Holding(s) in Company

NOTIFICATION OF INTEREST IN TOTAL VOTING RIGHTS

A form TR-1 containing the following information has been received by the Company.

TR-1 notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Avocet Mining PLC

2. Reason for the notification

An acquisition or disposal of voting rights

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

Bank of America Corporation

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

Merrill Lynch International

5. Date of the transaction (and date on which the threshold

is crossed or reached if different):

16th December 2011

6. Date on which issuer notified:

20th December 2011

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

6%

8. Notified details:

A: Voting rights attached to shares

B: Financial Instruments

Total (A+B+C)

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 the Proxy holder:

n/a

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

n/a

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

n/a

13. Additional information:

Contact Name: Doug Berwick

Telephone Number: 0207 995 8859