OVG Ovoca Gold

RNS No 5575j
OVOCA RESOURCES PLC
25th January 1999

OVOCA RESOURCES PLC ("OVOCA")

Ovoca announces that it has placed 1,890,000 Ordinary Shares at Euro0.42
(IR33p) per share, to raise Euro793,800 (IR# 625,168 ) before expenses. The
proceeds of the placing, net of expenses, will be used to fund ongoing
exploration work on the Company's Irish base metal targets.  Following the
placing, the total number of IR2p Ordinary Shares in issue will be 27,468,145.
Application will be made to the Irish Stock Exchange for the new Ordinary
Shares to be quoted on the Exploration Securities Market of the Irish Stock
Exchange.

The Company is currently drilling on a licence area in Co. Tipperary. An
initial drill hole at this site has been completed and a second hole is now in
progress to test a particular aspect of the geophysical structure. The Company
is also engaged in detailed survey work on target sites in Co. Galway and Co.
Roscommon. Drilling is planned on these properties in the near future.

Copies of this brochure are available from the Companies Announcement Office
for two business days following this date and for 14 days from the Registered
Office of Ovoca Resources plc.

For further information please contact:

James Morrissey,
Fleischman Hillard Saunders
Tel: (01) 618 8444


END

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