Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex 

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:

Churchill Mining Plc

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

x

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

An event changing the breakdown of voting rights

Other (please specify):______________

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

Pala Investments Holdings Limited

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

N/A

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

18 September 2008

6. Date on which issuer notified:

19 September 2008

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

Passed the 15% threshold (15.58%)

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 9,942,818 9,942,818 10,467,818 10,467,818 0 15.58% 0

Shares

ISIN: N/A

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

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

10,467,818

15.58

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

N/A

Proxy Voting:

10. Name of proxy holder:

N/A

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

N/A

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

N/A

13. Additional information:

14 Contact name:

Colin Murray

Pala Investments AG

15. Contact telephone name:

+41 41 560 9070

Annex: Notification of major interests in shares

A: Identity of the persons or legal entity subject to the notification obligation

Full name 

(including legal form of legal entities)

Pala Investments Holdings Limited, a company incorporated under the laws of Jersey.

Contact address 

(registered office for legal entities)

12 Castle Street

St Helier

Jersey JE2 3RT 

Phone number & email

Contact: Colin Murray

tel. +41 41 560 9070 / +44 (0) 1534 639815

[email protected]

Other useful information 

(at least legal representative for legal persons)

Latham & Watkins (London) LLP

Contact: Matthew Hussey

+44 (0)207 710 1164

[email protected]

B: Identity of the notifier, if applicable

Full name

N/A

Contact address

N/A

Phone number & email

N/A

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

N/A

C: Additional information