Issue of Shares

Mercator Gold PLC
05 October 2007

                                 

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


                                ISSUE OF SHARES
                                        

The Company announces that pursuant to the terms of a Deed of Warrant Grant
dated  23 September 2004 with an expiry date of 7 November 2007, Notices of
Exercise have  been received for 230,000 Warrants for ordinary shares of 10p
each in the Company  (the 'Shares') at a conversion price of 60p each. The
Company will issue 230,000  Shares and as a result will have a total of
62,449,911 issued shares.

Application has been made for the Shares, which will rank pari passu with all
existing  ordinary shares, to be admitted to trading on AIM and admission is
expected on 9  October 2007.




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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