Result of EGM

Mercator Gold PLC
18 January 2006



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

                Results of Extraordinary General Meeting ('EGM')

London 18 January 2006 - Mercator Gold Plc (AIM: MCR)
The Company is pleased to announce that at the EGM held earlier today, all the
resolutions were duly passed, including those necessary to approve the
acquisition of the gold exploration and mining assets at Meekatharra, the
placing and the 1 for 10 share consolidation.

The Company is also pleased to announce that it has raised £9,115,000 before
expenses (in addition to the £1,000,000 raised via the convertible loan note in
December 2005) under the placing and this will allow the Company to complete the
acquisition.

Following the issue of the new shares in relation to the acquisition and the
placing and following the share consolidation, there will be a total of
39,118,350 ordinary shares (of 10p par value) in issue and these are expected to
commence trading on AIM on Friday, 20 January 2006.

On admission to AIM, the Directors' shareholdings in the Company will be:

                Number of issued   Percentage of issued  Number of   Number of
                 Ordinary shares        Ordinary shares   Warrants     options

Terrence Strapp          120,000                  0.31%        Nil     475,000
Patrick Harford        1,650,000                  4,22%        Nil   1,100,000
Michael de Villiers      227,000                  0.58%     67,000     325,000
Dr. Julian Vearncombe    360,000                  0.92%     40,000     575,000
Michael Elias             20,000                  0.05%        Nil     125,000
Nick Allen                   Nil                     -         Nil     125,000

Note: Existing shareholders who are uncertain as to the number of shares they
will hold following the share consolidation should consult an independent
financial adviser authorised under the Financial Services and Markets Act 2000.


For further information please contact:

Mercator Gold plc
Patrick Harford, Managing Director              Tel: [phone]
Terry Strapp, Chairman                          Tel : [phone]
Michael de Villiers, Finance Director           Tel: [phone]
Email: [e-mail]
Web: www.mercatorgold.com

Beaumont Cornish Limited
Roland Cornish / Felicity Geidt                 Tel: [phone]
Ocean Equities Limited
Will Slack                                      Tel: [phone]

King & Shaxson Capital Ltd
Nick Bealer                                     Tel: [phone]
Parkgreen Communications
Justine Howarth / Ana Ribeiro                   Tel: [phone]



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