Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

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

Avocet Mining PLC

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

An acquisition or disposal of voting rights

Yes

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

No

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

No

An event changing the breakdown of voting rights

Yes

Other :

No

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

Elliott Capital Advisors, L.P (for itself and related general partners and investment managers)

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

Elliott International, L.P, Elliott Associates LP

Liverpool Limited Partnership, Manchester Securities Corp

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

13th August 2014

6. Date on which issuer notified:

15th August 2014

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

28%

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

GB0000663038

25,695,037

25,695,037

28,245,037

28,245,037

13.5108%

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

CFD over Ordinary Shares

GB0000663038

29,648,233

14.182%

Warrants over Ordinary Shares

GB0000663038

40p

03/06/2016

Until 03/06/2016

3,000,000

(Delta Adj 289,020)

0.1382%

Warrants over Ordinary Shares

GB0000663038

40p

02/09/2016

Until 02/09/2016

1,000,000

(Delta Adj 123,336)

0.06%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

58,305,626

27.8901%

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

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:

Placement of new shares, further voting rights were acquired but ultimately our holding was diluted.

14. Contact name:

Michael Cross

15. Contact telephone number:

0203 009 1305