Shearwater Regulatory News (SWG)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

Aurum Mining PLC

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

An acquisition or disposal of voting rights

X

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 the notification obligation:

JSC Compass Asset Management ("JSC")

See para 13 for further information

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

Morstan Nominees Limited

Nominee

Holder

Shares Held

Management Company *

Morstan Nominees Limited

Morstan Nominees Limited

Tau Capital plc

Kazakh Compass Fund, Ltd.

5,812,430

1,694,370

CAM

CAM

* see paragraph 13 for further information

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

22 December 2010

6. Date on which issuer notified:

23 December 2010

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

13%

8. Notified details:

A: Voting rights attached to shares

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

Direct

Direct

Indirect

Direct

Indirect

GB00B00T3528

7,506,800

7,506,800

7,156,800

7,156,800

13.90%

(Note: figures shown are for the resulting situation after each triggering transaction. The resulting situation after the most recent triggering transaction was therefore a 3,116,000 indirect holding, representing 6.49% of total voting rights in the issuer.)

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

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

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

7,156,800

13.90%

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

JSC is the parent undertaking of Compass Asset Management Ltd. ("CAM").

See paragraph 13 for further details.

Compass Asset Management

Ltd.

Nominee

Morstan Nominees Limited

Shares Held

7,156,800

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:

Tau Capital plc and Kazakh Compass Fund, Ltd. hold the shares in respect of which this notification is given through the nominee companies named in paragraph 4 above.

JSC Compass Asset Management ("JSC") is the parent undertaking of Compass Asset Management Ltd. ("CAM").

CAM is the investment manager of Kazakh Compass Fund and investment advisor of Tau Capital plc.

14. Contact name:

Daniyar Uspanov

15. Contact telephone number:

+7 727 356 03 56