Issue of Share Options

Mercator Gold PLC 15 April 2005 FOR IMMEDIATE RELEASE 15 April 2005 MERCATOR GOLD PLC ('MERCATOR' or the 'Company') Issue of Share Options to Director The Company has agreed, as part of a revised salary and option package, to issue to Michael de Villiers, a Director, 1,250,000 new share options. The share options are exerciseable at any time within the next 10 years at an exercise price of 12p per Ordinary Share. Following the issue of these new share options, the interests of Michael de Villiers in the Ordinary Share capital of the Company are as follows: Number of Ordinary Shares as a Number of Warrants Number of share issued Percentage of issued to subscribe for new options to subscribe Ordinary Ordinary Share Ordinary Shares for new Ordinary Shares capital Shares 470,100 0.54% 670,000 2,000,000 For further information, please contact: Patrick Harford Tel: 07786 486645 Managing Director Mercator Gold Roland Cornish Tel: 0207 628 3396 Chairman Beaumont Cornish This information is provided by RNS The company news service from the London Stock Exchange

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