1 November 2024

METALS EXPLORATION PLC

Directorate Changes

Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), a gold producer in the Philippines, is pleased to announce the appointments of Mr David Cather and Mr Rob Marshall as Non-Executive Directors of the Company with immediate effect.

Mr David Cather, previously Independent Non-Executive Chair of Metals Exploration, is currently the Chairman of the Company's subsidiary, which holds its interest in the Runruno mine, and has in excess of 40 years' experience in the mining industry. David has acted as CEO and COO of operating gold mining companies, and has held various roles with a London-based fund manager and at Anglo-American plc. He has participated in numerous acquisitions and IPOs of mining companies on various stock exchanges and has significant expertise in mine development.

Mr Rob Marshall has been appointed as a representative of the Company's second largest shareholder, Drachs Investment No3 Limited ("Drachs"). Rob is a chartered accountant with over 20 years' professional and corporate advisory experience. Rob is currently the UK managing director and CFO of the Evans Property Group, a global family investment business which is predominantly real estate based.

Furthermore, the Company has executed a relationship agreement with Drachs to regulate the relationship between the Company and Drachs to ensure, amongst other things, that the Company and its business shall be managed independently of Drachs and for the benefit of the shareholders of the Company as a whole. The relationship agreement also grants Drachs the right to appoint one director, for so long as it continues to hold more than 15% of the voting rights of the Company.

Finally, the Company is pleased to confirm BlytheRay as its public relations advisor to support its communications strategy and stakeholder engagement.

Nick von Schirnding, Independent Non-Executive Chair of Metals Exploration, commented:

"It is a pleasure to welcome David back to the parent company board, where his mining industry experience enabled him to make significant contributions to the Company. We are also delighted to welcome Rob, a highly regarded finance professional, to the Board of the Company. We look forward to working with them as we continue our strategy of growing the Company in the Philippines as well as creating value through potentially expanding our asset portfolio elsewhere."

For further information, please contact or visit:

Web:                www.metalsexploration.com

X:                     @MTLexploration

LinkedIn:           Metals Exploration

Additional Information on the Directorate Appointments

The following additional information is provided in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies.

There is no further information to be disclosed in relation to the directorate appointments pursuant to AIM Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies.