Patagonia Gold today announced that on January 31, 2012 the Company's Remuneration Committee agreed to grant options for over 4,000,000 ordinary shares of 1 pence each to certain Directors under the Company's share option arrangements. The options are exercisable (in whole or in part) at any time up to the tenth anniversary of the date of grant and are exercisable at a price of 42.5 pence per Ordinary Share.