Re: Swedish Concession

Ovoca Resources PLC 31 August 2004 STARTS Good Gold Grades for Ovoca on Swedish Concession Ovoca Resources Plc (Ovg.i Dublin : Ovg.l London) is pleased to announce an update on the company's on-going exploration programme in northern Sweden. Nottjarn Licence Area. The Nottjarn concession was claimed by Ovoca in May 2004. Reconnaissance geological mapping and geochemical sampling have been completed. These results have indicated two different target types. 1. Mesothermal quartz veins with values of 12.8 g/t gold, 26 g/t silver and 1.1 % copper. 2. Porphyry style copper - gold mineralisation with values of 0.48 g/t gold, 3 g/t silver, 0.4% copper and 0.04% molybdenum. An area of outcrop (200 metres long by 20 metres wide) along a road cutting is characterised by a medium - grained granodiorite with clear evidence of hydrothermal alteration. Channel samples have returned consistent Cu, Mo and Au values. The best values sampled to date are 0.48 g/t Au, 3 g/t Ag, 0.4% Cu and 0.04% Mo. East of the roadside exposure the potassic - altered granodiotite is cut by sub-parallel quartz veins up to several metres thick. They contain trace to 1% sulphides (mainly chalcopyrite - possibly trace chalcocite). Nottjarn displays many characteristics of a porphyry - style system. The geochemistry, potassic alteration, and multiple phases of intrusion support the porphyry model. Current bedrock exposure is only about 2%. Ground magnetic data indicates significant potential to extend the aerial extent of the mineralised granodiorite beneath the till cover. Klippen Licence Area. • Trench samples with 2 metres at 2.8 g/t gold, 22.4 g/t silver, 0.04 % arsenic and 0.5 % copper. During May and June 2004 Ovoca undertook a trenching programme designed to extend the mineralised zone found by Terra Mining. Mineralisation comprises mainly fracture-controlled and disseminated coarse-grained sulphides (chalcopyrite, arsenopyrite, pyrrhotite and pyrite) hosted by a weakly porphyritic granodiorite. The best intersect coincides with a north striking fracture that gave 2 metres at 2.8 g/t gold, 22.4 g/t silver, 0.04 % arsenic and 0.5 % copper. The results show that the mineralised zone defined by Terra Mining does not extend along strike. Further mapping and sampling in the south east of this extensive licence area has outlined a mineralised silicic unit. This is approximately 10 metres wide and appears to follow the regional bedding orientation. It contains disseminated arsenopyrite and gave gold values of 1.89 g/t. A full review of the geochemical data for the Klippen area with geochemical anomalies ranked in priority order for follow up work is currently underway. Mr Richard O Shea CEO stated "The results obtained from Nottjarn are extremely encouraging. Work over the next few months will concentrate on increasing the extent of these mineralized zones. Ovoca is working towards developing a balanced portfolio of projects along the "Gold Line" in Sweden. We are also advancing several other of our Concession Areas and will be updating shareholders on developments on these over the coming months." Date : 31 August 2004. For further information contact Mr Richard O'Shea CEO Ovoca Resources plc Ph + 353 (0)87 256 0397 www.ovoca.ie ENDS 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