Exercise of Options

Patagonia Gold Plc

('Patagonia Gold' or the 'Company')

Exercise of Options

The Company announces that, following the exercise of share options, application has been made for the admission of 906,000 ordinary shares of 1p each in the Company ("New Ordinary Shares") to trading on AIM. The New Ordinary Shares will rank pari passu with existing ordinary shares and it is expected that admission will occur at 8.00 a.m. on 20 February 2014.

Following admission of the New Ordinary Shares, the total number of voting rights in the Company's ordinary shares will be 859,839,565.

Enquiries:

Bill Humphries, CEO

Patagonia Gold Plc

Tel: +44 (0)20 7409 7444

David Bick / Mark Longson

Square 1 Consulting

+44 (0)20 7929 5599

Angela Hallett/James Dance

Strand Hanson Limited

Tel: +44 (0)20 7409 3494

Rory Scott

Mirabaud Securities LLP

Tel: +44 (0)20 7484 3510