MNA Monterrico

RNS Number:2643D
Monterrico Metals PLC
04 September 2007

                                                                        AIM: MNA


           MONTERRICO RECEIVES NOTIFICATION OF PLACING OF ITS SHARES

Monterrico is pleased to announce that Xiamen Zijin Tongguan Investment
Development Co., Ltd ("Zijin Consortium") has today announced that it has
entered into a conditional placing and purchase agreement (the "Agreement") with
LS-Nikko Copper Inc ("LSNC") for the proposed sale by the Zijin Consortium to
LSNC of 2,630,606 ordinary shares of 10 pence each in the capital of Monterrico
(the "Shares"). These Shares represent approximately 10% of the total issued
share capital of Monterrico. The Shares are being placed at a price of 370 pence
per Share, which is at a premium to the current share price.

Completion of the Agreement is expected to occur on 21 September 2007 subject to
satisfaction of a condition precedent.

Following the acquisition by LSNC the total voting rights will be as follows:-


        Total Voting   Percentage of         Total Voting    Percentage of 
        Rights         Total Voting Rights   Rights          Total Voting Rights


Zijin   23,649,509     89.9%                 21,018,903      79.9%

LSNC     -             -                     2,630,606       10.0%


LS-Nikko is a Korean joint venture founded by Korea's LG Cable and Japan Korea
Joint Smelting.  It is the second largest copper smelting company in the world.
                                                      
Please refer to the corresponding TR1 forms announced today for further
information in relation to the above holdings.

Mr Richard Ralph commented: "The fact that a major player such as LS-Nikko
Copper Inc should have wished to take a substantial shareholding in Monterrico
Metals plc, and at a premium to the current market price, is a very welcome and
encouraging development.  It undoubtedly represents a demonstration of
confidence in both Monterrico Metals and in the successful future development of
its world class Rio Blanco copper/molybdenum project in northern Peru."


For further information, please contact:

Monterrico Metals plc                                     Tel: + 44 20 7776 2900
Richard Ralph, Non-Executive Chairman
Susan Connolly, Investor Relations Manager

Ambrian Partners                                          Tel: + 44 20 7776 6421
Tim Goodman

Parkgreen Communications Limited                          Tel: + 44 20 7851 7480
Simon Robinson/Beth Harris/Laura Llewelyn


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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