Bankable Feasibility Study

Ovoca Gold PLC
23 June 2006

                                 OVOCA GOLD PLC


Ovoca Starts Bankable Feasibility Study on the Goltsovoye Silver Deposit, Russia




Friday, 23 June 2006


Ovoca Gold Plc (AIM: OVG; IEX: OVX) is pleased to announce that it has appointed
Wardell Armstrong to conduct a Bankable Feasibility Study on the 74 million
ounce Goltsovoye silver deposit in the Magadan Region of Russia to commence in
the first week of July 2006.


Following the recent acquisition of a 78% equity interest in the Russian company
CJSC Ayax, holder of a mining license for the Goltsovoye silver deposit in the
Magadan Region in the east of Russia, Ovoca has now engaged Wardell Armstrong
International Limited to complete a bankable feasibility study for the
development of the deposit to be completed by the first quarter of 2007. The
Wardell team will commence work on site during the first week of July 2006


A confirmatory core drilling programme, geotechnical and hydrological drilling
programme will shortly commence under the supervision of the consultant and will
supplement the study. The Goltsovoye deposit which has reserves of 74 million
ounces of silver approved as C1 and C2 under the Russian standard for resource
classification will during the study be converted to the western JORC standard
for resource and reserve classification.


Following completion of the bankable study, Ovoca plans to rapidly move into
mine construction during 2008.


On completion, the Goltsovoye mine, Ovoca Gold will develop into a mid-tier
precious metal producer with additional advanced exploration projects in the
Kola Region of northwest Russia bring additional resources for future
development.


Ovoca Gold Plc is an international company developing and exploring precious and
 base metals in Russia, Sweden and Ireland quoted in London (OVG.L) and Dublin
                                   (OVX.IR).




For further information please visit www.ovocagold.com or contact:

Simon Beardsmore - Ovoca Gold                         Nick Bias Buck Bias (UK PR)

Tel: [phone]                             Tel: [phone]

Email: [e-mail]                 Email:[e-mail] /
Mr John Frain - Davy Broker)                          Richard Chase- Ambrian Partners+44 (0)207 776 6461

Tel: [phone]                               Email: [e-mail]

Email: [e-mail]




23 June, 2006


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