Change of Broker

6 November 2012

METALS EXPLORATION PLC

Change of Broker

Metals Exploration plc (AIM: MTL) ("Metals Exploration" or the "Company"), the natural resources exploration and development company with assets in the Pacific Rim region.

Metals Exploration is pleased to announce the appointment of S. P. Angel Corporate Finance LLP as the Company's broker with immediate effect.

For further information please visit or contact www.metalsexploration.com

Metals Exploration PLC [email protected]

Ian R. Holzberger +63 (0) 9189 795 992

(Chairman) +61 (0) 418 886 165

Liam A. Ruddy +44 (0) 7911 719960

(Company Secretary)

Nominated Adviser

Westhouse Securities Ltd +44 (0) 207 601 6100

Martin Davison

Paul Gillam

Public Relations

Tavistock Communications

Edward Portman +44 (0) 207 920 3168

Jos Simson +44 (0) 207 920 3157

Broker

SP Angel Corporate Finance LLP

Ewan Leggat +44 (0) 20 3463 2272