Placing of New Shares

Ovoca Resources PLC
8 June 2001

                                                           Ovoca Resources PLC

                                                                    York House

                                                         Rear 176 Rathgar Road

                                                                      Dublin 6


                                                        Phone + 353 1 491 2944

                                                          Fax + 353 1 491 2945



                 Ovoca Resources PLC ('Ovoca' or 'the Group')

Ovoca announces that it has placed 1,500,000 new Ordinary shares of IR2p each
at a price of Euro0.26 per share to raise Euro 390,000 (IR£307,150) before
expenses. Following the Placing the total number of IR2p Ordinary Shares in
issue will be 29,083,145.


The new Ordinary Shares are being placed with Mercury Holdings plc, as part of
their ongoing investment stategy. Mercury Engineering, part of the Mercury
Group of companies, are the leader in the building services sector in Ireland.
It is intended there will be discussions between Ovoca and Mercury Holdings
plc to explore areas of mutual interest which it is hoped may lead to future
business opportunities.


The proceeds of the placing, net of expenses, will be used in the Group's
ongoing exploration activities and not for any other development arrangements
which may arise from the Group's discussions with Mercury Holdings plc.


Application has been made to the Irish Stock Exchange for permission for the
new Ordinary Shares to be dealt on the Exploration Securities Market of The
Irish Stock Exchange.


Copies of this brochure are available from the Companies Office for two
business days from this date and from the Registered Office of Ovoca Resources
PLC .

For Further Information please contact:-

Mr Brendan Murphy

Fleishman Hillard Saunders,

Tel:- 01 618 8444

Mr Peter O'Carroll

Bloxhams Stockbrokers

Tel:- 01 611 9200

Mr. John O'Connor

Ovoca Resources PLC

Tel:- 01 491 2944

8th June 2001