Repayment Of 9.25% Convertible Loan Note & Issue of Shares

(“Mercator Gold”, “Mercator” or “the Company”)




LONDON: 15 JUNE 2007 -The Company announces that pursuant to the terms of the Convertible Loan Notes issued under a placing on 14 December 2005 (the "Convertible Loan Notes"), the remaining four holders of the Convertible Loan Notes have elected to convert their Loan Notes for £943,500 Principal Amount to Ordinary Shares (the “shares”) of 10p each in the Company at a conversion price of 60p each. The holders have also elected to receive all the accrued interest due under the terms of the Convertible Loan Notes in the form of shares at a conversion price of 60p each. The Company will issue 1,645,827 shares in full and final settlement of all the Convertible Loan Notes.

Application has been made for the shares, which rank pari passu with all existing shares, to be admitted to trading on AIM. Dealings in the new Ordinary Shares are expected to commence on 19 June 2007. The total number of shares with voting rights is 62,244,912.


For further information please contact:

Mercator Gold plc    
Patrick Harford, Managing Director Tel: +44 (0) 20 7929 1010
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.    
Bankside Consultants Ltd Tel: +44 (0) 20 7367 8888
Simon Rothschild    
Keith Irons    
Oliver Winters    


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