Report on Runruno

Metals Exploration PLC
13 March 2008

13 March 2008



                             Metals Exploration PLC

                   Runruno - Cripple Creek analogy confirmed

Metals Exploration PLC (AIM: MTL) ('Metals Ex' or 'the Company'), the natural
resources exploration and development company with assets in the Pacific Rim
region, is pleased to report on the results of an investigation of the
mineralisation and host rocks at its 100% controlled Runruno gold-molybdenum
deposit in the Philippines by Dr. Eric Jensen PhD, a recognised expert on
alkaline intrusive-associated gold mineralisation, especially Cripple Creek
style deposits.



HIGHLIGHTS:



Key conclusions of Dr. Eric Jensen's report:



•         'In short, the Runruno gold deposit is remarkable in terms of its
shared characteristics with other alkaline epithermal deposits, including
Cripple Creek, Colorado, and its additional potential as MTL's exploration
activities continue and expand.'



•          'Significant potential for additional discoveries of mineralisation
seems obvious.'



The Company previously identified potential similarities between its Runruno
gold-molybdenum deposit in the Philippines and the Cripple Creek deposit in
Colorado in its Annual Report and Accounts dated 30 September 2006.  To explore
this potential analogy, the Company commissioned Dr. Eric Jensen PhD, a world
renowned expert on alkaline intrusive-associated gold mineralisation, especially
Cripple Creek style deposits, to undertake an investigation of the Runruno
mineralisation and its host rocks.  Dr. Jensen visited Runruno between 7th -
15th February 2008.



The following paragraphs are extracts taken from Dr. Jensen's report to the
Company following his visit:



-     'In short, the Runruno gold deposit is remarkable in terms of its shared
characteristics with other alkaline epithermal deposits, including Cripple
Creek, Colorado, and its additional potential as MTL's exploration activities
continue and expand.'

-     'Significant potential for additional discoveries of mineralization seems
obvious, as multiple zones of alteration have yet to be evaluated, several areas
of current small-scale mining activities have not yet been drill tested,
drilling has not been conducted at depths greater than 180 meters in most areas,
and the 'feeder zones' for the flat-lying zones of mineralization that
constitute the existing resource have yet to be identified.'

-     'The styles of alteration and mineralization at Runruno ... resemble the
styles of Au-(Mo) mineralization associated with multiple alkalic igneous
complexes in North America, and notably, the Cripple Creek gold deposit in
Colorado.'

-     'In addition to the zones of precious metal-mineralization that bear
similarity to North American alkaline Au-(Mo) systems, several other notable
hydrothermal features were seen in the Runruno area (and as recognized by others
and previous exploration programs in the area); these include a prominent zone
of acid sulfate (quartz-alunite phyllosilicate) alteration developed at the
highest elevations in the center of the Runruno volcanic complex (Kori Kura
area), and zones of biotite-magnetite-Cu-sulfide mineralization developed along
the southern flanks of the igneous complex. The high level zones of acid
alteration may represent 'lithocap'-like features that formed from condensation
of acid vapors near the top of the paleo-hydrothermal system(s), and the zones
of biotite-magnetite-Cu-sulfide mineralization appear to represent deep seated,
high-temperature (porphyry-like?) styles of mineralization that differ markedly
from the epithermal-styles of Au-Mo mineralization. The latter constitute an
independent exploration target, while the former gives the favorable impression
that the top levels of at least some of the Tertiary hydrothermal systems were
preserved, indicating that much of the volume of epithermal style mineralization
may have escaped erosion in that area.'





Jonathan Beardsworth, Chief Executive of Metals Ex, said:



'We were delighted to host Dr. Jensen's visit to site, and gratified that he has
confirmed the Company's view that the deposit at Runruno is analogous to that of
Cripple Creek.



'This announcement highlights the significant additional potential at Runruno,
and should be viewed in conjunction with our press release, dated 4th March
2008, which announced that 775,000 ounces of the resource of 2.1 million ounces
already established at Runruno now reports to the Indicated category.



'We are further confident in the potential of this exciting well-mineralised
system.'



Significance to the Company



On 29 January 2008, the Company announced the commissioning of a scoping study
to assess the technical and economic aspects of developing a mining and
processing operation to recover gold and molybdenum.  This study, which is based
on the current estimated mineral resource (27.0 mt @ 2.41 g/t Au and 0.062% Mo),
is current and ongoing and it is likely that it will provide the design for any
development to be undertaken at Runruno.



The confirmation by Dr. Jensen that Runruno is analogous to Cripple Creek is
significant to the Company in that, with further exploration to be undertaken
over time, it enhances the potential for the discovery of additional
mineralisation at Runruno.  Any success from this exploration would potentially
build a mineral inventory in excess of the two million ounces so far outlined
enhancing any development undertaken at Runruno by an extension of the mine life
or as a driver to expand production.



About Dr. Jensen



As part of his PhD at the University of Arizona, Tucson, Arizona, Dr. Eric
Jensen carried out research on a variety of topics related to economic geology,
petrology, and geochemistry; specializing in mineral deposits related to
alkaline magmatism. The topic of his PhD dissertation is 'Magmatic and
Hydrothermal Evolution of the Cripple Creek Gold Deposit, Colorado, and
Comparisons with Regional and Global Magmatic-Hydrothermal Systems Associated
with Alkaline Magmatism' (Jensen, E.P., 2003).



For the past 13 years, Dr. Jensen has been actively involved with alkaline
systems, in particular the Cripple Creek mine and its environs.



Cautionary Statement



The Company is encouraged by Dr. Jensen's findings, but cautions that any
geological similarity between Runruno and Cripple Creek cannot be assumed to
imply that further 'Cripple Creek style' ore bodies will be discovered at
Runruno or to be an estimate of their extent.  Mineral exploration is
speculative in nature and involves many risks.  There can be no assurance that
any discovered mineralisation will result in an increase in the reserves or
resources of the Company.  As a result of these uncertainties, no assurance can
be given that exploration activities undertaken by the Company will result in
any new commercial mining operations being brought into operation.


For more information:



Jonathan Beardsworth                   + 44 (0) 20 7927 6690

CEO                                    + 44 (0) 7747 101 552

Adrian Hadden                          + 44 (0) 20 7523 8350
Collins Stewart Europe Limited

Charles Vivian                         + 44 (0) 20 7743 6672
Pelham PR

Klara Kaczmarek                        + 44 (0) 20 3159 4395
Pelham PR



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.



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 reported by Dr. Eric Jensen, who is 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). Dr. Eric Jensen consents to the
inclusion in this release of the extracts from his report in the form and
context in which they appear.


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