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Introduction

Introduction

Metals Exploration is the 100% owner of the Runruno Gold Project, which it developed from greenfield to production, now producing over 80,000oz of gold per year. Metals Exploration is also the 100% owner of the La India Project in Nicaragua, following the acquisition of Condor Gold, which completed on 15 January 2025.

There is a clear development path to production at La India, which will be funded utilising the Company’s existing and future cash reserves from production at Runruno.

The Company also completed the acquisition of the YMC Group in August 2024, which held an extensive exploration tenement in the Abra area of the Philippines.

Health and safety remains at the core of the Company’s business. Metals Exploration has an exceptional safety record with over 25 million-man hours without a lost time injury as at 31 December 2024.

Strategy

The Company’s strategy is focused on positioning itself for future growth beyond Runruno, which it is implementing through the acquisition of both Condor Gold and the YMC Group. Metals Exploration is now debt free with significant cash reserves, which it will use along with future cash from Runruno to fund the development of the La India Project in Nicaragua. This project has a clear development path to production. Construction of the plant is due to commence shortly following completion of the transaction, and Metals Exploration is targeting to have the project running prior to the finalisation of production at Runruno.
At Runruno, the Company will focus on maintaining high levels of gold production in order to provide strong cashflow whilst it is exploring growth opportunities.

In August 2024, Metals Exploration completed the acquisition of the YMC group, and with it, the Abra tenement. Exploration drilling activities are due to take place in 2025, in order to compile an initial resource estimate by Q3 2025.

Focus on ESG remains a core part of the Company’s strategy whilst it is active in promoting responsible mining practices – continuing to actively reduce the potential environmental impacts of its operations and enhance its environmental performance in mined-out and disturbed areas.

Delivering on our strategy

Acquisition of Condor Gold - construction ready with significant upside potential
Cashflow generative Runruno mine
Acquisition of Abra - significant exploration targets identified
Continuing to focus on further M&A opportunities
Strong management team with a track record of delivery
Operational success at Runruno
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Registered Office
27-28 Eastcastle Street,
London, England, W1W 8DH
United Kingdom
3rd Floor
22a St James Square
London, SW1Y 4JH
Philippines
Unit 1603, Pacific Star Building,
Sen. Gil Puyat Avenue corner,
Makati Avenue, Makati City, 1200,
Metro Manila, Philippines
Tel: +63 (0) 2 8659 5662
Nicaragua
Reparto Las Cumbres
Banco Avanz, 300 m Sur, Casa A-16
Managua,
Nicaragua.