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:

Cluff 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:

Ingalls & Snyder LLC ("I&S") 

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

I&S, on behalf of its clients, has dispositive authority over (i.e. the power and authorisation to sell at I&S's discretion) 7,394,000 shares. 

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

December 22, 2009

6. Date on which issuer notified:

December 23, 2009 

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

Interest in excess of 6% of issued share capital.

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 ISIN GB00B04M1L91 

-

7,394,000

See note 4 above. I&S has dispositive authority over 7,394,000 shares. 

-

6.03% (Note: For these purposes we have assumed that dispositive authority is equivalent to voting rights).

-

B: Financial Instruments N/A 

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

Total (A+B)

Number of voting rights

Percentage of voting rights

7,394,000 (Note: For these purposes we have assumed that dispositive authority is equivalent to voting rights.)

6.03% (Note: For these purposes we have assumed that dispositive authority is equivalent to voting rights).

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:

Edward H. Oberst

Managing Director

15. Contact telephone name:

(001) (212) 269 7812