Issue of Equity

Mercator Gold PLC
30 March 2007





London 30 March 2007 - Mercator Gold PLC (AIM:MCR)

                               MERCATOR GOLD PLC
                       ('Mercator Gold' or the 'Company')


                                 ISSUE OF SHARES


The Company announces that pursuant to the terms of the Convertible Loan Notes 
with a nominal value of £1,000,000 issued, under a placing, on 14 December 2005 
(the 'Convertible Loan Notes'), four holders of the Convertible Loan Notes 
have elected to receive ordinary shares of 10p each in the Company 
(the 'Shares') instead of a cash payment of interest. The Company will issue 
3,941 Shares at 60p each, which will result in a cash saving of £2,363.82.

Application has been made for the Shares, which will rank pari passu with all 
existing ordinary shares, to be admitted to trading on AIM.  Following the 
issue, the total of shares issued will be 60,599,085.

For further information please contact:

Mercator Gold plc
Patrick Harford, Managing Director Tel: [phone]

Email: [e-mail]
Website: www.mercatorgold.com

Bankside Consultants Ltd Tel: [phone]
Simon Rothschild
Keith Irons
Oliver Winters

AIM: MCR




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