Holding(s) in Company

Mercator Gold PLC
18 May 2006

                       Mercator Gold plc (the 'Company')

                Notification of significant holdings 18 May 2006


Under sections 198 to 202 of the Companies Act 1985 the following information
falls to be disclosed:

The Company was notified on 17 May 2006 that Commonwealth Bank of Australia and
associated entities was interested in a total of 4,578,571 Ordinary Shares in
the Company representing 8.55% of the current issued capital of the Company.


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