Ovoca Gold plc, Special/Extraordinary Shareholders Meeting, Jan 16, 2013.

Ovoca Gold plc reported unaudited consolidated earnings results for the six months ended June 30, 2012. For the period, the company reported operating loss of EUR 2.000 million compared to operating profit of EUR 7.55 million a year ago. Loss for the period before tax was EUR 2.158 million compared to profit for the period before tax of EUR 7.258 million a year ago. Loss for the period from continuing operations or loss attributable to owners of the parent was EUR 2.158 million or 0.02 cents per basic and diluted share, compared to profit for the period from continuing operations of profit attributable to owners of the parent of EUR 7.170 million or 0.08 cents per basic and diluted share, a year ago. Net cash flow from operating activities was EUR 5.35 million compared to EUR 3.31 million a year ago. Expenditure on exploration activities EUR 1.49 million compared to EUR 2.75 million a year ago. Purchase of available for sale assets was EUR 1.36 million. Purchases of property, plant & equipment was EUR 0.486 million compared to EUR 1.911 million a year ago. The company reported operating results for the six months ended June 30, 2012. For the period, the company reported a total of 8 diamond drill core holes for 1,580 metres were completed. Drilling tested various depths less than 350 metres vertical from surface and locations across a 1,000 metre long by 350 metre wide gold-silver mineralized zone. A total of 15 diamond drill core holes for 2,229 meters were completed. Drilling was undertaken over a 2km strike length with maximum depths down to 200m vertical from surface. Gold fire assay results were received for 325 samples. Alteration and mineralisation zones composed of typical banded epithermal quartz-adularia veining were found to continue at depth and along the strike length from Ovoca Gold's trenching and drilling completed in 2011. A total of 600 linear meters of trenches were completed to identify potential targets for drilling. A 20 metre wide primary stockwork type quartz-carbonate vein system was discovered in the trenches near two historical surface float rock chip samples that have assay values of 24g/t and 60g/t gold, centred on an east-west striking creek so is covered with alluvial rocks. Reconnaissance geological mapping identified a new prospect with extensive epithermal quartz veins on the surface. Historical surface float rock chip assays have gold values up to 5.0g/t. A 50m trenching program tested the area.

Ovoca Gold plc provided an update on its ongoing 2012 field work on its Stakhanovskiy and Rassoshinskaya projects. At the Stakhanovskiy Project, the bulk sampling mill continues to perform in line with expectations. Assay results are being received from the Knelson concentrator tailings and shaking table products. At the Rassoshinskaya Project, NQ-sized diamond core drilling has been undertaken at the Bazaar Prospect, located 2km to the east of Podgorniy and 65km to the north of the Olcha JORC Inferred resource. The final assay results at the Zet Prospect demonstrate that the typical mineralization at this prospect is composed of small high grade gold-silver quartz-adularia veining within a broad zone of low grade, but anomalous, gold and silver values. At the Podgorniy Prospect, moderate grade gold mineralisation was shown to continue to 356m vertical depth from surface. Scenarios for significant gold-silver resources at Podgorniy and Zet have now been reduced. At the Rassoshinskaya Project, field work was focused during the month on new prospect, Bazaar, with trenching and diamond drilling exposing a significant extensive high sulphidation alteration pyrite-rich system. The first assays should be received soon. At the Agromniy Prospect, a trench exposed a 250m long quartz vein containing lead and silver with very high gold and silver assays from surface float samples. More trenching is planned to test the widths along this strike length. With the current targets at Bazaar and Agromniy, and a further porphyry copper-gold target to test at the Vist Prospect, exploration success for this field season may be achieved. Zet Prospect: all finalized assay results were received from diamond drilling. The historical and current results show that although there are some high gold and silver assay grades within this 2.5km long multiple quartz vein system, the widths of mineralization are not large enough to warrant a resource drill out at this stage. The drilling and trenching suggest that Zet could contain enough mineralization to be developed as a small open pit satellite mining operation if another larger orebody could be developed on the project. A full assessment of all exploration results with recommendations for field work is to be undertaken next year. Podgorniy Prospect: a deep drill hole tested the extent of the depth of gold mineralization in the central zone. A significant gold intersection was found deep in this drill hole and indicates that gold-silver mineralization persists at considerable depth in the central zone. Bazaar Prospect: five NQ core drill holes for 1,050m were completed. Two diamond drill holes were completed beneath a single 600m long trench where quartz-pyrite stockwork and barite mineralization was discovered. These two holes indicated significant alteration and tectonic structures trended towards an unconformity. An additional three drill holes were completed along 800m of strike towards and across the unconformity, west of the trench. A total of 196 samples for assay were taken from the most favorable zones initially. In the most westerly located drill hole (BDD-04) intense silica, pyrite, clay, and white mica alteration was discovered around the contact between Devonian volcanic rhyolite and Proterozoic basalt. The drill hole was extended to 289m depth, well beyond its planned 150m depth. The drill hole continued in 5% pyrite alteration. This is the first time high sulphidation type mineralization has been discovered at Rassoshinskaya with extensive veining, breccia and metasomatic associated pyrite. This type of gold mineralization is common in the South American Andes but not in the Russian northeast and illustrates the potential for a new deposit type that may have been overlooked by previous government geological expeditions. Agromniy Prospect: an east-west oriented trench of approximately 1,000m was completed, which uncovered basement rocks beneath colluvium which was found to have rock chips anomalous in gold and silver. A continuous quartz vein containing extensive silver and lead mineralization, at least 250 meters long, was exposed on the contact with Cambrian dolomite and Devonian tuff. Three trenches are planned perpendicular to the vein to assess the width, and channel samples are to be collected. Five chip sample composites from the trench have been taken for assay. Stakhanovskiy Project: the bulk sampling plant is continuing to process budgeted volumes at Stakhanovskiy. Since 3 June 2012, the hard rock gravitation bulk sampling plant has averaged 204 tones per each 24 hour period. 16,586 tones of hard rock from the Berezitoviy and Zabolocheniy ore bodies have been processed to date for 2012. The gravity concentrates and samples from the bulk sampling mill on the Stakhanovskiy site have been collected. All Knelson concentrates from Berezitoviy (original sample 3,561 tonnes) have been processed by shaking table (4,284 kg) in Magadan and the products are being fire assayed by Alex Stewart Laboratories in Moscow. Some assay results have been received but verification is required. Additional assays from mill tailings are needed before an average gold grade for the bulk sample from two different trenches at Berezitoviy can be calculated. At Zabolocheniy, a 25m long by 0.9m wide, continuous quartz vein containing extensive visible gold was exposed in basement rock from a 50m by 20m rectangular bulk sampling surface trench. This illustrates that the Company's decision to bulk sample test the deposit is well founded, as prediction is that the resource gold grade may well have been previously underestimated due to a coarse gold distribution.