OVG Ovoca Gold

RNS Number:9601Y
Ovoca Gold PLC
27 February 2006


Ovoca Gold plc ("Ovoca")


OVOCA INCREASES SHAREHOLDING IN NORPLAT TO 86%





Ovoca (OVG.L, London; OVX.IE, Dublin) announces that today it has acquired an
additional 12,112,543 ordinary shares in its subsidiary Norplat Limited, ("
Norplat") in consideration of the issue of 13,323,798 new Ovoca ordinary shares
of Euro0.025 each ("Ordinary Shares").



As a result, Ovoca now has 135,411,040 Ordinary Shares in issue and has
increased its shareholding in Norplat to 86%.



As part of this transaction, the following directors and their connected persons
have disposed of their remaining shareholding in Norplat and their previous and
current shareholding in the Company is as follows:


                            Previous          Previous          Current         Current
                             Holding             %              Holding            %

Roger Tuner                 2,864,438          2.35%           3,850,001         2.84%
Barrie Oakes                3,719,889          3.05%           4,994,108         3.69%
Guy Pas                     3,964,536          3.25%           5,555,000         4.10%



Under the terms of the May 2005 Norplat Option Agreement, Ovoca retains the
right to acquire the remaining ordinary shares in Norplat which it does not
already own, on the same terms, until 10 May 2007 (i.e. eleven new Ordinary
Shares for every ten Norplat ordinary shares).



Commenting on this increase in Ovoca's shareholding in Norplat, Chief Executive
Barrie Oakes stated "Following results from the 2005 drilling and trenching
programme in the Kola region of Russia, the acquisition of additional licenses
in the area to cover more highly prospective ground and the exercising of the
outstanding Norplat warrants the board has decided that this is an opportune
time for Ovoca to increase its equity holding in Norplat."





For further information please contact



Barrie Oakes                  CEO
  +44 (0)795 1139266

Roger Turner                  Chairman
+44 (0)7739 092 813

Kevin Lynch                   Nabarro Wells & Co Limited            +44 (0)20
7710 7400
John Frain                      Davy Corporate Finance                   +353 (0)1 679 6363

Tom McCormack          Connexions PR                                 +353 (0)86
245 4215


               +353 (0)1 230 3015



This announcement has been issued through the Companies Announcement Service of



                            The Irish Stock Exchange






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

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