Grant of Warrants

Metals Exploration PLC
08 November 2005

                             METALS EXPLORATION PLC

                               GRANT OF WARRANTS

8 November 2005


The Board of Metals Exploration plc announces that on 3 November 2005, it
granted warrants to certain directors (and their related parties) and third
parties to subscribe for up to 5,800,000 ordinary shares.  Each warrant entitles
the holder to subscribe for one ordinary share of 1 pence each in the capital of
the Company.

In accordance with Rule 17 of the AIM Rules the Company discloses that warrants
have been granted to the following directors (and their related parties) on the
principle terms and conditions as set out below:


Warrant Holder             Exercise     Exercise Period                Number of      Total Number of
                           Price                                       Warrants       Warrants held by
                                                                       Granted        Director or Related
                                                                                      Party post-grant

Gary Powell                12p          7 years from date of grant     1,000,000      1,500,000
                           40p          7 years from date of grant     500,000

Reef Securities Limited (a 20p          7 years from date of grant     1,000,000      2,500,000
related party to Steven
Smith)                     40p          7 years from date of grant     500,000

Philip Barnett             20p          7 years from date of grant     500,000        2,000,000
                           40p          7 years from date of grant     500,000



Additionally warrants were granted to the following third parties:
Warrant Holder             Exercise     Exercise Period                Number of      Total Number of
                           Price                                       Warrants       Warrants post-grant
                                                                       Granted

Ennismore Consultants      20p          7 years from date of grant     1,000,000      2,500,000
Limited                    40p          7 years from date of grant     500,000

Mobfi S.A.                 12p          2 years from date of grant     300,000        520,960



Enquiries:

Steven Smith: Chairman                         + 44 (0) 7797 721858
Jonathan Anderson: Investor Relations          + 44 (0) 7950 410680
Philip Hayden-Slater: WH Ireland Limited       + 44 (0) 2072 201666



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