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Press release from CNW Group

Patagonia Gold Announces Exercise of Options

Wednesday, December 05, 2012

Patagonia Gold Announces Exercise of Options10:13 EST Wednesday, December 05, 2012TORONTO, Dec. 5, 2012 /CNW/ - Patagonia Gold PLC (TSX: PAT, AIM: PGD)today announced that, following the exercise of share options, application has been made for the admission of 25,000 ordinary shares of one pence each in the Company ("New Ordinary Shares") to trading on AIM.The New Ordinary Shares will rank pari passu with existing ordinary shares and will represent 0.003 per cent of the Company's issued ordinary share capital. It is expected that admission will occur at 8 am on December 10, 2012.Following admission of the New Ordinary Shares, the total number of voting rights in the Company's ordinary shares will be 812,630,878. Patagonia Gold does not hold any Ordinary Shares in treasury.The aforementioned figure of 812,630,878 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 to their interest in, Patagonia Gold under the Financial Service Authority's Disclosure and Transparency Rules.About Patagonia Gold Patagonia Gold Plc is an advanced mining exploration company that seeks to grow shareholder value through the acquisition, exploration and development of gold and silver projects in the southern Patagonia region of Argentina. The Company is primarily focused on the development of two properties: the flagship Cap-Oeste project and the nearby COSE project, which is expected to begin generating free cash flow by 2013. Patagonia Gold, indirectly through its subsidiaries or under option agreements, has mineral rights to over 220 properties in several provinces of Argentina and Chile, being one of the largest landholders in the province of Santa Cruz. The Company is headquartered in London, with subsidiary offices in Buenos Aires and Toronto.Patagonia Gold is listed on the Toronto Stock Exchange (TSX) under the symbol PAT and has been listed on the AIM market of the London Stock Exchange under the symbol PGD since 2003.SOURCE: Patagonia Gold plcFor further information: Bill Humphries / Nigel Everest Patagonia Gold Plc Tel: +44 (0)20 7409 7444 Philip Yee, CFO Patagonia Gold Plc Tel: +1 (416) 572 2007 Colin Languedoc Barnes Communications Inc. Tel: +1 (416) 367-5000 Simon Raggett / Angela Hallett Strand Hanson Ltd Tel: +44 (0)20 7409 3494 Rory Scott Mirabaud Securities LLP Tel: +44 (0)20 7878 3360 David Bick / Mark Longson Square 1 Consulting +44 (0)20 7929 5599