Issue of new shares

Mercator Gold PLC
28 January 2005


FOR IMMEDIATE RELEASE                                            28 January 2005



                MERCATOR GOLD PLC ('MERCATOR' or the 'Company')

                              Issue of new shares


The Company has issued 20 million new ordinary shares of 1p each pursuant to its
election to take up a 45 per cent. interest under the Annean Joint Venture, as
per the announcement of 18 January 2005.

The new ordinary shares rank pari passu with the existing ordinary shares in
issue.

Application has been made for the 20 million new ordinary shares to be admitted
to trading on AIM.



For further information, please contact:

Michael de Villiers                                            Tel: [phone]
Finance Director
Mercator Gold

Roland Cornish                                                Tel: [phone]
Chairman
Beaumont Cornish


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