Issue of Equity

Metals Exploration plc

                           Issue of Equity

Metals Exploration plc ("Metals Ex" or "the Company") announces  that
the Company has today issued 200,000  new ordinary shares of 1p  each
("Ordinary  Shares")  to  Filminera  Resources  Corporation   ("FRC")
pursuant to a Memorandum of Agreement dated 1 February 2005.

The new  Ordinary  Shares  represent  the  final  instalment  of  the
consideration payable  for FRC's  remaining interests  in FCF  Mining
Corporation ("FCF").  FCF is the permit holder of Metal Ex's flagship
Runruno project in the Philippines.

Following the  issue  of these  new  Ordinary Shares,  the  Company's
issued share  capital  comprises  165,318,516  ordinary  shares  with
voting rights.  It is  expected that admission to  trading on AIM  of
the new Ordinary Shares will take place on 13 March 2009.


Enquiries:


Metals Exploration plc        020 7963 9540
Jonathan Beardsworth

Hanson Westhouse Limited      0113 246 2610
Tim Feather / Matthew Johnson

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