Interim Results

Ovoca Gold PLC
14 September 2007

                                 Ovoca Gold plc

             Interim Results for the Half Year Ended 30th June 2007


Ovoca Gold Plc (AIM: OVG; IEX: OVX) ('Ovoca' or 'the Company') is pleased to
report its interim, unaudited, results for the six months ended 30th June 2007.


Highlights

  • Goltsovoye reserve increased to 78m oz silver from 74m oz silver by
    Wardell Armstrong International JORC statement.

  • Bankable Feasibility study scheduled for completion in Q4 of 2007.

  • 4,950 metres of drilling carried out on Kola properties.



Goltsovoye

Wardell Armstrong International (WAI) completed a JORC reserve statement in
February 2007, increasing the reserve body to 78m oz.  Goltsovoye is being
designed as an underground operation at a rate of 260,000 tonnes a year of ore.
Detailed mining and development schedules are underway with an emphasis on a
pre-production schedule to enable an early mining contract to be placed. SWM
have a detailed physical model of the orebody and recommend a mechanised
operation with some manual mining techniques in narrow orebodies. The BFS is on
schedule for completion before the end of this year.

The Environmental Impact Study by WAI is progressing and GBM Minerals
Engineering have designed a process plant to produce flotation and gravity
concentrates without the use of a cyanide circuit.

A project implementation schedule and details of planned staffing, sources of
labour and contractors is nearing completion.  The road from the main highway 38
kilometres away is being upgraded by our own equipment, which we recently
purchased.



Kola

After mapping and planning work the Company started a summer drilling programme
in May.  To date 4,950 metres of drilling have been completed and over fifteen
hundred samples have been sent for assay.  7 further holes and four trenches are
planned to complete the program.

From the assay results received to date the deep core drilling has confirmed the
extension of the Oleninskoye orebody #3 to a depth of over 300m.  Nyalm drilling
has intersected extensive zones of mineralised quartz stockwork intersected over
thicknesses of 7-15 meters with gold grades of 1.0 to 1,5 grammes per tonne
within which are high grade veins with gold grade of from 4,7 to 11,2 grammes
per tonne.  Drilling on the Pellapahk molybdenum, copper deposit has defined an
extensive mineralised zone with the potential to be very large.  The mineralised
zone remains open along strike.  There is a potentially similar sized satellite
deposit to the north outline by a similar geochemical anomaly to that of
Pellapahk which is as yet unexplored.

Commenting on the results, Ovoca Gold's Chairman, Roger Turner, said 'The
Goltsovoye silver deposit continues to gather pace with the reports of the
consulting team, and the completion of the Bankable Feasibility Study scheduled
before the end of the year.  This project will transform Ovoca Gold into a
global silver producer within the next 18 months.  Our team is on target to
bring the mine to production.  On the other side of Russia, the results from the
Kola exploration are encouraging and we are eagerly awaiting the assays from the
work done to date and the completion of the current drilling program there'.




Consolidated Profit and Loss Account                                        30 June            30 June
     for the six months to 30 June 2007                                        2007               2006
                                                                                  €                  €

     Administration expenses                                              (397,784)          (325,629)
     Other operating income

     Operating loss - continuing operations                               (397,784)          (325,629)

     Investment income (net)                                                 25,813            25,193

     Loss on ordinary activity before tax                                 (371,971)          (300,436)

     Tax

     Retained (loss) for the period                                       (371,971)          (300,436)

     Profit and loss at beginning of period                            (12,032,227)        (8,314,063)

     Profit and loss at end of period                                  (12,404,198)        (8,614,499)

     Attributable to
     Equity holders of the parent                                      (12,365,973)       (8,166,411)
     Minority interest                                                     (38,225)          (448,088)

                                                                       (12,404,198)        (8,614,499)

     Basic loss per ordinary share                                          (0.16)c            (0.19)c





Consolidated Balance Sheet                                                  30 June            30 June
     at 30 June 2007                                                           2007               2006
                                                                                  €                  €
Fixed Assets
     Intangible assets                                                   29,504,995          8,748,834
     Tangible assets                                                        182,747             85,818
     Financial assets
     Minority interest                                                     (38,225)          (448,088)
                                                                         29,649,517          8,386,564

Current Assets
     Debtors                                                                443,452          1,091,973
     Bank                                                                 1,014,586          6,209,636
                                                                          1,458,038          7,301,609

Creditors: Amounts falling due
     within one year                                                        651,144          1,439,573

Net current assets                                                          806,894          5,862,036

Net Assets                                                               30,456,411         14,248,600


Financed by
Capital and Reserves
     Called up share capital                                              7,947,650          7,870,325
     Share premium                                                       34,381,041         14,981,292
     Other reserves                                                          11,482             11,482
     Share Based Reserve                                                    520,436                 -
     Profit & loss account                                             (12,404,198)        (8,614,499)

                                                                         30,456,411         14,248,600





Consolidated Cash Flow Statement                                            30 June            30 June
     for the six months to 30 June 2007                                        2007               2006
                                                                                  €                  €

Net cash inflow/(outflow) from operating activities                       (744,649)            443,780

Returns on investment and servicing of finance
     Investment income (net)                                                 25,813             25,193
     Sale of tangible asset

Net cash (outflow)/inflow from returns
    on investment and servicing of finance                                (718,836)             25,193

Tax Paid

Capital expenditure and financial investment
     Purchase of tangible assets                                                  -           (79,874)
     Purchase of intangible assets                                      (1,717,613)          (594,549)

Net cash (outflow) from capital expenditure
   and financial investment                                             (1,717,613)          (674,423)

Acquisition and Disposals
     Purchase of subsidiaries                                                     -        (2,505,140)

Net cash outflow from acquisitions and disposals                                  -        (2,505,140)

Net cash outflow before financing
   and management of liquid resources                                   (2,436,449)        (2,710,590)

Financing and management of liquid resources
     Proceeds from issue of share capital                                    37,125          6,850,688
     Net cash transferred from liquid resources                                   -                  -

Net cash inflow from financing
   and use of liquid resources                                               37,125          6,850,688

Decrease/Increase in cash in the period                                 (2,399,323)          4,139,729







Group Recognised Gains and Losses                                           30 June              30 June
     for the six months to 30 June 2006                                        2006                 2005
                                                                                  €                    €

     Loss for the period                                                  (371,971)            (300,436)
     Exchange loss on foreign currency net investments                       -                  (35,984)


                                                                          (371,971)            (336,420)






Notes



 1. No dividend is proposed in respect of the period.

 2. The calculations of loss per share have been based on the retained losses
    after taxation and on a weighted average of 315,725,761 ordinary shares
    (2005 -155,605,257 ordinary shares) in issue during the period.

 3. The Unaudited results have been prepared on a going concern basis and on the
    basis of the accounting policies adopted in the Annual accounts for the year
    ended 31 December 2006.

 4. The interim report is Unaudited and does not constitute Statutory Accounts as
    defined in S.148 of the Companies Act 1963.  A copy of the Group's 2006
    Statutory Accounts has been filed with the Irish authorities.  The auditors'
    opinion on these Statutory Accounts was unqualified.

 5. The interim report for the six months to 31 August 2007 was approved by the
    Directors on 14 September 2007.





For further information contact

Mr. John O'Connor  + 353 1 633 0523



Ovoca Gold Plc is an international exploration company quoted in London (OVG.L)
 and Dublin (OVX.IR), exploring for precious and base metals in Russia, Sweden
                                  and Ireland


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