Pico Machay Drilling update

RNS Number:4940E
Monterrico Metals PLC
26 September 2007



                             Monterrico Metals plc
                        ("Monterrico" or the "Company")



                                                                        AIM: MNA





        Drill results from the Pico Machay Gold Project in southern Peru



LONDON, 26 September, 2007 Monterrico Metals plc is pleased to announce the
results of a drilling programme being undertaken by Absolut Resources Inc. (ABS
- TSX Venture) at Monterrico's concessions covering the Pico Machay Gold Project
in Peru.  The Company is presently conducting a review of Absolut's investment
program in the Project, with the objective of formalising its association with
Absolut Resources.


The following is the text of the announcement by Absolut Resources Inc.:





 Absolut cuts 75 meters @ 1.39 g/t Gold at Pico Machay





Toronto, September 26, 2007 - Absolut Resources Corp. (TSX-V: ABS) is pleased to
announce that it has received results from the first 20 of 56 drill holes from
the drill out program on the Pico Machay Gold Project in Peru.



Early drilling was focussed on the extremities of the known mineralization, with
drilling in the northeast of the deposit confirming the presence of a high grade
core of mineralization trending northeast - southwest. Highlights of the
drilling were holes ABS-199 intersecting 75m @ 1.39 g/t Au, including 15m @ 3.75
g/t Au; ABS-198 intersecting 112m @ 0.67 g/t Au, including 48m @ 1.19 and
ABS-209 intersecting 58m @ 1.69 g/t Au.



All holes drilled on the northern extremity of the deposit intersected
significant mineralization, with the exception of ABS-192, indicating the
deposit remains open to the north.


               Table 1.- Pico Machay Drill Hole Au Grade Summary
     Hole                      From (m)   To  (m)   length (m)    Grade (g/t)
    ABS-191                      17.50     26.50       9.00          0.43
                                 38.50     58.00       19.50         0.30
    ABS-192    No significant
    ABS-193                      0.00      14.00       14.00         0.43
                                 25.00     47.50       22.50         0.44
                 including       25.00     32.50       7.50          0.62
                                 59.50     62.50       3.00          0.33
    ABS-194                      0.00      49.00       49.00         0.61
                 including       16.00     31.00       15.00         1.06
                                 55.00     71.50       16.50         0.37
    ABS-195                      19.00     43.00       24.00         0.31
    ABS-196                      80.50     95.50       15.00         0.53
    ABS-197                      29.50     65.50       36.00         0.33





    Hole                       From (m)   To  (m)    length (m)    Grade (g/t)
   ABS-198                       0.00      112.00      112.00         0.67
                including       29.50      77.50        48.00         1.19
                including       41.50      61.00        19.50         2.01
   ABS-199                      10.00      85.00        75.00         1.39
                including       20.50      35.50        15.00         3.74
   ABS-200                       0.00      68.50        68.50         0.64
                including       14.50      28.00        13.50         1.05
   ABS-201                       0.00      37.00        37.00         0.50
                                43.00      100.00       57.00         0.36
   ABS-202                       8.50      13.00        4.50          0.30
                                23.50      70.00        46.50         0.99
                including       41.50      58.00        16.50         1.77
   ABS-203                       0.00       4.00        4.00          0.34
                                13.00      22.00        9.00          0.33
                                34.00      44.50        10.50         0.35
                                56.00      80.50        24.50         0.39
   ABS-204                       0.00      32.50        32.50         0.52
                including        0.00       8.50        8.50          1.01
                                44.50      49.00        4.50          0.33
                                61.00      107.50       46.50         0.45
   ABS-205                       0.00      25.00        25.00         0.62
                                53.50      80.50        27.00         0.64
                including       70.00      80.50        10.50         1.00
   ABS-206                       5.50      16.00        10.50         0.52
                                23.50      47.50        24.00         0.52
                including       26.50      32.50        6.00          1.47
                                70.00      86.50        16.50         0.57
   ABS-207                       0.00      70.00        70.00         0.46
                including        0.00      11.50        11.50         1.08
   ABS-208                       0.00      61.00        61.00         0.58
                including        0.00      16.00        16.00         1.18
   ABS-209                       0.00      58.00        58.00         1.69
                including        0.00      43.00        43.00         2.00
                                74.50      80.50        6.00          0.36
   ABS-210                       0.00      79.00        79.00         0.75
                including       13.00      47.50        34.50         1.19

*Intersections are calculated using a 0.3 g/t Au cut-off and up to 1.5m of
internal dilution



Pico Machay is characteristic of a high-sulphidation, epithermal gold system.
The geological model has been repeatedly tested and additional drilling
continues to delineate and expand the resource base.



The Company previously announced an independent preliminary Mineral Resource
Estimate indicating an inferred in situ resource of 580,000 ounces of gold at
Pico Machay Gold Project (see news release Sept.26, 2005). The Mineral Resource
Estimate was prepared by Caracle Creek International Consulting Inc. (CCIC), of
Sudbury, Canada. The Mineral Resource was calculated using a 0.3 g/t gold
cut-off and comprises 436,623 ounces gold in the Oxide and Mixed Zones and
145,579 ounces gold in the Sulphide Zone. The Resource calculated for the Oxide
and Mixed Zones (15.9 million tonnes grading 0.85 g/t Au) lies above an average
depth of 75 metres.

Absolut has implemented a quality control program to ensure best practice in
chemical sampling and analysis of surface and reverse circulation drilling
samples.

All drilling has been performed using a Reverse Circulation Drill Rig. Samples
are split on site under the supervision of Absolut Resources geologists.
Sampling is done on one and a half meter intervals and samples are transported
by Company staff to Santa Ana, Peru for direct shipping to Acme Laboratories in
Lima, Peru. Acme Analytical Laboratories is an ISO 9001:2000-registered
laboratory.  Gold values are obtained by a 50 gram fire assay.

Absolut Resources Corp. is a precious metals exploration and development company
based in Toronto, Canada. Absolut strongly believes in an international best
practices approach, and implements this on all its social and environmental
decisions. Absolut has implemented a quality control program to ensure best
practice. The required qualified person for the Pico Machay Gold Project is Mr.
Dan Noone who is a member of the Australian Institute of Geoscientists and is
the President and CEO of Absolut Resources Corp.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements. The actual results could
differ materially from a conclusion, forecast or projection in the
forward-looking information.  Certain material factors or assumptions were
applied in drawing a conclusion or making a forecast or projection as reflected
in the forward-looking information. "

ENDS



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

Absolut Resources Corp.                                   Tel: + 1 416 214 4654
Dan Noone, President & CEO




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

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