Meekatharra Drilling Results

Mercator Gold PLC
22 June 2005

                          MEEKATHARRA DRILLING RESULTS

                          ('Mercator or 'the Company')


LONDON - 22 June 2005  Mercator Gold plc (AIM: MCR) as operator of the Annean
Joint Venture with St Barbara Mines Limited (SBM) announces interim results from
its drilling programme near Meekatharra, Western Australia, including the
Surprise target at Yaloginda.


Surprise, Surprise Extended and Jess

At the previously-mined Surprise open pit and Surprise Extended area south of
the pit, the Company has completed its reverse circulation and diamond drilling
programme over a strike length of 700 metres. Thirty one holes totalling 4721
metres were drilled for the dual purpose of extending the known mineralisation
and of verifying historical data.

While many assays are pending, results to date demonstrate a 700 metre strike
length of mineralised porphyry for Surprise and Surprise Extended to a depth of
up to 170 metres, and show high-grade gold continuing to be intersected, with an
individual result of  8m @ 11.8 g/t Au including 0.4m @ 224 g/t Au in drill hole
05SURD019.

The porphyry is up to 40m in width and remains open at depth. Most of the
porphyry is mineralised to varying levels, with higher gold grades coincident
with flat quartz veins with pyrite. Assay results of moderate grades include 8m
@ 5.5 g/t Au (including 4m @ 10.5 g/t Au) in drill hole 05SURC002. Other
intersections include 8m @ 1.2 g/t Au  in drill hole 05SURC010, 7m @ 1.7 g/t Au
in drill hole 05SURC012, 9m @1.6 g/t Au, 9m @1.8 g/t Au and 5m @ 2.6 g/t Au in
drill hole 05SURC021. Further assay results from Surprise are pending.

Drilling of an apparent en echelon zone of mineralisation at Jess immediately
southwest of Surprise Extended has intersected further near-surface low-grade
mineralisation, dipping gently southeast. Intersections include 6m @ 2.6 g/t Au
in drillhole 05JSRC004 and 14m @ 1.6g/t Au in drillhole 05JSRC008. Further assay
results from Jess are pending.

The Company is now assessing the potential for a single open pit resource
stretching from Surprise to Jess, being over a kilometre in length, in excess of
200 metres in depth and up to 40 metres in width.

(Drill results are detailed in Table 1.)

Verification drill results are detailed in Table 1 and the results compared
critically in Table 2.

Bluebird

The Company has commenced a 4000 metre diamond core and reverse circulation
drill programme at Bluebird. The programme is expected to be completed by mid
July.

Resource Assessments

The Company has commissioned Cube Consulting to provide independent resource
assessments for Surprise and Surprise Extended and for Bluebird and expect
delivery of these assessments in August 2005 and September 2005 respectively.

Chunderloo

The Western Australia Department of Industry and Resources has granted the
Company an exploration licence E51/1043 over 104.4 sq km of the Abbotts
greenstone belt in an area known as Chunderloo. The licence will form part of
the Annean Joint Venture area. The Abbotts belt is a typical greenstone belt
with rock types and structure prospective for gold. The belt is mostly
regolith-covered accounting for the historic production of just over 4000 ounces
of gold, mostly from tenement M512/390 held by the Company and north of the
newly granted tenement. The Company is commencing a data acquisition programme
and target prioritisation prior to drilling at Chunderloo.

Mingah

At Mingah, in the Kurara East tenement group, two reverse circulation drill
holes to depths of 158m and 192m tested the shallow level gold anomalies
recorded in previous RAB / air-core drilling. No significant intersections were
recorded. Rock types intersected were unaltered to weakly-altered granite. No
further drilling is planned at Mingah, and future work in the Kurara East area
will focus on the greenstone belt rocks.

Tuckanarra

Initial drilling of the Tuckanarra project area returned no significant results
and these tenements will be returned to St Barbara Mines Limited at their
request/as per the Joint Venture agreement.

For further information, please contact:

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

Beaumont Cornish Limited
Rod Venables / Roland Cornish                         Tel:  [phone]

Parkgreen Communications
Justine Howarth / Ana Ribeiro                         Tel:  [phone]


Information releases

Mercator operates a continuous disclosure policy with respect to exploration
results. Company news releases are based on technical information approved by
the Company's Exploration Director, Julian Vearncombe BSc (Hons), PhD, FGS,
RPGeo, FAIG.


Note to editors

Under the terms of the Annean Joint Venture, Mercator has the right to earn 70%
interest in the Meekatharra properties by spending AUD$8 million (approx GBP3.1
million) on exploration. Mercator recently announced that it has spent the first
AUD$1 million and has elected to proceed towards the first step of earning 45%
with a minimum expenditure requirement of AUD$2 million before 3rd March 2006.


Table 1     Drilling
            results
DataSet     Hole_ID    From_m  To_m  Interval_m  Au_g/t Au_g*m/t  Easting  Northing  RL  Comments

Jess        05JSRC004       86    87           1    0.9     0.9   642525   7044530  397
                           108   109           1   0.54    0.54   642520   7044540  378
                           113   119           6   2.58   15.48   642519   7044543  372
                           121   123           2   0.59    1.18   642518   7044545  366
Jess        05JSRC005       18    22           4   0.77    3.08   642518   7044622  455
Jess        05JSRC006        0   172         172                  642544   7044588  398 NSI
Jess        05JSRC008        3    17          14   1.57   21.98   642447   7044582  463
Jess        05JSRC010        0   200         200                  642497   7044479  390 NSI

Mingah      05MGRC001        0   158         158                  636583   7015397      NSI
Mingah      05MGRC002        0   192         192                  636510   7015200      NSI

Tuckanarra  05TKRC001        0   178         178                  611875   6999690      NSI
Tuckanarra  05TKRC002        0   148         148                  611891   6999757      NSI
Tuckanarra  05TKRC003        0   118         118                  610463   6999420      NSI

Surprise    05SURC002      132   140           8   5.49   43.92   642648   7044879  348 4m composites
Surprise    05SURC003       44    48           4   1.03    4.12   642640   7044930  433
                            85    86           1   0.58    0.58   642653   7044925  396
                            92    94           2   1.21    2.42   642656   7044924  389
                            97    99           2   0.87    1.74   642658   7044923  384
                           103   107           4   1.33    5.32   642660   7044923  378
                           110   111           1   0.61    0.61   642662   7044922  373
Surprise    05SURC004       28    34           6   0.59    3.54   642671   7044975  449 Twin to SU63
                            35    36           1   0.89    0.89   642673   7044974  445
                            44    45           1    0.7     0.7   642678   7044973  437
                            48    51           3    1.1     3.3   642680   7044972  433
                            55    57           2   1.08    2.16   642683   7044970  427
                            60    61           1   0.69    0.69   642685   7044970  423
                            68    71           3   1.69    5.07   642690   7044968  416
Surprise    05SURC005       38    40           2   1.03    2.06   642675   7044917  441 Twin to SU0206
                            44    49           5   1.95    9.75   642679   7044916  435
Surprise    05SURC006       33    40           7    1.3     9.1   642690   7045054  444 Twin to SU66
                            44    48           4   1.22    4.88   642694   7045052  436
                            55    59           4   0.91    3.64   642699   7045050  427
Surprise    05SURC007       12    23          11   1.21   13.31   642704   7045157  458 Twin to SU0194
                            24    33           9   2.34   21.06   642709   7045155  448
                            40    41           1   0.74    0.74   642715   7045153  438
                            45    53           8    0.8     6.4   642720   7045151  431
Surprise    05SURC008       16    20           4   0.57    2.28   642696   7045169  455 Twin to SU0216
                            21    25           4   0.71    2.84   642698   7045168  450
                            28    37           9    0.6     5.4   642702   7045167  441
                            38    39           1   0.77    0.77   642704   7045166  436
                            46    51           5   1.02     5.1   642709   7045164  428
                            54    55           1   1.87    1.87   642712   7045163  423
                            62    67           5   0.63    3.15   642717   7045162  414
Surprise    05SURC009       23    40          17   2.76   46.92   642701   7045158  446 Twin to SU0195
                            43    53          10   1.07    10.7   642710   7045155  432
                            54    63           9   1.82   16.38   642715   7045154  423
                            68    70           2   2.03    4.06   642721   7045152  414
                            75    78           3   2.51    7.53   642725   7045150  408
Surprise    05SURC010      151   159           8   1.23    9.84   642697   7045180  329
                           161   162           1   0.63    0.63   642699   7045179  323
                           166   168           2   0.59    1.18   642701   7045178  318
                           171   175           4   0.72    2.88   642704   7045178  313
                           177   180           3   0.86    2.58   642706   7045177  308
                           183   188           5   0.56     2.8   642709   7045176  301
                           193   194           1   2.88    2.88   642712   7045175  294
                           208   209           1   1.02    1.02   642718   7045173  280
                           212   213           1   0.87    0.87   642719   7045173  277
Surprise    05SURC012      174   175           1   0.62    0.62   642670   7045134  311
                           178   181           3   0.52    1.56   642672   7045133  306
                           184   191           7   1.67   11.69   642675   7045132  299
                           194   195           1   0.86    0.86   642677   7045131  292
                           207   209           2   0.98    1.96   642682   7045130  280
Surprise    05SURC015        5     9           4   0.55     2.2   642704   7045114  468 Twin to SU0190
                            14    16           2   1.02    2.04   642708   7045113  461
                            22    24           2   1.84    3.68   642712   7045112  455
                            27    28           1   0.54    0.54   642715   7045111  451
Surprise    05SURC016        4    13           9   0.78    7.02   642706   7045176  465 Twin to SU71
                            14    23           9   0.76    6.84   642711   7045174  456
                            26    45          19    1.1    20.9   642719   7045171  442
                            49    53           4   0.66    2.64   642726   7045169  428
Surprise    05SURC017      131   136           5   0.59    2.95   642679   7045053  361
                           139   141           2   0.57    1.14   642682   7045052  356
                           144   145           1   0.81    0.81   642684   7045051  352
                           147   148           1   0.66    0.66   642686   7045050  350
                           152   153           1   1.01    1.01   642688   7045049  345
Surprise    05SURC020      115   116           1    0.8     0.8   642681   7045094  371
                           121   122           1   0.77    0.77   642684   7045093  366
                           129   132           3    0.9     2.7   642687   7045091  357
                           136   138           2   0.85     1.7   642690   7045090  352
                           141   147           6   0.62    3.72   642692   7045089  345
                           148   150           2   0.86    1.72   642694   7045089  341
Surprise    05SURC021      125   126           1   0.98    0.98   642685   7045132  371
                           130   132           2    1.2     2.4   642688   7045131  367
                           135   144           9   1.57   14.13   642694   7045129  361
                           147   156           9   1.78   16.02   642702   7045127  352
                           157   162           5   2.63   13.15   642708   7045126  347
Surprise    05SURC022       60    64           4   0.55     2.2   642647   7044877  421 Twin to SU57
                            80    83           3   0.79    2.37   642657   7044874  404
                            86    95           9   1.58   14.22   642661   7044873  397
Surprise    05SURC023       38    49          11   0.84    9.24   642668   7044770  434 Twin to SU51
                            52    58           6   0.73    4.38   642662   7044772  424
                            60    61           1   0.67    0.67   642660   7044773  419
                            65    68           3   0.73    2.19   642657   7044774  414
Surprise    05SURC024      133   136           3   1.07    3.21   642777   7045259  368
                           141   142           1   0.55    0.55   642773   7045261  363
Surprise    05SURC25         0   162                              642843   7045211      NSI
Surprise    05SURD001    216.7 217.4         0.7   0.75    0.52   642713   7045234  275
Surprise    05SURD019    121.6   122         0.5   0.76    0.38   642701   7045216  368 Diamond hole
                                                                                        twinned
                           133 139.1         6.1   1.92  11.712   642708   7045213  356 with SU75
                           149 150.5         1.5   1.02    1.53   642715   7045211  344
                           154   155           1    0.8     0.8   642717   7045210  340
                           158 160.5         2.5   0.84     2.1   642719   7045209  336
                           163   167           4   4.85    19.4   642722   7045208  331
                           170   171           1   3.85    3.85   642725   7045207  326
                           174   175           1   0.97    0.97   642727   7045206  323
                           179   187           8  11.78   94.24   642731   7045204  316 inc. 0.4m @
                                                                                        224.6g/t Au
                           193 193.7         0.7   0.77   0.539   642736   7045202  307


Table 2    Surprise          There is a very close spatial correlation between the positions of
           verification      both geology and mineralised/anomalous intervals observed in the MCR
           holes             twin holes when compared to the original SBM holes.

05SURC004  Twin to SU63      MCR twin contains similar grade and width of mineralisation to
                             original SBM hole eg. 5m @ 1.0g/t (46-51m) in SU63
05SURC005  Twin to SU0206    Slightly lower grades in MCR twin compared to SBM original.
05SURC006  Twin to SU66      High grade zone in SU66 (2m @ 64g/t Au; 34-36m) not repeated in MCR
                             twin
05SURC007  Twin to SU0194    Overall lower grade in MCR twin hole: 22m @ 3.55g/t Au (13-35m) in
                             SU0194
05SURC008  Twin to SU0216    Slightly higher grades in MCR twin compared to SBM original.
05SURC009  Twin to SU0195    MCR twin contains similar grade and widths of mineralisation to
                             original SBM hole eg.36m @ 1.8g/t (24-60m) in SU0195
05SURC015  Twin to SU0190    High grade zone in original (2m @ 11.6g/t Au; 22-24m) not repeated in
                             MCR twin
05SURC016  Twin to SU71      Overall higher grades in MCR twin hole eg. 14m @ 0.8g/t Au (31-45m) in
                             SU71
05SURC022  Twin to SU57      Mixed results. High grade zone in SU57 (2m @ 11.3g/t Au; 80-82m) not
                             repeated in MCR twin, but MCR twin higher in zone  beneath  - 11m @
                             0.7g/t; 84-94m in SU57.
05SURC023  Twin to SU51      Broad high grade zones in original not repeated in MCR twin. Original
                             was drilled wet and may have sampling that was contaminated. This hole
                             will be removed from any future resource evaluations.
05SURD019  Twin to SU78      Overall higher grades in MCR twin hole. Highest assay in MCR hole was
                             0.4m @ 224.6g/t Au. Highest assay in original was 1m @ 6.08g/t Au



Notes on tables

  • The drill assay tables is in this press release are based on compositing
    trigger value = 0.5 g/t Au, minimum composite length 0.2m, and maximum width
    of internal waste 2m.
  • Intersection coordinates represent the x-y-z centroid position of the
    composited drill-hole intersection. Easting refers to the Australian Map
    Grid AMG'84 block 50 easting coordinate, and northing the AMG'84 block 50
    northing coordinate. Where there are no significant intersections in a hole
    the collar coordinates are given.
  • Assay method is Genalysis 50g fire assay (FA50/AAS).
  • The surface RL at Yaloginda near Meekatharra is about 470m with modest
    variations within the area.
  • NSI = no significant intersection.


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