TIDMNGL

RNS Number : 5102Y

Norseman Gold PLC

24 December 2010

Norseman Gold plc / Epic: NGL / Index: AIM & ASX / Sector: Mining & Exploration

Norseman Gold Plc ('Norseman Gold' or 'the Company')

Issue of Shares

Norseman Gold Plc, the AIM-listed and ASX-listed Australian gold production company, announces that it has today issued 50,000 new ordinary shares of 1.25 pence each in the company in respect of the exercise of options. Application has been made for admission of these shares to trading on AIM with effect from 31 December 2010.

Following the exercise of options the total number of Ordinary shares in issue is 197,720,000.

**ENDS**

For further information visit www.norsemangoldplc.com or contact:

 
 Barry Cahill         Norseman Gold Plc           Tel: +61 (0) 8 9473 2200 
                                                  E-mail: 
                                                  investors@ngold.com.au 
 Guy Wilkes           Ocean Equities Ltd          Tel: +44 (0) 20 7786 
                                                   4370 
 Nandita Sahgal       Seymour Pierce Ltd          Tel: +44 (0) 20 7107 
  Jeremy Stephenson    Seymour Pierce ltd          8000 
                                                   Tel: +44 (0) 20 7107 
                                                   8000 
 Hugo de Salis        St Brides Media & Finance   Tel: +44 (0) 20 7236 
  /                    Ltd                         1177 
  Isabel Crossley

Note to editors:

Norseman Gold plc is an AIM listed and ASX listed Australian gold production company, which acquired the Norseman Gold Project in May 2007 Australia's longest continually running gold operation. The Norseman Gold Project is located in the Eastern Goldfields of Western Australia in the highly prospective Norseman-Wiluna greenstone belt, 725km east of Perth and 186km from Kalgoorlie.

Gold was first found on the Norseman field in 1894 and over the last 65 years it has produced over 5.5 million oz of gold. The mine is currently producing from two high-grade narrow-vein underground mines - the Bullen and the Harlequin. Currently, it has a total resource inventory of 3.8 million oz of gold at an average grade of 5.3 g/t.

The tenements cover a 2,180 sq km area centred on the Norseman Township. The landholding comprises 221 tenements consisting of 16 Exploration Licences, 107 Mining Licences, 64 Prospecting Licences, 15 Miscellaneous Licences, 5 Exploration Licence Applications, 13 Prospecting Licence Applications and 1 Mining Lease Application.

The Company's strategy is focused on extending the mine life through the conversion of resources into reserves and identifying additional resources and obtaining additional ore for the operating mill through the development of a third and subsequent mines. The Company has fifteen advanced resource projects under review of which three have pre-development work being undertaken on them. It is anticipated that at least one if not all the pre-development projects will develop into mining propositions.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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