Drilling Results

Ovoca Resources PLC
23 May 2005


                                                                   NEWS RELEASE


    May 23, 2005





Ovoca Resource plc ('Ovoca' or the 'Company')



                            Phase 1 drilling results

    on the Kolmozero-Voronya platinum and gold property in north west Russia





Ovoca Resources plc (OVG.I Dublin and OVG.L London) releases the results of 7
diamond drillholes from the recent Phase 1 exploration programme conducted by
Norplat Limited, of which Ovoca recently acquired a 78% equity interest.  The
drilling was on the Oleninskoye prospect situated on Norplat's 152 square
kilometre Kolmozero-Voronya licence in the Kola Peninsula of Northwest Russia.



Oleninskoye is one of eight previously defined gold bearing structures within
the licence area.  In addition to gold, significant platinum bearing formations
have been intersected within the host formations of the gold mineralised
structures.  Platinum had not been considered a target during previous Soviet
exploration.  The analysis of core samples from historical drilling, trenching
and the Phase 1 programme revealed significant grades of platinum mineralisation
in host rocks similar to known platinum group bearing formations in the Kola
Peninsula at the Pana, Monchegorsk and in Finland.



These platinum bearing formations are known, from surface mapping, to be
extensive within the 152 square kilometre licence.  Grades of up to 3.6 grammes
per tonne platinum were intersected in hole BF033 and the re-assay of old Soviet
samples show platinum mineralised widths of up to and over 10 metres on the
Oleninskoye prospect.  So far assay results indicate that platinum is dominant
with palladium in minor amounts.  Drilling results were supported by surface
trenching on the Central and Southern zones with trench assays of up to 50.2
grammes per tonne gold over 1.0 metre in the Southern Zone (K-027) and with 2.0
metres at 12.0 grammes per tonne gold and 3.5 metres at 13.57 grammes per tonne
gold in trenches K-15C and K-13C respectively in the Central Zone.



In addition to the platinum results, high grade intersections of gold bearing
quartz veins and stockwork were intersected over several metres in width with
grades of up to 83.8 grammes per tonne gold over a width of 2.8 metres in hole
BF028.  This high-grade intersection was supported by two historical drillhole
intersections of 3.2 metres at 15.1 grammes per tonne and 2.7 metres at 16.7
grammes per tonne.



The intersection of both platinum and gold mineralisation in the same drill
holes indicates a spatial and structural relationship although the two types are
not genetically related.



SRK Consulting has reviewed the historical data as well as the data from this
Phase 1 exploration programme and has reviewed the estimation and methodology
for calculating a resource for the Oleninskoye prospect.  SRK concluded that the
combined resource of 900,000 ounces of gold for the Oleninskoye and also the
Nyalm prospects has been estimated and classified in line with Russian norms as
P1.



Ovoca has commenced its second phase drilling programme on the licence with a
7,000 metre drilling programme.  To date 4 diamond drillholes have been
completed, all of which intersected mineralisation. Assay results on these
drillholes will be released as soon as they become available.








Summary of Oleninskoye Central Phase 1 Diamond Drill Hole Assays
    Hole            From     To     Intersection        Gold     Silver      Platinum   Palladium
   Number     (metres)                                           (grammes/tonne)
C-BF027            124.8  125.9              1.1        1.04      <0.02
                   150.4  152.5              2.1        1.80       0.18
              Including                      0.5        4.20      <0.02

                   166.7  169.3              2.6                                 1.28        0.52
              Including                      1.6                                 1.78        1.30
                   215.2  218.9              3.7        3.70       0.63
              Including                      1.7        4.97       1.31
   C-BF028          85.3   86.0              0.7                                 0.20        0.23
                   108.4  113.2              4.8       48.99      22.34
              Including                      2.8       83.81      37.68
                   130.1  133.9              3.8                                 0.56        <0.1
                   145.3  146.5              1.2        0.88       0.86          2.23        <0.1
                   152.5  154.8              2.3                                 1.40        <0.1
                   179.2  180.1              0.9        3.23       0.47
                   184.4  185.7              1.3                                 0.90        <0.1
                   187.2  187.6              0.4                                 0.50        <0.1
                   191.6  192.2              0.6                                 0.60        <0.1
                   223.5  224.5              1.0                                 1.10        <0.1
                   226.3  227.0              0.7                                 1.10        <0.1
                   229.2  230.6              1.4        1.19       1.02
   C-BF029         120.6  121.8              1.2        2.90       1.44
   C-BF031          62.4   80.0             17.6                                 0.43        0.27
              Including                      1.0                                 0.85        1.25
              Including                      2.0                                 1.41        1.47
                    64.5   65.1              0.6        4.85       2.87
   C-BF032           5.9    8.5              2.6        0.42       0.19
                    19.1   20.5              1.4        0.23       1.08
                    23.7   25.6              1.9        0.19       0.18
   C-BF033          24.9   26.5              1.6                                 0.10        0.18
                    30.0   31.5              1.5                                 0.13       <0.05
                    47.9   48.7              0.8                                 3.60        0.18
                    60.7   62.1              1.4                                 0.34       <0.05
                    82.5   83.2              0.7                                 0.18        0.13
                    95.9   96.7              0.8                                 0.15       <0.05
C-BF039             59.2   60.2              1.0        1.71       0.41
                    66.5   71.9              5.4        3.24       0.60
              Including                      2.0        8.30       0.31
                    88.3   90.3              2.0        0.54       0.52
                    98.3   99.3              1.0        0.33       0.23
                   103.3  105.0              1.7        0.38       0.15
                   106.9  107.9              1.0        0.46       0.17
                   115.7  118.3              2.6        0.86       0.45
                   136.4  137.4              1.0        0.96       0.61
                   149.5  151.5              2.0        0.31       0.43
                   163.3  164.3              1.0        0.30       0.65
                   165.3  166.2              0.9        0.65       0.85
                   193.2  194.2              1.0        2.10       0.44
                   222.2  223.6              1.4        <0.3       0.36          0.36       <0.05










Oleninskoye Phase 1 Trenching and Resampling Programme
Central Zone             Intersection      Gold      Platinum
                            metres           grammes/tonne
K-15C                        2.0           12.0
K-13C                        11.6           4.5        0.81
Including                    3.5           11.0         1.3

Southern Zone
K-027                        1.0           50.2
K-028                        4.5            2.3
K-034                        5.3           1.32





Dr Barrie Oakes, CEO of Ovoca Resources, stated, ...  "We are delighted with
these results and we are eagerly awaiting the first assays from the second phase
drilling programme.  We believe that the eight platinum and gold prospects
within the existing 152 square kilometre licence will add considerable value to
the Company as we continue our work programmes.  We plan to accelerate the work
rate now that Norplat is part of Ovoca Resources."





Contacts

Barrie Oakes                                                     +44 (0)795
1139266

Roger Turner                                                      +44 (0)1273
495500

John O'Connor                                       [phone]

Richard O'Shea                                                  [phone]
397

John Frain (Davy Corporate Finance)                    [phone]







This announcement has been issued through the Companies Announcement Service of
                           the Irish Stock Exchange.




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