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METALS EXPLORATION PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2026 Metals Exploration plc ( AIM : MTL ) ( “ Metals Exploration ” , the “ Company ” or , together with its subsidiaries , the " Group " ) , a gold production , exploration and development company with assets in the Philippines and Nicaragua , announces its unaudited interim results for the six months ended 30 June 2026 ( “ H1 2026 ” or the “ Period ” ) . The results will be made available on the Company's website at www.metalsexploration.com . Highlights ⚫ H1 2026 positive free cash flow of US $ 54.7 million ( H1 2025 : US $ 70.7 million ) from operations - funding development at the La India gold project ( the “ Project ” ) ; • H1 2026 earnings before tax , interest , depreciation , amortisation , impairment and share - based charges of US $ 55.9 million ( H1 2025 : US $ 72.3 million ) ; • • • H1 2026 gold production of 21,451 ounces ( “ oz ” ) ( H1 2025 : 40,985 oz ) ; H1 2026 gold recoveries of 80.7 % ( H1 2025 : 91.4 % ) ; and Construction and development of the Project in Nicaragua 56 % complete as at 30 June 2026 , and 74.4 % complete as at the day of this report , with first gold pour on track for December 2026 . Production Summary Runruno Project Production Summary Mining Actual Actual Actual Units 6 Months to 30 June 2026 6 Months to 30 June 2025 12 Months to 31 December 2025 Ore Mined Tonnes 566,049 1,028,333 2,142,187 Waste Mined Tonnes 5,303,507 4,889,310 8,557,364 Total Mined Tonnes 5,869,556 5,917,643 10,699,551 Au Grade Mined g / tonne 1.02 1.54 1.28 Strip Ratio 7.26 4.65 3.92 Processing Ore Milled Tonnes 952,585 1,041,486 1,902,702 Gold ( Au ) Grade g / tonne 0.87 1.34 1.21 Sulphur Grade % 1.06 1.18 1.19 Au Milled ( contained ) Ounces 26,591 44,841 73,844 Recovery % 80.7 Au Poured Ounces 21,451 91.4 40,985 88.4 65,287 Sales Au Sold Au Price Ounces 21,373 41,240 66,082 US $ / oz 4,677 2,884 3,154 Darren Bowden , CEO of Metals Exploration , commented : " The first half of 2026 has been a period of significant progress for Metals Exploration . At Runruno , despite lower grades and recoveries as operations run - down to closure , the Company continued to generate substantial revenues , delivering free cash flow of US $ 54.7 million and further strengthening our balance sheet . " At La India , construction continued to advance well , reaching 56 % completion by the end of the Period . We achieved a number of key milestones , including the ongoing installation of major process plant infrastructure , the arrival of long - lead equipment and the commencement of mine fleet mobilisation . We are particularly proud that , after approximately two million hours worked , the Project remains free of lost time injuries , reflecting the successful transfer of the Group's safety culture and the dedication of our workforce and contractors in Nicaragua .