Delisting from TSX

Patagonia Gold

("Patagonia Gold" or the "Company")

Delisting from TSX

Retention of primary listing on AIM

Patagonia Gold Plc (AIM: PGD, TSX: PAT), the gold producer and advanced mining exploration company with gold and silver projects in the southern Patagonia region of Argentina, announces that it has provided written notice to the Toronto Stock Exchange ("TSX") requesting the delisting of its ordinary shares from the TSX. The Company has received confirmation from the TSX that its ordinary shares will be delisted from the TSX with effect from the close of business on 12 July 2013.

Following the delisting from the TSX, Patagonia Gold's ordinary shares will continue to be traded on the AIM market of the London Stock Exchange ("AIM") under the trading symbol PGD.

The Directors believe that the minimal trading volume of the Company's shares on the TSX no longer justifies the expenses and administrative efforts associated with maintaining this dual listing. The Directors believe that Patagonia Gold's listing on AIM provides its shareholders with sufficient liquidity, as AIM accounts for nearly all of the Company's current trading volume. Further, the Directors believe that administrative and regulatory efficiencies will be achieved by focusing on the single listing.

The Directors believe that the voluntary delisting will have no impact on the Group's ongoing operations, nor on its ability to raise further funds, if required, in the future to progress continued development of the Group's projects. The Directors also believe that shareholders will benefit from the simplified focus and lower cost resulting from the maintenance of only the Company's original AIM listing.

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