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PATAGONIA GOLD PLC
                                Trading Symbol PGD.L
• PRESS RELEASE • PRESS RELEASE • PRESS RELEASE • PRESS RELEASE • PRESS RE



                                                                               9th May 2008


 PATAGONIA GOLD FORMS A STRATEGIC PARTNERSHIP WITH
  FOMICRUZ S.E. FOR THE DEVELOPMENT OF PROPERTIES IN
                 SANTA CRUZ, ARGENTINA


Patagonia Gold SA (“PGSA”), a wholly owned subsidiary of Patagonia Gold Plc, is pleased to
report that it has entered into a Letter of Intent (“LOI”) with Fomento Minero de Santa Cruz
Sociedad del Estado (Fomicruz SE), a well established and respected mining company
wholly owned by the pro-mining government of Santa Cruz Province, Argentina.


The LOI sets out the key terms and conditions of a strategic partnership between PGSA and
government owned Fomicruz SE for the future development of PGSA's mining properties in Santa
Cruz province, including the gold
Pgd Fomicruz Final 01 08 05 08[1]

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Pgd Fomicruz Final 01 08 05 08[1]

  • 1. PATAGONIA GOLD PLC Trading Symbol PGD.L • PRESS RELEASE • PRESS RELEASE • PRESS RELEASE • PRESS RELEASE • PRESS RE 9th May 2008 PATAGONIA GOLD FORMS A STRATEGIC PARTNERSHIP WITH FOMICRUZ S.E. FOR THE DEVELOPMENT OF PROPERTIES IN SANTA CRUZ, ARGENTINA Patagonia Gold SA (“PGSA”), a wholly owned subsidiary of Patagonia Gold Plc, is pleased to report that it has entered into a Letter of Intent (“LOI”) with Fomento Minero de Santa Cruz Sociedad del Estado (Fomicruz SE), a well established and respected mining company wholly owned by the pro-mining government of Santa Cruz Province, Argentina. The LOI sets out the key terms and conditions of a strategic partnership between PGSA and government owned Fomicruz SE for the future development of PGSA's mining properties in Santa Cruz province, including the gold