Holding(s) in Company

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

GMA Resources plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

√

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

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

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

Sahara Gold Limited (on behalf of itself and ASEC Company for Mining S.A.E. and ASCOM Precious Metals Mining S.A.E. )

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

Sahara Gold Limited (formerly known as Valencia Services Holdings Limited)

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

Date of Subscription Agreement 30 June 2010

Date of Transaction/subscription - 20 April 2011

Date threshold crossed - 20 April 2011

6. Date on which issuer notified:

20 April 2011

7. Threshold(s) that is/are crossed orreached: vi, vii

26 per cent.

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares of 1p

141,036,624

141,036,624

162,636,624

162,636,624

-

26.75

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

162,636,624

26.75

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

Sahara Gold Limited is directly interested in 162,636,624 ordinary shares of 1p each in GMA Resources plc.

ASEC Company for Mining S.A.E. and ASCOM Precious Metals Mining S.A.E. are each indirectly interested in the shares in which Sahara Gold Limited is interested as ASEC Company for Mining S.A.E. is the owner of the whole of the issued share capital of ASCOM Precious Metals Mining S.A.E. which owns the whole of the issued share capital of Sahara Gold Limited.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

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

13. Additional information:

14. Contact name:

Omar El-Alfy

15. Contact telephone number:

+202 (2791) 4441