Re: Acquisition

Ovoca Resources PLC
13 November 2003

                                 PRESS RELEASE



Ovoca Resources Plc (OVG.I Dublin and OVG.L London)

Date:   13 November 2003


Ovoca Negotiating Acquisition of Swedish Gold Properties from MinMet


The board of directors of Ovoca Resources plc ("Ovoca") announces that they are
in advanced negotiations and are finalising due diligence on the purchase by
Ovoca of a 100% interest in a number of gold explorations concessions in
Northern Sweden from Minmet plc ("MinMet") (collectively the "Swedish Properties
").


It is anticipated that consideration for the acquisition of the Swedish
Properties would be satisfied by the issue of approximately 11m new Ovoca shares
("Consideration Shares") to MinMet, representing approximately 22.5% of the
enlarged share capital in Ovoca.  The Consideration Shares would have
restrictions on their future disposal.  It is intended that MinMet will be
represented by two directors on the Board of Ovoca, one of whom will be an
experienced geologist and who will act as Ovoca's Chief Operations Officer in
Sweden.  MinMet will also supply logistical and administrative support to
Ovoca's future Swedish operations from its base at the Bjorkdal gold mine, near
Skelleftea, in Northern Sweden.



The Swedish Properties include concessions at Klippen (1,602ha), Krokliden
(2,350ha) and Umgransele (2,965ha).  In addition, four new concession areas
identified for their gold mineralisation by MinMet from its exclusive
geochemical database of Sweden are in the process of being claimed and when
awarded will be transferred to Ovoca.



Ovoca will maintain its current licences for zinc in Ireland pending a recovery
in the world zinc market and will continue to work to attract joint venture
partners to its wholly owned Newcastlewest project.  Ovoca also confirms
negotiations to purchase 50% of Copper Hill Exploration in Canada have been
suspended due to the emergence of the opportunity in Sweden.  Ovoca continues to
hold 50% of Optimum Energy, it's energy storage project in Ireland.



Commenting on the proposed acquisition of the Swedish Properties, Ovoca
Chairman, Paul Smithwick said, "We are pleased to have the opportunity to
acquire these highly prospective gold properties along the emerging "Gold Line"
in the Skelleftea belt in Northern Sweden.  We are encouraged by the geological
potential of the area and also by the fact that projects in Northern Sweden can
be successfully brought into production, as evidenced by Dragon Mining N.L.'s
receipt of approval to proceed with the development of their Svartiliden gold
property, adjacent to MinMet's Krokliden concession, part of the package being
purchased by Ovoca."



Ovoca looks forward to updating shareholders on this project and other
developments in Ovoca at their upcoming AGM which takes place at 11.00 a.m. on
the 28th November in the Berkeley Court Hotel, Dublin.



ENDS



For further information

Richard O'Shea  Managing Director - Ovoca Resources plc  Ph : 00 353 87 256 0397
John O'Connor   Company Secretary - Ovoca Resources plc  Ph : 00 353 1 491 2944





This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.






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