Issue of Equity

Issue of Equity under Equity Financing Facility



28th December 2012

Orogen Gold plc

('Orogen' or the 'Company')

Issue of Equity to raise £204,000

Orogen Gold Plc (AIM:ORE) is pleased to announce that it has raised £204,000, before expenses, under its £5 million Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Fund.

Under the terms of the EFF agreement the Company raised gross proceeds of £204,000 by way of the issue of 34,000,000 shares of 0.1p each to Darwin. The New Ordinary Shares have been issued at a price of 0.6p per share and will rank pari passu in all respects with the existing Ordinary Shares in Orogen.

The draw down on the EFF is the first undertaken by the company and the gross price per share represents a premium of 15% to the closing mid-market price per Ordinary Share on the 27th December, being the latest practicable date prior to this announcement.

Application will be made to the London Stock Exchange for the 34,000,000 New Ordinary Shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in the new Shares will commence on 7th January 2013 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise of 2,179,172,453ordinary shares with voting rights. This figure of 2,179,172,453 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Ed Slowey, Chief Executive of Orogen Gold Plc, commented:

"We are very pleased to have further boosted Orogen's cash resources at a significant premium to the current market price through the use of the Darwin EFF facility. The Company is now well funded to undertake the planned 2013 drilling and trenching programmes at our Deli Jovan gold project in Serbia. Given the successes achieved in 2012, we look forward to reporting further exciting news to shareholders in the coming year".

ENDS

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