NOTIFICATION OF MAJOR INTEREST IN SHARES

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

Aureus Mining Inc

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 thenotification obligation: iii

Blakeney LLP

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

Blakeney LLP as investment advisor manager of the funds listed in Section 9.

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

11th May 2012

6. Date on which issuer notified:

14th May 2012

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

5%

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

CA0515471070

4,827,000

0

6,053,159

0

6,053,159

0

5.13%

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

Total (A+B+C)

Number of voting rights

Percentage of voting rights

6,053,159

5.13%

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:

Blakeney LLP

11. Number of voting rights proxy holder will ceaseto hold:

Not applicable

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

Not applicable

13. Additional information:

14. Contact name:

Michael Mumford

15. Contact telephone number:

020 7352 4117

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

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

Full name

(including legal form of legal entities)

Blakeney LLP

Contact address

(registered office for legal entities)

29 Chelsea Wharf, Lots Road, London SW10 0QJ

Phone number & email

020 7352 4117

Other useful information

(at least legal representative for legal persons)

Emma Ingram, Managing Member

B: Identity of the notifier, if applicable

Full name

Not applicable

Contact address

Not applicable

Phone number & email

Not applicable

Other useful information

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

Not applicable

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.