1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii

Metals Exploration Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation: iii

Ruffer LLP (for its discretionary clients of the Ruffer Group)

4. Full name of shareholder(s)

(if different from 3.):iv

5. Date of the transaction and date on which the threshold is crossed or reached: v

14 April 2015

6. Date on which issuer notified:

15 April 2015

7. Threshold(s) that is/are crossed or reached: vi, vii

12.61% to 13.33%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Class/type of shares

if possible using the ISIN CODE

Number of

Shares

Number of

Voting

Rights

Number of shares

Number of voting rights

% of voting rights x

Class/type of shares

if possible using the ISIN CODE

Number of

Shares

Number of

Voting

Rights

Direct

xi

Direct

xii

Indirect

Direct

Indirect

GB00B0394F60

173,346,785

173,346,785

183,346,785

183,346,785

-

13.33%

-

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/

Conversion Period xiv

Number of voting rights that may be acquired if the

instrument is

exercised/ converted.

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix,

xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

183,346,785

13.33%

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Ruffer LLP now controls the voting rights over

183,346,785 shares (13.33% of the voting rights) of Metals Exploration Plc, which are held by the discretionary clients of Ruffer LLP and its subsidiaries (the voting of

which is all controlled by Ruffer LLP).

This change from 12.61% to 13.33% is due to the purchase of 10,000,000 shares on 14 April 2015.

14. Contact name:

Louise Stanway

15. Contact telephone number:

020 7963 8146