Issue of Equity

Issue of Equity

Mercator Gold Plc

MERCATOR GOLD plc

(“Mercator Gold”, “Mercator” or “the Company”)

ISSUE OF EQUITY

EXERCISE OF WARRANTS

The Company announces that pursuant to the terms of a Warrant Instrument by way of Deed Poll dated 29 May 2009, Notice of Exercise has been received for 428 Warrants for Ordinary Shares of 0.1p each in the Company at a subscription price of 5p each.

The Company has applied for the 428 New Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place on 22 January 2010. The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares in the Company currently traded on AIM. Following admission there will be 144,370,870 Ordinary Shares in issue.

For further information please contact

Mercator Gold plc
Michael Silver, Chairman				Tel: [phone]
Patrick Harford, Managing Director
Email: [e-mail]
Website: www.mercatorgold.com
Bankside Consultants Ltd				Tel: [phone]
Simon Rothschild
Oliver Winters
Cenkos Securities plc
Beth McKiernan				Tel: [phone]
Old Park Lane Capital PLC
Forbes Cutler, Director of Corporate Broking				Tel: [phone]

AIM: MCR

ADR: MTDGY