TIDMNGL 
 
RNS Number : 9747F 
Norseman Gold PLC 
22 January 2010 
 

 
 
+--------------------------------------------+ 
|                                            | 
+--------------------------------------------+ 
|                                            | 
+--------------------------------------------+ 
 
 
 
 
+----------------------------------------------------------------------------------------+ 
| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                         | 
+----------------------------------------------------------------------------------------+ 
 
 
+-------------------------------------------+-----------------------------------+ 
| 1. Identity of the issuer or the          |   Norseman Gold plc               | 
| underlying issuer of existing shares to   |                                   | 
| which voting rights are attached:         |                                   | 
+-------------------------------------------+-----------------------------------+ 
 
 
+-------------------+---------------------------------------------------+--------+ 
| 2 Reason for the notification (please tick the appropriate box or boxes):      | 
+--------------------------------------------------------------------------------+ 
| An acquisition or disposal of voting rights                           |   Yes  | 
+-----------------------------------------------------------------------+--------+ 
| An acquisition or disposal of qualifying financial instruments which  |   No   | 
| may result in the acquisition of shares already issued to which       |        | 
| voting rights are attached                                            |        | 
+-----------------------------------------------------------------------+--------+ 
| An acquisition or disposal of instruments with similar economic       |   No   | 
| effect to qualifying financial instruments                            |        | 
+-----------------------------------------------------------------------+--------+ 
| An event changing the breakdown of voting rights                      |   No   | 
+-----------------------------------------------------------------------+--------+ 
| Other (please     |                                                   |   No   | 
| specify):         |                                                   |        | 
+-------------------+---------------------------------------------------+--------+ 
 
 
+-------------------------------------------+-----------------------------------+ 
| 3. Full name of person(s) subject to      |  Sprott Asset Management LP       | 
| the notification obligation:              |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 4. Full name of shareholder(s) (if        |  Refer to Section 9               | 
| different from 3.):                       |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 5. Date of the transaction and date       |  January 19, 2010                 | 
| on which the threshold is crossed         |                                   | 
| or reached:                               |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 6. Date on which issuer notified:         |  January 21, 2010                 | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 7. Threshold(s) that is/are crossed       |  from 11.6% to 12.6%              | 
| or reached:                               |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
 
+----------------+----------------+-------------+----------------+----------+-------------+----------+----------+ 
| 8. Notified details:                                                                                          | 
+---------------------------------------------------------------------------------------------------------------+ 
| A: Voting rights attached to shares                                                                           | 
|                                                                                                               | 
+---------------------------------------------------------------------------------------------------------------+ 
| Class/type of  | Situation previous           | Resulting situation after the triggering transaction          | 
| shares         | to the triggering            |                                                               | 
| if possible    | transaction                  |                                                               | 
| using          |                              |                                                               | 
| the ISIN CODE  |                              |                                                               | 
+                +------------------------------+---------------------------------------------------------------+ 
|                | Number         | Number      | Number         | Number of voting       | % of voting rights  | 
|                | of             | of          | of             | rights                 |                     | 
|                | Shares         | Voting      | shares         |                        |                     | 
|                |                | Rights      |                |                        |                     | 
+                +                +             +----------------+------------------------+---------------------+ 
|                |                |             | Direct         | Direct   | Indirect    | Direct   | Indirect | 
+----------------+----------------+-------------+----------------+----------+-------------+----------+----------+ 
| Ordinary       | 19,879,811     | 19,879,811  |  21,769,811    |          | 21,769,811  |          |  12.6%   | 
| Shares         |                |             |                |          |             |          |          | 
+----------------+                +             +                +          +             +          +          + 
|                |                |             |                |          |             |          |          | 
+----------------+----------------+-------------+----------------+----------+-------------+----------+----------+ 
 
 
+---------------------+------------+--------------------+---------------------+----------------+ 
| B: Qualifying Financial Instruments                                                          | 
+----------------------------------------------------------------------------------------------+ 
| Resulting situation after the triggering transaction                                         | 
|                                                                                              | 
+----------------------------------------------------------------------------------------------+ 
| Type of financial   | Expiration | Exercise/          | Number of voting    | % of voting    | 
| instrument          | date       | Conversion         | rights that may be  | rights         | 
|                     |            | Period             | acquired if the     |                | 
|                     |            |                    | instrument is       |                | 
|                     |            |                    | exercised/          |                | 
|                     |            |                    | converted.          |                | 
|                     |            |                    |                     |                | 
+---------------------+------------+--------------------+---------------------+----------------+ 
|  N/A                |            |                    |                     |                | 
+---------------------+------------+--------------------+---------------------+----------------+ 
 
 
+---------------+----------+------------+------------+----------------+---------------+---------+ 
| C: Financial Instruments with similar economic effect to Qualifying Financial                 | 
| Instruments                                                                                   | 
+-----------------------------------------------------------------------------------------------+ 
| Resulting situation after the triggering transaction                                          | 
|                                                                                               | 
+-----------------------------------------------------------------------------------------------+ 
| Type of       | Exercise | Expiration | Exercise/  | Number of      | % of voting             | 
| financial     |          |            | Conversion | voting         | rights                  | 
| instrument    | price    | date       |            | rights         |                         | 
|               |          |            | period     | instrument     |                         | 
|               |          |            |            | refers to      |                         | 
+---------------+----------+------------+------------+----------------+-------------------------+ 
|               |          |            |            |                |    Nominal    |  Delta  | 
|               |          |            |            |                |               |         | 
+               +          +            +            +                +---------------+---------+ 
|               |          |            |            |                |               |         | 
+---------------+----------+------------+------------+----------------+---------------+---------+ 
 
 
+-------------------------------------------+-----------------------------------+ 
| Total (A+B+C)                                                                 | 
|                                                                               | 
+-------------------------------------------------------------------------------+ 
| Number of voting rights                   | Percentage of voting rights       | 
+-------------------------------------------+-----------------------------------+ 
|  21,769,811                               |  12.6%                            | 
+-------------------------------------------+-----------------------------------+ 
 
 
+----------------------------------------------------------------------------------------+ 
| 9. Chain of controlled undertakings through which the voting rights and/or the         | 
| financial instruments are effectively held, if applicable:                             | 
+----------------------------------------------------------------------------------------+ 
|                                                                                        | 
| Sprott Asset Management LP is the portfolio manager acting on behalf of the Sprott     | 
| Canadian Equity Fund, Sprott Gold and Precious Mineral Fund, Sprott Small Cap Equity   | 
| Fund, Sprott Small Cap Hedge Fund, Sprott Bull/Bear RSP Fund, Sprott Hedge Fund L.P.,  | 
| Sprott Hedge Fund L.P. II, Sprott Master Fund, Ltd., Sprott Master Fund II, Ltd., and  | 
| various Sprott Managed Accounts.                                                       | 
+----------------------------------------------------------------------------------------+ 
 
 
+-------------------------------------------+-----------------------------------+ 
| Proxy Voting:                                                                 | 
|                                                                               | 
+-------------------------------------------------------------------------------+ 
| 10. Name of the proxy holder:             |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 11. Number of voting rights proxy holder  |                                   | 
| will cease to hold:                       |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 12. Date on which proxy holder will cease |                                   | 
| to hold voting rights:                    |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
 
 
+-------------------------------------------+-----------------------------------+ 
| 13. Additional information:               |                                   | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 14. Contact name:                         |  Maggie Tang                      | 
|                                           |                                   | 
+-------------------------------------------+-----------------------------------+ 
| 15. Contact telephone number:             |  1-416-943-4072                   | 
|                                           | mtang@sprott.com                  | 
+-------------------------------------------+-----------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 HOLPGURCGUPUURP 
 

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