Notification of Interest

15 June 2007

                       METALS EXPLORATION PLC


+-------------------------------------------------------------------------------------------+
|TR-1: Notifications of Major Interests in Shares                                           |
|-------------------------------------------------------------------------------------------|
|                                               |                                           |
|-----------------------------------------------+-------------------------------------------|
|1. Identity of the issuer or the underlying    |                                           |
|issuer of existing shares to which voting      |           METALS EXLORATION PLC           |
|rights are attached:                           |                                           |
|-------------------------------------------------------------------------------------------|
|2. Reason for notification (please tick the appropriate box or boxes)                      |
|-------------------------------------------------------------------------------------------|
|An acquisition or disposal of voting rights                                      |    X    |
|---------------------------------------------------------------------------------+---------|
|An acquisition or disposal of financial instruments which may result in the      |         |
|acquisition of shares already issued to which voting rights are attached         |         |
|---------------------------------------------------------------------------------+---------|
|An event changing the breakdown of voting rights                                 |         |
|---------------------------------------------------------------------------------+---------|
|Other (please specify):                                                          |         |
|-------------------------------------------------------------------------------------------|
|3. Full name of person(s) subject to           |         Cantor Fitzgerald Europe          |
|notification obligation:                       |                                           |
|-----------------------------------------------+-------------------------------------------|
|4. Full name of shareholder(s) (if different   |                    N/A                    |
|from 3):                                       |                                           |
|-----------------------------------------------+-------------------------------------------|
|5. Date of transaction (and date on which the  |                 14/05/07                  |
|threshold is crossed or reached if different): |                                           |
|-----------------------------------------------+-------------------------------------------|
|6. Date on which issuer notified:              |                 15/05/07                  |
|-----------------------------------------------+-------------------------------------------|
|7. Threshold(s) that is/are crossed or reached:|                    6%                     |
|-------------------------------------------------------------------------------------------|
|8. Notified Details                                                                        |
|-------------------------------------------------------------------------------------------|
|A: Voting rights attached to shares                                                        |
|-------------------------------------------------------------------------------------------|
|Class/type of  |Situation previous to |Resulting situation after the triggering transaction|
|shares         |the triggering        |                                                    |
|If possible use|transaction           |                                                    |
|ISIN code      |                      |                                                    |
|---------------+----------------------+----------------------------------------------------|
|               |Number of  |Number of |Number of |Number of voting     |% of voting rights |
|               |Shares     |voting    |shares    |shares               |                   |
|               |           |rights    |          |                     |                   |
|---------------+-----------+----------+----------+---------------------+-------------------|
|               |           |          |Direct    |Direct     |Indirect |Direct   |Indirect |
|---------------+-----------+----------+----------+-----------+---------+---------+---------|
|               |           |          |          |           |         |         |         |
|Ordinary       |4,667,000  |4,667,000 |4,992,000 |4,992,000  |         |6.41%    |         |
|               |           |          |          |           |         |         |         |
|-------------------------------------------------------------------------------------------|
|                                                                                           |
|-------------------------------------------------------------------------------------------|
|B: Financial Instruments                                                                   |
|-------------------------------------------------------------------------------------------|
|Resulting situation after the triggering transaction                                       |
|-------------------------------------------------------------------------------------------|
|Type of financial     |Expiration date|Exercise /    |Number of voting rights|% of voting  |
|instrument            |               |Conversion    |that may be acquired   |rights       |
|                      |               |Period/Date   |(if the instrument     |             |
|                      |               |              |exercised / converted) |             |
|----------------------+---------------+--------------+-----------------------+-------------|
|                      |               |              |                       |             |
|-------------------------------------------------------------------------------------------|
|                                                                                           |
|-------------------------------------------------------------------------------------------|
|Total (A+B)                                                                                |
|-------------------------------------------------------------------------------------------|
|Number of voting rights                      |% of voting rights                           |
|---------------------------------------------+---------------------------------------------|
|4,992,000                                    |6.41%                                        |
|-------------------------------------------------------------------------------------------|
|                                                                                           |
|-------------------------------------------------------------------------------------------|
|9. Chain of controlled undertakings through which the voting rights and /or the financial  |
|instruments are effectively held, if applicable:                                           |
|-------------------------------------------------------------------------------------------|
|                                                                                           |
|                                                                                           |
|                                                                                           |
|                                                                                           |
|                                                                                           |
|-------------------------------------------------------------------------------------------|
|                                                                                           |
|-------------------------------------------------------------------------------------------|
|Proxy Voting:                                                                              |
|-------------------------------------------------------------------------------------------|
|10. Name of proxy holder:                                |N/A                              |
|---------------------------------------------------------+---------------------------------|
|11. Number of voting rights proxy holder will cease to   |N/A                              |
|hold:                                                    |                                 |
|---------------------------------------------------------+---------------------------------|
|12. Date on which proxy holder will cease to hold voting |N/A                              |
|rights:                                                  |                                 |
|-------------------------------------------------------------------------------------------|
|                                                                                           |
|-------------------------------------------------------------------------------------------|
|13. Additional information:               |                                                |
|------------------------------------------+------------------------------------------------|
|14. Contact name:                         |Steven Smith                                    |
|------------------------------------------+------------------------------------------------|
|15. Contact telephone name:               |[phone]                              |
+-------------------------------------------------------------------------------------------+

---END OF MESSAGE---