Placing

Ovoca Gold PLC
07 June 2006



    Ovoca Gold Plc advances following completed £5 million Private placement


Ovoca Gold Plc (AIM: OVG; IEX: OVX) wishes to announce the successful completion
of a private placement to raise £5 million. A total of 60,408,452 new Ordinary
Shares and 30,204,226 Warrants were placed. The placing consists of one share at
8.25p, with one warrant attached to every two shares subscribed for, at a price
12p, exercisable by 30 November 2007.

The funds raised are to be deployed on the evaluation and development of the
recently acquired silver deposit Goltsovoye, located in the Magadan Oblast of
north-east Russia, in addition to advancing the company's other projects in the
Kola Peninsula and in Scandinavia.

On 18 April 2006, Ovoca Gold announced that it was acquiring a 74% interest in
CJSC Ayax Prospectors Artel Company, the owner of the Goltsovoye licences. The
acquisition consideration is met via the issue of 110,001,518 shares and a
deferred payment of US$1 million in cash.

The new Russian directors, who joined the Ovoca Gold Board following the
approval of the acquisition of the interest in CJSC Ayax, subscribed £2.01
million of the £5 million private placement.

In connection with the placing Ovoca Gold will issue 1.8 million broker warrants
to DBM Capital, at a price of 12 pence exercisable by 30 November 2007.


  Ovoca Gold Plc is an international exploration company with dual listing 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:

Dr Barrie Oakes, CEO - Ovoca Gold Plc            Roger Turner, Chairman - Ovoca Gold Plc
Tel: [phone]                         Tel: [phone]
Email: [e-mail]                Email: [e-mail]

John O'Connor, Secretary - Ovoca Gold Plc        Simon Beardsmore, Commercial Manager - Ovoca Gold Plc
Tel: [phone]                          Tel: [phone]
Email [e-mail]                 Email: [e-mail]

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

Nick Bias / Alex Buck - Buck Bias (UK PR)        Tom McCormack - Connexions PR (Irish PR)
Tel: [phone]   Tel: [phone]
Email: [e-mail] / [e-mail]     Email: [e-mail]


7 June, 2006


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