Metals Exploration Regulatory News (MTL)

29 Sep 2005 07:00

Metals Exploration PLC29 September 2005 Metals Exploration Plc ("the Company") Runruno Project - Final Approval of Assignment 29 September 2005 The board of Metals Exploration Plc ("MetalsEx") is pleased to announce that theDepartment of Environment and Natural Resources ("DENR") in the Philippines hasgiven its final approval of the Deed of Assignment relating to the explorationpermit in respect of the Runruno project from Greenwater Mining Corporation toFCF Mining Corporation. MetalsEx owns 70% of FCF Mining Corporation. The final approval by the DENR allows the Company to commence drillingoperations, which is expected within the next two weeks. The proposed drillingprogram comprises a first phase of 7,000 metres, which will test the same areathat was the subject of the previous 1970s resource drilling carried out byFil-Am Resources Inc. The Company believes that by increasing the core recoveryrelative to the poor recoveries experienced by the 1970s drilling, it maydemonstrate an increase in the average gold grades of the mineralisation. Inaddition, molybdenum will be analysed for. Further details of the Company's projects are contained in the announcementsreleased by, or on behalf of, the Company to its Regulatory Information Service. Enquiries: Steven Smith - Chairman +44 (0) 7797 721 858Jonathan Anderson - Investor Relations +44 (0) 7950 410 680 or + 63 (0) 916 226 7575Philip Haydn-Slater - W.H Ireland +44 (0) 20 7220 1666 This information is provided by RNS The company news service from the London Stock Exchange