A process for recovering metals from aqueous media containing metal in solution includes the steps of contacting the aqueous medium with fungus for a period of time sufficient to allow the fungus to extract metal in a water-insoluble form from the solution. The metal may then be recovered from the fungus. Fungi of the genera Cladosporium, Penicillium, Trichoderma, Black Mycelium and Aureobasidium, have been found to be useful. The process is useful, both as a water purification process and as a metals recovery process.