STEP OUT DRILLING AND REGIONAL EXPLORATION UPDATE

About this update from Metals Exploration Plc

RNS Number : 8150G Metals Exploration PLC 18 May 2011     METALS EXPLORATION PLC   RUNRUNO STEP OUT DRILLING AND REGIONAL EXPLORATION UPDATE     Metals Exploration plc (AIM: MTL) ("Metals Exploration" or "the Company"), the natural resources exploration and development company with assets in the Pacific Rim region, is pleased to provide an update relating to step out drilling and regional exploration activities in the Financial or Technical Assistance Agreement ("FTAA") area surrounding its Runruno gold-molybdenum project in the Philippines.      Highlights   § Early success from the systematic assessment of the potential of the Runruno FTAA away from the main mineralisation. § Three diamond drill holes confirm the extension of the Runruno mineralisation 150m south of the southern pit boundary. § Diamond drilling in the Tulingan area 750m south-east of the Runruno mineralisation intersects 6.9m grading 2.81 g/t Au and 383 ppm Mo. § The Tulingan intersection is interpreted to be a new zone and style of gold mineralisation. § Drill targets defined at Bocboc and Magnetite Creek within the Runruno FTAA. § Bocboc has potential for Runruno styled gold and molybdenum mineralisation. § Magnetite Creek area is prospective for copper and gold mineralisation. § Regional exploration work is to continue.     Regional Exploration   Runruno Mineral Resource Extension:   An initial programme of five diamond drill holes to test for extensions to the main Runruno mineralisation south of the proposed pit is now complete, with assay results for three of the holes to hand.  In each of these holes significant intercepts of gold and molybdenum have been identified, extending the Runruno mineralised zone 150m south of the previously interpreted southern extent.    Once the outstanding results for the remaining two holes are received and the geological interpretation of all of the results compiled, the projected near surface position of this new zone of mineralisation will be tested by diamond drilling.   The assay results are presented in the table below:   Hole No Northing m Local Grid Easting m Local Grid From (m) Width (m) Au  g/t Mo ppm MXD831 100 567 114 17.0 1.59 1,319 MXD832 50 580 123 2.1 0.26 1,493 130 1.0 0.88 707 132 2.0 1.07 867 142 6.0 0.73 420 153 4.3 1.18 837 MXD 833 00 ...

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