Result of ShareholdersMeeting

RNS Number:2073O
El Oro Mining&Exploration Co PLC
31 July 2003



  RECOMMENDED MERGER OF EL ORO MINING AND EXPLORATION COMPANY P.L.C. ("EL ORO") 
      WITH THE EXPLORATION COMPANY P.L.C. ("EXPLORATION") BY MEANS OF A 
                        SCHEME OF ARRANGEMENT ("SCHEME")
 
                        RESULTS OF SHAREHOLDER MEETINGS
 

El Oro is pleased to announce the results of the Shareholder Meetings.

The resolution considered at the separate class meeting of the Class A
shareholders held on 31 July 2003, was duly passed on a poll. 100% of those
Class A shareholders present and voting voted in favour of the resolution,
representing 100% by value of the ordinary shares held by those Class A
shareholders present and voting.

The resolution considered at the separate class meeting of the Class B
shareholders held on 31 July 2003, was duly passed on a poll. 100% of those
Class B shareholders present and voting voted in favour of the resolution,
representing 100% by value of the ordinary shares held by those Class B
shareholders present and voting.

The special resolution considered at the Extraordinary General Meeting held on
31 July 2003, was duly passed on a poll. Of those El Oro shareholders voting,
100% by value of the ordinary shares held by them voted in favour of the special
resolution.

The Court Hearing of El Oro's petition to sanction the Scheme will take place on
3 September 2003. Subject to the Scheme receiving the sanction of the Court at
that time, the effective date of the Scheme is expected to be 5 September 2003.
Dealings in the new Exploration stock units to be issued pursuant to the terms
of the Scheme are expected to commence on 5 September 2003.



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