Drilling Update

Ovoca Gold PLC
16 October 2006


   Ovoca Announces High Grade Silver Intersections from Drill Holes and Dump
              Samples at it's Goltsovoye Project, Eastern Russian


Ovoca Gold Plc (AIM: OVG; IEX: OVX) is pleased to announce preliminary results
from its drilling, metallurgical and dump sampling programme on the Goltsovoye
Silver Deposit, Magadan Province, Eastern Russian.

Ovoca Gold also announces the appointment of DBM Capital of Moscow, Russia as
financial advisors to the company.

The Goltsovoye Silver deposit is Ovoca Gold's flagship project and is presently
the subject of a Western Bankable Feasibility Study designed, supervised and
coordinated by Wardell Armstrong International (WAI).

As part of the above studies Ovoca has been carrying out a confirmatory and
infill diamond drilling programme to confirm previous Soviet exploration data
and to upgrade western Inferred resources to an Indicated category.  Highlights
from assay results received on core samples are tabulated below and which
demonstrate the exceptional high grades characteristic of the Goltsovoye Silver
Deposit.

Borehole     Interval              Length      Silver
Zone 1       From       To metres  metres      Grammes per  Ounces per tonne
             metres                            tonne

GDA9         39.6       43.6       4.0         2,857        91.9
Including
             39.6       40.6       1.0         10,031       322.5
And
             26.6       33.6       7.0         886          28.5
Including
             26.6       27.6       1.0         1,609        51.7
             29.6       30.6       1.0         2,152        69.2
             31.8       32.6       0.8         1,201        38.6
And
             65.5       66.5       1.0         1,335        42.9

GDA10        90.0       94.0       4.0         1,054        33.9
Including
             91.5       92.5       1.0         3,942        126.7
And
             139.3      140.5      1.2         731          23.5

GDA8         102.5      105.35     2.85        2,972        95.5
Including
             102.5      104        1.5         1,622        52.1
             104.95     105.35     0.4         15,057       484.1

To date 1,750 metres have been drilled out of a programme of 3,920 metres.  Core
recovery is between 95 and 100%.  The drilling programme for Zone 1 ore body is
now complete and all core samples are in the process of sample preparation and
assaying.  Results for the full program will be announced as soon as they are
compiled and available.  Drilling is now in progress on Ore Zone 2.

The drilling results have confirmed the presence of significant grades of silver
within the main ore bodies of Zone 1.  All the intersections are at least 500
grammes per tonne (16 ounces. per tonne) higher than the minimum planned stope
grade of 300 grammes per tonne (9.6 oz. per tonne).  Zone 1, Ore body 2, which
will provide ore for the first two years of operation, is proving to carry
exceptionally high silver grades over much greater thicknesses than was
originally modeled from the Soviet data.

WAI has conducted a preliminary sampling exercise covering the majority of the
waste dumps at Goltsovoye. This involved taking 26 shallow (<0.5m) bulk samples
of around 10kg in weight from each identified dump. The sampled material was
bagged and double labeled before being weighed and transported, under
supervision by WAI, to the Ducat Geology Laboratory at Magadan.  The survey was
also conducted to estimate volumes for each dump, and subsequent tonnage
calculations. The results confirmed over 600,000t of waste material present at
an average grade of 300 grammes per tonne (9.6 ounces per tonne) is available on
surface. This would provide ore for immediate processing on commissioning of the
ore processing plant.

Several orebodies were sampled over an average width of 1.5 metres for the
purpose of preliminary metallurgical test work to determine the physical and
chemical characteristics of the ore.  These samples were assayed prior to
testing and the results of the assays are reported below:

Ore Body          Silver Assay Results (Ave. over 1.5m interval)
                  grammes per tonne         Ounces per tonne

2                 8,309                     267.1
3                 2,586                     83.1
3                 2,301                     74.0
9                 146                       4.7
9                 614                       19.8
4                 990                       31.8
4                 91                        2.9
4                 1,494                     48.0
4                 319                       10.2
4                 57                        1.8

As demonstrated from the drilling assay results exceptional silver grades have
been encountered over significant widths.

Barrie Oakes, the Chief Executive Officer, states that: 'a mining company often
dreams of developing such a deposit with silver grades amongst the highest in
the world compared with other mining companies producing from primary silver
deposits.  In our case it appears to be a reality'.

The above information has been reviewed and verified by Roger Turner, Director
and Chairman of Ovoca, for the purposes of the Guidance Note for Mining, Oil and
Gas Companies issued by the London Stock Exchange in March 2006. Mr. Turner,
with 40 years of mining engineering, management and consulting experience,
graduated as a mining engineer from the Camborne School of Mines, has an MSc
degree in Economic Geology from Leicester University and is a member in good
standing with the Institute of Materials, Mining and Metallurgy and a UK
Chartered Engineer.


Glossary:
     
Adit            a tunnel usually close to horizontal and driven into a hillside 
                from surface for the purpose of access to an ore body;

Core Recovery   difference between the amount of core expected from the metres 
                drilled to the measured amount expressed as a percentage

Geotechnical    a study of the physical properties of the rock which include 
                strength, composition and the presence of internal structure 
                such as fractures or inclusions.

Hydrogeological a study of the water bearing properties of the rock, the amount 
                of water available and the speed of replacement on extraction.

Stope           the area of an ore body that is actively being or has been mined 
                and the ore removed;


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

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

Simon Beardsmore, Commercial Manager - Ovoca Gold Plc   Nick Bias / Alex Buck - Buck Bias (UK PR)
Tel: [phone]                                Tel: [phone]
Email: [e-mail]                   Email: [e-mail] / [e-mail]

John Frain - Davy                                       Richard Chase- Ambrian (AIM Broker)
Tel: [phone]                                 [phone]
Email: [e-mail]                               Email: [e-mail]

Connexions PR
Tom McCormack
Tel:+ 353 (0)86 245 4215 + 353  (0)1  230 3015
Email: [e-mail]


16 October 2006


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