Interim Results

Ovoca Resources plc
                  

                            OVOCA GOLD PLC

                        INTERIM STATEMENT 2005

Set out below is the unaudited consolidated statements of Ovoca Resources plc
for the six month period ended 31st August 2005. The loss for the six months
reflects administration costs incurred during the period in Ireland, Sweden and
Russia.

                   Chairman's Letter to Shareholders

The last six months have seen major changes in Ovoca Gold Plc. The acquisition
of 78% of Norplat was successfully completed and hopefully, as a result of
ongoing exploration results on Ovoca's Kola Peninsula licences, the acquisition
of the remaining 22% will take place in the near future. In June the company
raised €1,690,000 through a placing and in July London's AIM listing was added
to the Irish Enterprise Exchange listing. In September the Company name was
changed from Ovoca Resources Plc to Ovoca Gold Plc and is now going forward as a
precious metal exploration and mine development company.

In October additional exploration properties in the Kola Peninsula of Russia,
across the border from Finland, were acquired and the area of the
"Kolmozero-Voroninsky Greenstone Belt" held by Ovoca has been increased from 152
to 421 square kilometers. These licences host eight gold deposits, a copper
molybdenum gold porphyry deposit, platinum group metals, and rare earth
deposits. Two of the prospects have been sufficiently explored to outline a
resource of 900,000 ounces of gold based on the Russian Resource classification
as P1 and P2. Recent drill assay results gave a gold grade of 211 grams per
tonne (6.8 ounces) over a 2 metre intersection and a number of other drill holes
have returned gold grades of over 80 grams per tonne (2.6 ounces). In addition
to these exceptional gold grades the presence of platinum group metals on the
licence is proving exciting. Ovoca is now carrying out the interpretation of the
2005 drilling programme and planning the programme for 2006 on the Kola
Peninsula. We believe the potential for a major deposit is excellent and the
results to-date are very encouraging.

In Sweden we have appointed Aurum Exploration Limited to carry out exploration
for us along the "Gold Line" in Vasterbotten County. Recent assay results from
our Akerland zinc licence have returned grades up to 44% zinc and this will be a
priority for early drilling. Krokliden and Sjoliden, adjoin the licence area of
the recently commissioned open pit Svartliden Gold Mine owned by Dragon Mining
of Australia with reported head grades of 4.5 grams per tonne gold. Krokliden is
500 metres along strike from this open pit and the ground magnetic survey
indicates that the Svartliden ore body may extend into Ovoca's Krokliden
licence. Ovoca's Nottjarn concession, where quartz veins with values of 12.8
grams per tonne gold, 26 grams per tonne silver and 1.1% copper have been found
is encouraging.

Ovoca has commissioned an independent geologist to review the Newcastle West
zinc exploration licences in Ireland and his report will be reviewed over the
next few months.

Over the past 12 months the price of gold has ranged between $415 and $497 per
ounce and is currently at its 5 year peak of $497. Silver has ranged from $6.50
to $8.28 per ounce during the year and is currently $8.20 an ounce. We believe
that this upward trend in precious metal prices will continue for the
foreseeable future which will make our current licences in Russia and Sweden
even more valuable. We have, in addition, been evaluating several advanced stage
precious metal projects and we hope to be able to announce the outcome of these
evaluations and negotiations in the near future and we look forward to 2006 with
optimism and enthusiasm. Finally I would like to thank management for their hard
work and shareholders for their continued support.

Yours sincerely

Roger Turner
Chairman
30 November 2005



Consolidated Profit and Loss Account
    for the six months to 31 August 2005                            2005            2004
                                                                        €               €

    Administration expenses                                     (223,363)       (184,927)
    Other operating income                                        19,159
                                                         ---------------- ---------------

    Operating loss - continuing operations                      (204,204)       (184,927)

    Investment income (net)                                           12             346
                                                         ---------------- ---------------

    Loss on ordinary activity before tax                        (204,192)       (184,581)

    Tax
                                                         ---------------- ---------------

    Retained (loss) for the period                              (204,192)       (184,581)

    Profit and loss at beginning of period                    (5,849,618)     (3,696,233)
                                                         ---------------- ---------------

    Profit and loss at end of period                          (6,053,810)     (3,880,814)
                                                         ================ ===============

    Attributable to
    Equity holders of the parent                              (5,641,545)     (3,880,814)
    Minority interest                                           (412,266)
                                                         ---------------- ---------------

                                                              (6,053,810)     (3,880,814)
                                                         ================ ===============

    Basic loss per ordinary share                                (0.25)c         (0.35)c
                                                         ================ ===============




Consolidated Balance Sheet
    at 31 August 2005                                               2005            2004
                                                                        €               €
Fixed Assets
    Intangible assets                                          9,035,425       4,480,603
    Tangible assets                                                4,917         111,404
    Financial assets
    Minority interest                                           (412,266)
                                                         ---------------- ---------------
                                                               8,628,077       4,592,008

Current Assets
    Debtors                                                       76,641          91,826
    Bank                                                       1,321,521           2,459
                                                         ---------------- ---------------
                                                               1,398,163          94,285

Creditors: Amounts falling due
    within one year                                              465,525         207,135
                                                         ---------------- ---------------

Net current assets                                               932,638        (112,849)
                                                         ---------------- ---------------

Net Assets                                                     9,560,715       4,479,158
                                                         ================ ===============


Financed by
Capital and Reserves
    Called up share capital                                    2,830,844       1,331,542
    Share premium                                             12,772,199       9,055,629
    Other reserves                                                11,482          11,681
    Revaluation reserve                                                           95,387
    Profit & loss account                                     (6,053,810)     (6,015,081)
                                                         ---------------- ---------------

                                                               9,560,715       4,479,158
                                                         ================ ===============






Consolidated Cash Flow Statement
    for the six months to 31 August 2005                            2005            2004
                                                                        €               €

Net cash inflow/(outflow) from operating activities              469,625        (220,146)

Returns on investment and servicing of finance
    Investment income (net)                                           12             346
    Sale of tangible asset                                        22,000
                                                         ---------------- ---------------

Net cash (outflow)/inflow from returns
    on investment and servicing of finance                        22,012             346

Tax Paid

Capital expenditure and financial investment
    Purchase of tangible assets                                     (586)         (2,769)
    Purchase of intangible assets                               (471,842)       (220,048)
                                                         ---------------- ---------------

Net cash (outflow) from capital expenditure
   and financial investment                                     (472,428)       (222,817)

Acquisition and Disposals
    Purchase of subsidiaries                                    (231,425)
                                                         ---------------- ---------------

Net cash outflow from acquisitions and disposals                (231,425)

Net cash outflow before financing
   and management of liquid resources                           (212,216)       (442,617)

Financing and management of liquid resources
    Proceeds from issue of share capital                       1,517,348         348,264
    Net cash transferred from liquid resources                         -               -
                                                         ---------------- ---------------

Net cash inflow from financing
   and use of liquid resources                                 1,517,348         348,264
                                                         ---------------- ---------------

Increase in cash in the period                                 1,305,132         (94,353)
                                                         ================ ===============




Group Recognised Gains and Losses
    for the six months to 31 August 2005                             2005             2004
                                                                         €                €

    Loss for the period                                          (204,192)        (184,581)
    Exchange loss on foreign currency net investments             (13,430)
    Realisation of property revaluation gain of previous
     years                                                         16,874
                                                         ----------------- ----------------

                                                                 (200,748)        (184,581)
                                                         ================= ================


Notes

1. No dividend is proposed in respect of the period.

2. The calculations of loss per share have been based on the retained losses
after taxation and on a weighted average of 83,333,623 ordinary shares (2004 -
53,261,625 ordinary shares) in issue during the period.

3. The Unaudited results have been prepared on a going concern basis and on the
basis of the accounting policies adopted in the Annual accounts for the year
ended 28 February 2005.

4. The interim report is Unaudited and does not constitute Statutory Accounts as
defined in S.148 of the Companies Act 1963. A copy of the Group's 2005 Statutory
Accounts has been filed with the Irish authorities. The auditors' opinion on
these Statutory Accounts was unqualified.

5. The interim report for the six months to 31 August 2005 was approved by the
Directors on 29 November 2005.

6. The company has changed it's financial year end to 31 December 2005.

7. The Purchase of subsidiaries relates to the acquisition costs of 78% of
Norplat Limited, owning 95% of AOA Black Fox Resources, a Russian joint stock
company. The purchase price was 39,500,000 ordinary shares in May 2005. Minority
interest refers to the portions of these companies that the Group does not own.
The Profit and loss account at the beginning of the period has been restated to
show the remaining 22%.

8. The Proceeds from issue of share capital represent a private placing of
16,900,000 ordinary shares for €1,517,348 net of costs.

For further information contact         Mr. Danesh Varma   + 44 20 7871 4654
                                        Mr. John O'Connor  + 353 1 491 2944


Copies of this report are available at the Company's offices at :

York House, Rear 176 Rathgar Road, Dublin 6.

29 November 2005