Ovoca Bio Regulatory News (OVB)

7 Jun 2006 11:22

Ovoca Gold PLC07 June 2006 OVOCA GOLD PLC COMPLETION OF AYAX ACQUISITION AND NEW BOARD APPOINTMENTS Ovoca Gold Plc (AIM: OVG; IEX: OVX) is pleased to announce that following theExtraordinary General Meeting held today in Dublin, shareholders have approvedthe acquisition of a 74% interest in CJSC Ayax Prospectors Artel Company, theowner of the Goltsovoye silver licences and the appointment of three newdirectors to the Board: Leonid Pavlovich Skoptsov, Yuri Ivanovich Radchenko andMikhail Alexandrovich Mogutov. The new Board members bring a wealth of Russianfocussed mining and business experience to Ovoca Gold. Information on the Proposed Directors Leonid Pavlovich Skoptsov (Aged 52) Mr Skoptsov was born in Krasnodar in southern Russia and graduated from theMoscow State University in 1979. Mr Skoptsov is a shareholder and Chairman ofthe OAO Pervaya Gornorudnaya Companiya, which in 2002 discovered the Pavlovskoedeposit, a large lead-zinc deposit containing silver in the Yuzhny Isle of theNew Land archipelago. Mr Skoptsov was Chairman of OAO Volganeft in Samara Oblastuntil December 2004, which was acquired by the Russian oil company Russneft andis a shareholder and Director of the Magadan Geological Expedition and a numberof other companies with exploration licences for precious metals in easternSiberia and Transbaikalia. Yuri Ivanovich Radchenko (Aged 55) Mr Radchenko was born in Almaty, Kazakhstan and graduated as a geologist fromthe Kazakhstan Polytechnical Institute. From 1975 Mr Radchenko worked with theDukat Exploration Expedition, starting on the Dukat gold-silver deposit and in1991 was appointed head of the Dukatsky Exploration Expedition where he wasinvolved in prospecting, exploration and assessment of the Julietta deposit andmany other exploration programmes. In 1994 Mr Radchenko assisted with thefoundation of and managed OAO Dukatsky Mining Geological Company which completedthe exploration of the Julietta deposit and undertook other explorationactivities in the Magadan Oblast including a programme to study and develop thecopper porphyry deposits in north east Russia. In 1995 Mr Radchenko founded thejoint venture Omsukchansky Mining Geological Company with Arian ResourcesLimited, a company, subsequently acquired by Bema Gold Corporation, which wasinvolved in the development of the Julietta mine. In July 1998 Mr Radchenko wasawarded the 'Order of Honour' by the President of the Russian Federation for hiscontribution in the development of the mineral law of the Magadan Oblast andalso was awarded the Diploma of 'Mineral Deposit Discoverer' as discoverer ofthe Lunnoe gold and silver deposit. Mikhail Alexandrovich Mogutov (Aged 50) Mr Mogutov was born in Shakhtersk town, Sakhalin Oblast, Russia. Mr Mogutovgraduated from the Moscow Physics Technical Institute with a degree in moleculargenetics and chemistry of high velocity processes and is a doctor of biology. MrMogutov is currently President of OOO Bioprocess Holding, Chairman of OAO Biomedand is an Assistant to a Federation Council Member of the Federal AssemblyFederation Council of Russia. Mr Mogutov is currently a board member of a numberof Russian companies in the resources, industrial and chemical sectors. In addition, Ovoca Gold is also pleased to announce the further strengthening ofits Russian operational team with the appointment of Mr Sergey Salamantin asGeneral Director of CJSC Ayax Prospectors Artel Company, which is now asubsidiary of Ovoca Gold Plc. Mr. Salamantin has extensive experience in minedevelopment in the former Soviet Union and joins Ovoca Gold from Oxus Gold Plc,where he was Deputy General Director of the Amantaytau Goldfields in Uzbekistan. In welcoming the new Board members, Roger Turner, Chairman of Ovoca Goldcommented, "I am delighted that shareholders share my enthusiasm for the threenew Board directors in approving their appointment. I believe that Goltsovoye isan exciting project for us, and I am pleased that we have bolstered our Boardand operational management skills to carry the project forward rapidly toproduction." Ovoca Gold Plc is an international exploration company with dual listing in London (OVG.L) and Dublin (OVX.IR), exploring for precious and base metals in Russia, Sweden and Ireland The new Ovoca Gold Plc Board comprises: Chairman: Roger TurnerCEO: Barrie OakesCFO: Danesh VarmaSecretary & Non Exec Director: John O'ConnorNon Exec Director: Harry DobsonNon Exec Director: Mr Mikhail Alexandrovich MogutovNon Exec Director: Richard O'SheaNon Exec Director: Guy PasNon Exec Director: Mr Yuri Ivanovich RadchenkoNon Exec Director: Mr Leonid Pavlovich SkoptsovNon Exec Director: Paul Smithwick For further information please visit www.ovocagold.com or contact: Dr Barrie Oakes, CEO - Ovoca Gold Plc Roger Turner, Chairman - Ovoca Gold PlcTel: +44 (0)207 397 8151 Tel: +44 (0)207 397 8151Email: barrie.oakes@ovocagold.com Email: roger.turner@ovocagold.com John O'Connor, Secretary - Ovoca Gold Plc Simon Beardsmore, Commercial Manager - Ovoca Gold PlcTel: +353 (0) 1 491 2944 Tel: +44 (0)207 397 8151Email john.oconnor@ovocagold.com Email: simon.beardsmore@ovocagold.com John Frain / Fergal Meegan - Davy Richard Chase- Ambrian (AIM Broker)Tel: +353 (0)1 679 6363 +44 (0)207 776 6461Email: john.frain@davy.ie Email: richard.chase@ambrian.com Nick Bias / Alex Buck - Buck Bias (UK PR) Tom McCormack - Connexions PR (Irish PR)Tel: +44 (0)7887 920 530 / +44 (0)7932 740 452 Tel: +353 (0)1 230 3015Email: nick@buckbias.com / alex@buckbias.com Email: tom.mcc@indigo.ie 7 June, 2006 This information is provided by RNS The company news service from the London Stock Exchange