REG - Metals Exploration - Runruno Operational and Production Guidance Update

Metals ExplorationAnnouncement

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RNS Number : 5047H  Metals Exploration PLC  14 November 2025

14 November 2025

 

METALS EXPLORATION PLC

 

Runruno Operational and

Production Guidance Update

 

Metals Exploration plc (AIM: MTL) ("Metals Exploration", the "Company" or the
"Group"), a gold production, development and exploration company with assets
in the Philippines and Nicaragua, announces that mining and gold processing
operations at Runruno were impacted by the Super-typhoon Uwan, which made
landfall on the island of Luzon in the vicinity of the Runruno mine, on the
evening of Sunday 9 November 2025.

 

The Company is relieved to report that there were no recorded injuries to
staff or contractors.

 

Super-typhoon Uwan

Super-typhoon Uwan is one of several typhoons to recently make landfall in the
Philippines, causing significant damage and loss of life. Uwan was the
strongest to pass over the Runruno project site, bringing heavy rainfall and
severe winds. The resulting damage to the project site included the loss of
river crossings, damage to access roads, loss of roofing and subsequent water
damage in administration and maintenance buildings, and minor land/mud-slips
in the pit area and elsewhere around the project site. In addition, drill pads
at the Dupax project suffered damage, temporarily setting back the drill
programme there while repairs take place. Drilling at Dupax is expected to
resume within the next two weeks.

 

Fortunately, the damage to the mine, process plant and other site
infrastructure is not material, and clean-up works are well advanced. Main
grid power to the site was lost as numerous electrical poles were downed both,
in close proximity to the mine, and within the broader Nueva Viscaya province.
Back-up generators ensured no loss of BIOX bacteria.

 

It is expected that mains power to the site will be re-established within the
next few days, resulting in a pause to processing operations of approximately
seven days. A further update will be provided once processing operations
resume. Mining operations recommenced on 11 November 2025.

 

Despite the large run-off of rainwater into the Residual Storage Impoundment
("RSI"), the RSI maintained integrity and over four metres of freeboard
remained at the peak of the rain inflow into the RSI dam.

 

There has been some damage to local community infrastructure, including a
nearby bridge that is used to access the Runruno project area. Alternative
access routes have been developed to ensure that there is no interruption to
the delivery of fuel, consumable supplies, etc, to the project site. Where
possible, the Company has provided equipment and personnel to assist the local
community with clean-up efforts.

 

Annual Production Guidance

This power and processing interruption, combined with further changes to the
mine schedule necessitated by the clean-up of the pit areas, and the cyanide
contamination in September 2025, has resulted in the Company revising its
annual gold production guidance from 70,000-75,000 ounces to 65-000-70,000
ounces.

 

Darren Bowden, CEO of Metals Exploration, commented:

"Our thoughts are with all of those across the country who have lost loved
ones and been affected not only by Uwan but the other serious typhoons that
have impacted the Philippines this typhoon season. We are relieved that there
were no injuries at Runruno, and that there was no material damage to the
mine, process plant or other site infrastructure."

 

"While it is disappointing to revise our annual production guidance downwards,
our focus for the rest of the year will be on maximising value generation from
our mining and processing operations at Runruno, while continuing to provide
meaningful support to the local community during this challenging period; as
well as progressing the construction at La India in Nicaragua."

 

This announcement contains inside information for the purposes of Article 7
of EU Regulation 596/2014, which forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018 (as amended). Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

 

END

For further information, please contact or visit:

 

 Metals Exploration PLC
 Via BlytheRay                                   +44 (0) 207 138 3204

 Nominated & Financial Adviser:                  STRAND HANSON LIMITED
 James Spinney, James Dance, Rob Patrick         +44 (0) 207 409 3494
 Joint Broker:                                   HANNAM & PARTNERS
 Matt Hasson, Franck Nganou                      +44 (0) 207 907 8500

 Joint Broker                                    PANMURE LIBERUM

 Amrit Mahbubani, Scott Mathieson, Zak Wadud     +44 (0) 20 3100 2000

 Public Relations:                               BLYTHERAY
 Megan Ray, Said Izagaren                        +44 (0) 207 138 3204

metalsexploration@blytheray.com

 

Web:                      www.metalsexploration.com
(http://www.metalsexploration.com)

X:                            @MTLexploration
(https://twitter.com/MTLexploration)

LinkedIn:               Metals Exploration
(https://www.linkedin.com/company/metals-exploration-plc)

 

Forward Looking Statements

Certain statements relating to the estimated or expected future production,
operating results, cash flows and costs and financial condition of Metals
Explorations, planned work at the Company's projects and the expected results
of such work contained herein are forward-looking statementswhich are based on
current expectations, estimates and projections about the potential returns of
the Group, industry and markets in which the Group operates in, the Directors'
beliefs and assumptions made by the Directors. Forward-looking statements are
statements that are not historical facts and are generally, but not always,
identified by words such as the following: "expects", "plans", "anticipates",
"forecasts", "believes", "intends", "estimates", "projects", "assumes",
"potential" or variations of such words and similar expressions.
Forward-looking statements also include reference to events or conditions that
will, would, may, could or should occur. Information concerning exploration
results and mineral reserve and resource estimates may also be deemed to be
forward-looking statements, as it constitutes a prediction of what might be
found to be present when and if a project is actually developed.

 

These statements are not guarantees of future performance or the ability to
identify and consummate investments and involve certain risks, uncertainties
and assumptions that are difficult to predict, qualify or quantify. Among the
factors that could cause actual results or projections to differ materially
include, without limitation: uncertainties related to raising sufficient
financing to fund the planned work in a timely manner and on acceptable terms;
changes in planned work resulting from logistical, technical or other factors;
the possibility that results of work will not fulfil projections/expectations
and realize the perceived potential of the Company's projects; uncertainties
involved in the interpretation of drilling results and other tests and the
estimation of gold reserves and resources; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or
interruptions; the possibility of environmental issues at the Company's
projects; the possibility of cost overruns or unanticipated expenses in work
programs; the need to obtain permits and comply with environmental laws and
regulations and other government requirements; fluctuations in the price of
gold and other risks and uncertainties.

 

The Company expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward looking statements contained herein to
reflect any change in the Group's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statements are
based unless required to do so by applicable law or the AIM Rules.

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