Heads of Agreement Signed

Ovoca Resources PLC
13 April 2004





 Ovoca signs Heads of Agreement on Irish Gold Exploration Portfolio with Minmet
                      PLC and Aurum Mineral Resources Ltd.





Ovoca Resources PLC, the international exploration company, ( "Ovoca", OVG.I ,
Dublin ; OVG.L , London ) is pleased to announce the signing of a Heads of
Agreement on the formation of a new Joint Venture company, focused on gold
exploration in the Republic of Ireland and Northern Ireland in conjunction with
MinMet PLC ("MinMet") and Aurum Mineral Resources Ltd ("AMR").



Database and knowledge assets are to be jointly assigned into a subsidiary
company, Exploration & Development Ltd ("EDL"), in which Ovoca, MinMet and AMR
will initially hold a 40%, 40% and 20% beneficial interest respectively. AMR
will act as operators on behalf of EDL and a joint management committee,
comprising a representative of each joint venture partner, will oversee
exploration activities.



Under the agreement AMR can earn into a 40% equity stake in EDL by spending
€50,000 on exploration activities within 18-months. MinMet will assign its Irish
base-of-till sampling database into the company and Ovoca will provide further
geological data which it has on file, relating to areas of interest.



All parties involved agree that the aim of this Joint Venture is to discover and
develop an economic gold deposit in Ireland and to this effect EDL will focus on
an exciting gold exploration portfolio, in varied geological terrains, on
properties distributed throughout Ireland. Identified targets are based on an
initial analysis and interpretation of newly integrated data including the
unique MinMet base-of-till geochemical database, historical Ovoca data and AMR's
extensive Irish databases and geological expertise.



A full digital capture programme and analysis of data in areas in the West,
Midlands and North-East of Ireland is underway and field-work in target areas is
expected to commence during April 2004. The Joint Venture partners look forward
to positive results from an aggressive, ore-grade result orientated exploration
programme.







Enquiries and further information :



Richard O'Shea   CEO     + 353 87 256 0397

John O'Connor    CFO     + 353 1 491 2944



www.ovoca.ie



DATE 13 April 2004



This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.


                      This information is provided by RNS
            The company news service from the London Stock Exchange