Holding(s) in Company

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Norseman Gold plc

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

No

An event changing the breakdown of voting rights

No

Other (please specify):______________

No

3. Full name of person(s) subject to notification obligation:

Sprott Asset Management Inc.

4. Full name of shareholder(s) (if different from 3):

Refer to section 9

5. Date of transaction (and date on which the threshold is crossed or reached if different):

May 6, 2009

6. Date on which issuer notified:

May 7, 2009

7. Threshold(s) that is/are crossed or reached:

Change from 6% to 8%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

Ordinary shares

8,700,000

8,700,000

11,900,000

11,900,000

7.8%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

11,900,000

7.8%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

Sprott Asset Management is the portfolio manager acting on behalf of Sprott Canadian Equity Fund, Sprott Bull/Bear RSP Fund, Sprott Hedge Fund L.P, Sprott Hedge Fund L.P l. Sprott Master Fund, Ltd, Sprott Master Fund ll, Ltd.,and the Sprott Managed Accounts.

Proxy Voting:

10. Name of proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14 Contact name:

Maggie Tang

15. Contact telephone number:

1-416-943-4072