TR-1 NOTIFICATION OF MAJOR INTEREST IN SHARES

For filings with the FSA include the annex  
                   
For filings with issuer exclude the annex                      

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
                                                                                                                           
1. Identity of the issuer or the underlying issuer                                    Equity Resources Plc
of existing shares to which voting rights are attached: ii

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

An acquisition or disposal of voting rights  
                                                                         
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):    Change of Investment Manager                                                              X

3. Full name of person(s) subject to the                                  Webb Capital Asset Management Limited
notification obligation: iii

4. Full name of shareholder(s)                                            The Bank Of New York (Nominees) Limited
 (if different from 3.):iv                                                                                                 
                                                                        a/c SF Webb Capital Smaller Companies Gold Fund
                                                                                                                           
5. Date of the transaction and date on                                                                                     
which the threshold is crossed or
reached: v

6. Date on which issuer notified:                                                                                  
29/05/12

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

8. Notified details:

A: Voting rights attached to shares viii, ix
Class/type of          Situation previous            Resulting situation after the triggering transaction
shares                 to the triggering
                       transaction
if possible using
the ISIN CODE
                       Number         Number         Number         Number of voting            % of  voting rights x
                       of             of             of shares      rights
                       Shares         Voting
                                      Rights
                                                     Direct         Direct xi       Indirect    Direct         Indirect
                                                                                    xii
Ordinary  1p           2,400,000      2,400,000      2,400,000      2,400,000                                  
                                                                    
GB00B0GQJ825                                                                                                   

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction
Type of financial             Expiration     Exercise/                  Number of voting              % of voting
instrument                    date xiii      Conversion Period xiv      rights that may be            rights
                                                                        acquired if the
                                                                        instrument is
                                                                        exercised/ converted.
                                                                                                      

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction

Type of financial       Exercise      Expiration    Exercise/       Number of voting rights         % of voting rights 
xix,
instrument              price         date xvii     Conversion      instrument refers to            xx
                                                    period xviii                                    
                                                                                                    Nominal       Delta
                                                                    
                                                                                                                  

Total (A+B+C)

Number of voting rights                                       Percentage of voting rights
2,400,000                                                     4.62%

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

                                                                                                                           

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:                                                                             Peter Webb
15. Contact telephone number:                                                              020 7634 9510