Proposed Joint Venture

Ovoca Resources PLC
17 January 2001


Ovoca Resources Plc

Re: Proposed Joint Venture


Ovoca Resources Plc wish to announce that it has signed a 'Heads of Agreement'
document with Amcorp Ireland Limited in relation to a proposed joint venture
agreement.  Under this proposed agreement Amcorp will have the right to earn a
51% interest in 15 licence areas contained in the Cahir Co Tipperary and North
Galway licence blocks for a proposed expenditure of US$500,000.  A four year
earn in period is envisaged.  The proposed arrangements are conditional on
execution of a mutually acceptable definitive agreement.



For further information contact:

James Morrissey, Fleishman-Hillard Saunders, [phone]    or
Mr Frank Buckley, Ovoca Resources Plc, (027) 70822