Gemfields Resources Plc

Holdings in Company

3 August 2007

Gemfields Resources Plc ("Gemfields" or "the Company", Ticker "GEM") received
notification dated 1 August 2007 that CA Fiduciary Services Limited as trustees
of the Timis Trust no longer has a notifiable interest in the Company following
the disposal of 5,133,334 of the Company's ordinary 1p shares.

For more information:

Peter Kitchen, CEO peter.kitchen@gemfields.co.uk

Richard James, CFO richard.james@gemfields.co.uk

Gemfields Resources Plc Tel: +44 (0)20 7016 9416

Robin Birchall/Ryan Gaffney +44 (0)20 7050 6500

Canaccord Adams Limited

Laurence Read/ Leesa Peters Tel: +44 (0)20 7429 6605

Conduit PR

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END
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