Issue of Equity

7 Mar 2006 09:24

Metals Exploration PLC07 March 2006 METALS EXPLORATION PLC ISSUE OF EQUITY 7 March 2006 Metals Exploration PLC ("the Company") today announces that it has issued andallotted 40,000 new Ordinary Shares of 1p each to satisfy a payment obligationof the Company pursuant to a joint venture agreement between the Company andMedusa Mining Limited and Philsaga Mining Corporation (together the "MedusaGroup"). The key details of such agreement with the Medusa Group have beenpreviously announced on 25 January 2006. The new Ordinary Shares will rank pari passu with the existing Ordinary Sharesof 1p each in the Company and trading of these shares on AIM is expected tocommence on 13 March 2006. The total number of Ordinary Shares in issue following this issue of equity is50,686,385. This information is provided by RNS The company news service from the London Stock Exchange