2016.03.29_Chairman's letter for GM Notice_mark up

30 June 2016

METALS EXPLORATION PLC

(the "Company")

Runruno Gold Project Update

Metals Exploration plc (AIM: MTL) today reports:

Runruno debt facility

Metals Exploration, through its Philippine subsidiary company FCF Minerals Corporation ("FCF") advises that it continues discussions with the Runruno project's Lenders to restructure the Runruno debt facility. The Company has made the interest payments scheduled for 30 June 2016 but the capital repayment has not been made. The Company and its lenders are continuing discussions.

Mill repair work

Following a full assessment of the mill it was determined that repairs were required on the feed end trunnion and bearing. These works have proceeded satisfactorily and subject to the on time arrival of replacement parts being supplied by CITIC, the mill manufacturer, it is expected the mill may be returned to operations later in the coming week. The Company's site based maintenance team is being supported in this work with engineering specialists from CITIC and David Brown as specialist engineering group.

Once the mill is operational, "test running and debugging" operations as part of the commissioning and ramp-up program will resume.

The Company will make further announcements in due course, as appropriate. For further information please visit or contact www.metalsexploration.com

Ian R. Holzberger +63 (0) 9189 795 992

(Chairman) +61 (0) 418 886 165

Liam A. Ruddy +61 (0) 498 648 615

(Company Secretary) +44 (0) 7911 719 960

Nominated Adviser: STOCKDALE SECURITIES Ltd

Robert Finlay, Edward Thomas +44 (0) 207 601 6100

Public Relations: TAVISTOCK

Edward Portman; Jos Simson +44 (0) 207 920 3150

Broker: SP ANGEL CORPORATE FINANCE LLP

Ewan Leggat +44 (0) 203 470 0470

Registered Office: 200 Strand, London, WC2R 1DJ Registered No: 05098945

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Metals Exploration plc published this content on 30 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 June 2016 23:00:04 UTC.

Original documenthttp://www.metalsexploration.com/pdf/RNS16_30June2016.pdf

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