Director/PDMR Shareholding

Mercator Gold PLC
03 January 2008



                               Mercator Gold PLC
                                (the 'Company')


             Notification of a change in the interests of Directors


The Company announces that it has today granted options to the directors of the
Company as follows:


Director                     No. of Options      No. of Options held post     % of current ISC held by
                                 granted                   grant                      Director
Terry Strapp                     525,000                 1,200,000                     0.71*
Patrick Harford                  325,000                 1,325,000                      2.64
Denis Geldard                    100,000                  750,000                        0
Michael de Villiers              100,000                  650,000                       0.44
Nick Allen                       55,000                   200,000                        0
Mick Ellias                      55,000                   200,000                        0





The above awards are exercisable at a price of 100p for seven years from the
date of issue.



* This notification replaces that made on 21 December 2007 (RNS Number:  5622K)
in which Mr Strapp's shareholding was incorrectly stated as being 7.12%






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