Metals Exploration PLC
22 September 2006
Metals Exploration Plc
('Metals Ex' or 'the Company')
Chief Executive Officer Assumes Responsibilities
Update on Runruno
22 September 2006
Metals Exploration Plc is pleased to announce, further to the announcement on 6
July 2006, that Jonathan Beardsworth has assumed his duties on 4 September 2006
as Chief Executive Officer of the Company.
Jonathan has just returned from the Philippines, meeting the Company's personnel
and management and being briefed on progress on the Company's projects, in
particular Runruno on which the Company has a right to an 85% ownership
interest.
The Company is confident that Jonathan's experience of mining and corporate
finance in emerging markets will make a major contribution to the continued
success of the Company's strategy.
Update on Runruno:
On 11 May 2006, the Company announced a JORC compliant Inferred Mineral Resource
at Runruno totaling an estimated 23 million tonnes at an average grade of 2.3 g/
t gold and 0.07% molybdenum, giving a total contained resource of 1.7 million
ounces of gold and 34 million pounds (15.4 kt) of molybdenum.
The resource estimate is classified as an Inferred Mineral Resource as defined
by the JORC Code, the Australasian Code for Reporting of Identified Mineral
Resources and Ore Reserves.
Since the last drilling report on the 7th August, a further 18 drill holes have
been drilled and 3 more are in progress at Runruno. The Company expects to
announce by mid November an updated resource statement for Runruno.
There are no other requirements of AIM Rule Schedule 2(g) that fall to be
disclosed.
Qualified/competent persons
Gary Powell (a Director of the Company) has been involved in the mining and
exploration industry for more than 20 years. He has a Bachelor of Applied
Science degree in geology and is a member of the Australasian Institute of
Mining and Metallurgy and the Australasian Institute of Geoscientists. He has
compiled, read and approved the technical disclosure in this regulatory
announcement.
Enquiries:
Steven Smith Chairman +44 (0) 7797 721 858
Jonathan Beardsworth Chief Executive +44(0)7747101552
Jonathan Anderson Investor Relations +44 (0) 7950 410 680 or
+63 (0) 917 560 6654
Nomad/Broker
Chris Rollason/ Adrian Hadden (Collins Stewart) +44 (0)207 523 8350
This information is provided by RNS
The company news service from the London Stock Exchange
END
This information is provided by RNS
The company news service from the London Stock Exchange