 20 3159 4395
Pelham Public Relations



QUALIFIED/COMPETENT PERSONS

Gary Powell (a Director of the Company) has been involved in the mining and
exploration industry for more than 23 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.




                      This information is provided by RNS
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