Metals Exploration plc announced that its independent Chairman, Mr. David Cather, has resigned as a Non-Executive Director and Chairman of the Company, with immediate effect. However, the Company announced that, notwithstanding Mr. Cather's resignation from the Board, Mr. Cather will continue to provide services to the Company's subsidiaries as a director of Metals Exploration Pte Ltd. (the group's Singapore incorporated holding company), while remaining a mining engineering consultant to FCF Minerals, the Company's Philippine operating subsidiary. While the Board endeavors to secure a suitable replacement independent Chairman, the Board has resolved to appoint Mr. Steven Smith, Non-Executive Director, as the Interim Chairman.

Mr. Smith is MTL Lux's appointee to the Board, and as such is not considered to be independent. Further, until a new independent Chairman is appointed, Mr. Andrew Chubb and Mr. Tim Livesey will be the only members of both the Audit and Remuneration Board Committees.