Patagonia Gold Announces Resignation of CFO

TORONTO, March 12, 2013 /CNW/ - Patagonia Gold Plc (TSX: PAT, AIM: PGD) today announced the resignation of Philip Yee as Chief Financial Officer for the Company. Mr. Yee will leave the Company on May 27, 2013 to assume a new position as Vice President and Chief Financial Officer with a mining company in Canada. Gonzalo Tanoira, the Financial Director of Patagonia Gold, will assume the role of Chief Financial Officer.

"Phil Yee successfully guided us on to the Toronto Stock Exchange in 2011, and greatly assisted the Company during the transition from a developer to a producer," said Bill Humphries, Patagonia Gold's CEO. "The Board would like to thank Mr. Yee for his contribution to the Company, and wishes him well for the future."

About Patagonia Gold

Patagonia Gold Plc is a mining company that seeks to grow shareholder value through exploration, development and production of gold and silver projects in the southern Patagonia region of Argentina. The Company is primarily focused on three projects: the flagship Cap-Oeste project, the nearby COSE project and the Lomada heap leach project, which is generating free cash flow. Patagonia Gold, indirectly through its subsidiaries or under option agreements, has mineral rights to over 220 properties in several provinces of Argentina and Chile, and is one of the largest landholders in the province of Santa Cruz.

Patagonia Gold is listed on the AIM market of the London Stock Exchange under the symbol PGD and on the Toronto Stock Exchange (TSX) under the symbol PAT.

SOURCE Patagonia Gold plc

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