Avocet Mining PLC - Directors Shareholding

RNS No 0944v
AVOCET MINING PLC

                            DEALINGS BY DIRECTORS

1)   NAME OF COMPANY

     AVOCET MINING PLC

2)   NAME OF DIRECTOR

     JOCELYN SEVERYN DE WARRENNE WALLER

3)   Please state whether notification indicates that it is in
     respect of holding of the Director named in 2 above
     or holding of that person's spouse or children under
     the age of 18 or in respect of a non-beneficial interest

     NOTIFICATION IN RESPECT OF DIRECTOR

4)   Name of the registered holder(s) and, if more than
     one holder, the number of shares held by each of 
     them. (If notified)

     MYLES NOMINEE PTE LIMITED

5)   Please state whether notification relates to a
     person(s) connected with the Director named in 2
     above and identify the connected person(s)

N/A

6)   Please state the nature of the transaction. For
     PEP transactions please indicate whether
     general/single co PEP and if discretionary/non
     discretionary

     SEE BELOW

7)   Number of shares/amount of
     stock acquired

     SEE BELOW

8)   SEE BELOW
    of issued Class

9)   Number of shares/amount
     of stock disposed

N/A

10)  ( N/A %)
    of issued Class

11)  Class of security

     ORDINARY

12)  Price per share

     SEE BELOW

13)  Date of transaction

     4-7-97

14)  Date company informed

     8-7-97

15)  Total holding following this notification

     SEE BELOW

16)  Total percentage holding of issued class following 
     this notification      

     SEE BELOW

      IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE COMPLETE 
                              THE FOLLOWING BOXES

17)  Date of grant

N/A

18)  Period during which or date on which exercisable

N/A

19)  Total amount paid (if any) for grant of the option

N/A

20)  Description of shares or debentures involved:
     class, number.

N/A

21)  Exercise price (if fixed at time of grant) or indication
     that price is to be fixed at time of exercise

N/A

22)  Total number of shares or debentures over which
     options held following this notification

N/A

23)  Any additional information

     SEE BELOW

24)  Name of contact and telephone number for queries

     ALAN FRASER
     0171-834-1811



25)  Name and signature of authorised company official
     responsible for making this notification

     Date of Notification..8 JULY 1997...................



(1)  SHARES ACQUIRED ON 4 JULY 1997

195,000 shares representing 0.6% of the issued share capital of the company were
acquired by the above-named director for #1.71 each. These shares were bought
from proceeds of a facility granted by PS Holdings Ltd. to the above-named
director. They are subject to legal charge in favour of PS Holdings Ltd.

(2)   INTEREST SHARES HELD UNDER A PUT OPTION AGREEMENT DATED 30 JUNE 1997 OVER
      SHARES PURCHASED ON 4 JULY 1997 WRITTEN BY THE DIRECTOR

105,000 shares representing 0.3% of the issued share capital of the company are
held by PS Holdings Ltd subject to a put option which enables PS Holdings Ltd to
put the shares on to the above-named director during a period lasting 30 days
commencing on the expiry of 2 years from 30 June 1999.

The put option price per share will be calculated accordingly to the formula:

          P+ (P x 1 x no of days/365)

          Where P = the acquisition cost of the share transferred under the
          option.
          I = interest rate at 12% per annum
          No of Days = No of days elapsed from 4/7/97 to the date of payment of
          the option price by the director.

          Director's total holding

          The above-named director's total holding following this
          notification is

               Personal                            1,737,972
               On exercise of Put Option (para 2)    105,000
               Pension Fund                          385,493

               Join Limited*                          49,000
                                                   ---------
                                                   2,277,465 - 7.0% of issued
                                                   ---------
* Effective net interest in 50% held company.

The above-named director's wife, Nilawan Waller, holds 20,000 shares following
the sale of 195,000 shares on 4 July 1997.


END
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