Issue of Equity

METALS EXPLORATION PLC

                           ISSUE OF EQUITY


The Directors of Metals Exploration plc ("the Company") announce
that, following the receipt of a notice of conversion of warrants in
the Company at 8p per share, they have today allotted 200,000 new
ordinary shares of 1p each in the Company.

Application has been made for the 200,000 new shares to be admitted
to AIM, which is expected to take place on 19 September 2008.

Following the conversion of the warrants, there are 112,283,795
ordinary shares of 1p in issue with each share carrying the right to
one vote.


Enquiries:


Metals Exploration  plc       [phone]
Jonathan Beardsworth (CEO)

Hanson Westhouse Limited      [phone]
Tim Feather / Matthew Johnson

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