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: [phone]
Managing Director
Mercator Gold

Roland Cornish Tel: [phone]
Chairman
Beaumont Cornish




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