METALS EXPLORATION PLC

PDMR Dealings, Exercise of Options and Warrants, and Total Voting Rights

Metals Exploration PLC (AIM: MTL) ("Metals Exploration" or the "Company"), a gold producer, development and exploration company with assets in the Philippines and Nicaragua, announces that it has received notice of exercise of options and warrants over ordinary shares of £0.0001 each in the capital of the Company ("Ordinary Shares"), as well as having been notified of certain other transactions in Ordinary Shares.

MTL Investments S.a.r.l, ("MTLIS"), which is wholly owned by Nick Candy, a person closely associated ("PCA") with Steven Smith, Non-Executive Chairman of the Company, has entered into the following transactions with Parman Street Limited, as part of a Candy group re-financing arrangement:

·    a share pledge over 138,500,000 Ordinary Shares; and

·    granted an option to acquire 2,600,000 Ordinary Shares.

Further, Candy Investments S.a.r.l, ("CIS"), another Nick Candy wholly owned company, has sold, at market value, 65,100,000 Ordinary Shares to Bletchley Consulting Limited ("BCL"), a company wholly owned by Steven Smith. Mr Smith's aggregate direct interests total 65,100,000 Ordinary Shares, which represents approximately 2.13% of the Company's total voting rights.  Further information is set out in the Appendix to this announcement.

Following these dealings, Nick Candy's indirect interest has changed to 587,900,000 Ordinary Shares, comprising: CIS with 443,800,000 Ordinary Shares, MTLS with 141,100,000 Ordinary Shares, Candy Ventures S.a.r.l with 2,000,000 Ordinary Shares, and MTL (Luxembourg) S.a.r.l with 1,000,000 Ordinary Shares, which represents in aggregate 19.22% of the Company's current total voting rights.

CIS, MTIS, and MTL (Luxembourg) S.a.r.l are each wholly owned by Nick Candy. Nick Candy holds a 90% interest in Candy Ventures S.a.r.l, with the remaining 10% held by Steven Smith.

Options exercised

The Company advises that it has received notice of exercise of options in respect of 72,236,820 new Ordinary Shares with an average exercise price of £0.0011 each, raising a total of £76,002.

PDMR Notifications

Details of exercise of options by PDMRs are set out below, with further information being contained in the Appendix to this announcement:

*  includes options and/or shares held by PCAs of the relevant PDMR.

Warrants exercised

The Company advises that it has received notice of exercise of warrants in respect of 91,206 new Ordinary Shares with an average exercise price of £0.0605 each, raising a total of £5,518.

Admission and Total Voting Rights

Application has been made to London Stock Exchange PLC for the admission of 72,328,026 new Ordinary Shares to trading on AIM ("Admission"), which is expected to take place at 8.00 a.m. on or around 6 August 2026.

Following Admission, the Company will have 3,357,883,184 Ordinary Shares in issue, of which 299,385,458 Ordinary Shares are held in treasury, and, accordingly, the total number of voting rights is 3,058,497,726. Therefore, this figure may be used by shareholders in the Company as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Appendix - PDMR / PCA Notifications