Warrants Exercise

Metals Exploration PLC
25 April 2006

                     Metals Exploration Plc ('the Company')



                              Exercise of Warrants



25 April 2006



Metals Exploration PLC today announces that it has issued and allotted 1,000,000
new Ordinary Shares of 1p each, at a price of 3.25 pence per share, pursuant to
an exercise of warrants.



The new Ordinary Shares will rank pari passu with the existing Ordinary Shares
of 1p each in the Company and trading of these shares on AIM is expected to
commence on 2 May 2006.



The total number of Ordinary Shares in issue following this exercise of warrants
is 52,006,385.


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