9 November 2012
METALS EXPLORATION PLC
Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), the natural resources exploration and development company with assets in the Pacific Rim region.
Writ of Kalikasan
FCF Minerals Corporation (FCF), a wholly owned subsidiary of Metals Exploration Plc (MEP) and owner of the Runruno gold project in the Philippines, The Department of Environment and Natural Resources, The Mines and Geosciences Bureau and the National Commission on Indigenous Peoples have jointly been served with an application for a Writ of Kalikasan, seeking any number of remedies from a restraining order through ordering the payment of additional compensation to termination of the Runruno FTAA. A Writ of Kalikasan (literally, a Nature Writ) is a remedy under the 2010 Rules of Procedure for Environmental Cases that seeks protection of one's constitutional right to a balanced and healthful ecology. FCF believes the basis of the writ is flawed with significant inaccurate "facts", and has a vexatious element.
On this basis FCF will work closely with the relevant Government agencies (that have provided FCF with all appropriate licences, along with numerous environmental and community support awards) to vigorously defend its position and rights in the Supreme Court of the Philippines. As such, FCF will lodge its response to the application by November 15, 2012. Further, FCF will consider all appropriate remedies against the counterparties to the writ as it considers appropriate for the inaccurate allegations and claims made in the writ.
At this point, FCF does not believe that the Writ will be successful, and therefore no quantitative value of its impact has been made.
MEP will continue to provide information when the action further develops.
For further information please visit or contact www.metalsexploration.com
Metals Exploration PLC info@metalsexploration.com
Ian R. Holzberger +63 (0) 9189 795 992
(Chairman) +61 (0) 418 886 165
Liam A. Ruddy +44 (0) 7911 719960
(Company Secretary)
Nominated Adviser
Westhouse Securities Ltd +44 (0) 207 601 6100
Martin Davison
Paul Gillam
Public Relations
Tavistock Communications
Edward Portman +44 (0) 207 920 3168
Jos Simson +44 (0) 207 920 3157
Broker
SP Angel Corporate Finance LLP
Ewan Leggat +44 (0) 20 3463 2272