MONTERRICO METALS PLC

(Incorporated and registered in England & Wales under the Companies Act 1985 with Registered Number 04236974)

PROPOSED CANCELLATION OF ADMISSION OF ORDINARY SHARES TO TRADING ON AIM AND ARRANGEMENT WITH THE WARRANTHOLDER

Reference is made to section 5 of the announcement dated 23 April 2009 regarding the proposed cancellation of admission of ordinary shares to trading on AIM.

As mentioned in that announcement, the Company has previously issued two warrants in respect of certain Ordinary Shares to Agropecuaria Las Huaringas S.A. under a Warrant Agreement dated 27 August 2008 (the 'Warrant Agreement') details of which were announced on 28 August 2008. 

The Board of Monterrico Metals Plc is pleased to announce that Agropecuaria Las Huaringas S.A. has consented to the proposed cancellation of the admission of the Company's ordinary shares to trading on AIM and has agreed to the amendment of certain provisions of the Warrant Agreement pursuant to a supplemental warrant agreement entered into with the Company on 24 April 2009.

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