Issue of Equity

Mercator Gold PLC 20 December 2006 London 20 December 2006 - Mercator Gold PLC (AIM:MCR) MERCATOR GOLD PLC ('Mercator Gold' or the 'Company') ISSUE OF SHARES The Company announces that pursuant to the terms of the Convertible Loan Notes with a nominal value of £1,000,000 issued, under a placing, on 14 December 2005 (the 'Convertible Loan Notes'), five holders of the Convertible Loan Notes have elected to receive ordinary shares of 10p each in the Company (the 'Shares') instead of a cash payment of interest. The Company will issue 4,997 Shares at 60p each, which will result in a cash saving of £2,998.20. Application has been made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM. For further information please contact: Mercator Gold plc Patrick Harford Managing Director Tel: +44 (0) 20 7929 1010 Email: info@mercatorgold.com Website: www.mercatorgold.com Parkgreen Communications Justine Howarth / Ana Ribeiro Tel: +44 (0) 20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange AKKKPBBDDBBB

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