Metals Exploration Regulatory News (MTL)

For immediate release

Not for release, publication or distribution, in whole or in part, DIRECTLY OR INDIRECTLY in, into or from any jurisdiction where

TO DO so would constitute a violation of the relevant

LAWS OR regulations of such jurisdiction

5 April 2011

SOLOMON CAPITAL LIMITED

("Solomon")

Completion of Agreement in relation to the Cash Offer by Strand Hanson Limited on behalf of Solomon Capital Limited for the entire issued and to be issued

ordinary share capital of Metals Exploration plc ("Metals Exploration")

not already owned by Solomon Capital Limited

Solomon is pleased to announce that, following admission of the 192,307,692 new ordinary shares in Metals Exploration to trading on AIM,it has today completed the subscription and shareholders' agreement dated 8 March 2011, details of which were contained in the circular ("Circular") sent to Metals Exploration Shareholders and Accepting Shareholders on 8 March 2011.

Following Completion, Solomon now holds 180,706,958 ordinary shares in Metals Exploration, representing 39.1 per cent. of the issued share capital of Metals Exploration. Shelfco 724 Limited, which is also wholly beneficially owned by Mr Christian Candy, now holds 100,000,000 ordinary shares in Metals Exploration, representing 21.6 per cent. of the issued share capital of Metals Exploration.

Accepting Shareholders are now able to exercise the Right to Rescind, full details of which are set out in the Circular, until the Offer closes on 19 April 2011.

If you are in any doubt as to how to exercise your Right to Rescind, please contact Capita Registrars by telephone on 0871 664 0321 or, if calling from outside the UK, on +44 20 8639 3399 or in writing at Capita Registrars, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU. Calls to the 0871 664 0321 number cost 10 pence per minute from a BT landline. Other network providers' costs may vary. Lines are open 9.00 a.m. to 5.00 p.m. (London time) Monday to Friday. Calls to the helpline from outside the UK will be charged at the applicable international rate. Different charges may apply to calls from mobile telephones and calls may be recorded and randomly monitored for security and training purposes. However, you should be aware that Capita Registrars cannot provide advice on the merits of the Offer or the Right to Rescind nor give any financial, legal or tax advice in connection with the Offer or the Right to Rescind.

To exercise your Right to Rescind, you must complete the Form of Rescission in accordance with the instructions printed on it and return it together with your remittance plus stamp duty calculated at the rate of 0.5 per cent. of the value of the consideration rounded up to the nearest £5 multiple (where such consideration exceeds £1,000) to Capita Registrars, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU, by post or by hand (during normal business hours), as soon as possible, but in any event so as to arrive by no later than 1.00 p.m. (London time) on 19 April 2011.

In this announcement, "Circular" means the document dated 8 March 2011 sent by Solomon to Metals Exploration Shareholders and to Accepting Shareholders in connection with the Agreement and the Right to Rescind. Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the Circular dated 8 March 2011.

Enquiries:

Solomon Capital Limited

Richard Williams Tel: +44 (0)1481 722 111 

This announcement is for information purposes only and is not intended to, and does not, constitute, or form any part of, an offer to sell or an invitation to subscribe for or purchase Metals Exploration Shares or any other securities, nor shall there be any sale, issue or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.