4th Tranche Drill Results

Ortac Resources Ltd / Epic: OTC / Market: AIM / Sector: Mining & Exploration 2014

9th July 2014

Ortac Resources Ltd

("Ortac" or "the Company")

Latest Batch of Assay Results from the Yacob Dewar Project Eritrea

Confirmed High-Grades of Oxide Copper and Gold Mineralisation

New Gold and Silver Deposit Discovered at Ber Gebey, Potential Yacob Dewar Extension

Ortac Resources Ltd, the AIM listed exploration and mine development company, today announces that it has received a further batch of assay results from the drilling and trenching programme recently completed at the Andiamo Exploration Ltd ("Andiamo") Haykota exploration concession area in Eritrea, which confirms that near surface high-grade oxide copper and gold mineralisation is present at the Yacob Dewar deposit. Results from drilling and trenching at the Ber Gebey prospect, located 3.5km north east and directly along strike from Yacob Dewar, also indicate the discovery of a new gold and silver bearing mineral deposit.

Yacob Dewar Oxide Copper Drilling Highlights:

· 2.80% Cu over 18.0m from 25.5m down the hole, in hole YDD-057, including:

o 6.12% Cu over 5.7m from 30.5m down the hole; and

o 6.64% Cu over 1.8m from 39.7m down the hole.

· 3.56% Cu over 2.85m from 41.65m down the hole, in hole YDD-051, including:

o 5.22% Cu over 1.85m from 41.65m down the hole;

· 1.45% Cu over 4.75m from 22.60m down the hole, in hole YDD-052; and

· 1.04% Cu over 7.00m from 14.75m down the hole, in hole YDD-053.

Yacob Dewar Gold and Silver Drilling Highlights:

· 13.90 g/t Au and 283.3 g/t Ag for 19.57 g/t Au Eq. over 1.90m from 54.65m down the hole, in hole YDD-055;

· 6.14 g/t Au and 33.8 g/t Ag for 6.82 g/t Au Eq. over 1.15m from 15.15m down the hole, in hole YDD-052;

· 5.07 g/t Au and 58.01 g/t Ag for 6.23 g/t Au Eq. over 7.50m from 33.50m down the hole, in hole YDD-053, including:

o 15.34 g/t Au and 38.00 g/t Ag for 16.10 g/t Au Eq. over 1.00m from 39.00m down the hole;

· 2.72 g/t Au and 12.72 g/t Ag for 2.98 g/t Au Eq. over 5.15m from 17.85m down the hole, in hole YDD-057, including:

o 5.80 g/t Au and 18.28 g/t Ag for 6.16 g/t Au Eq. over 1.80m from 18.75m down the hole; and

· 7.61 g/t Au and 5.10 g/t Ag for 7.71 g/t Au Eq. over 2.15m from 21.60m down the hole, in hole YDD-058.

Ber Gebey Drilling and Trenching Highlights:

· 2.35 g/t Au and 81.04 g/t Ag for 3.97 g/t Au Eq. over 14.50m from 4.30m down the hole, in hole BGD-012, including:

o 2.72 g/t Au and 124.51 g/t Ag for 5.21 g/t Au Eq. over 5.10m from 5.10m down the hole;

o 4.43 g/t Au and 49.59 g/t Ag for 5.21 g/t Au Eq. over 3.10m from 12.50m down the hole.

· 3.70 g/t Au and 24.56 g/t Ag for 4.19 g/t Au Eq. over 14.0m from 0.00m along the trench, in trench BGTR-02 (the entire length of the trench is mineralised), including:

o 10.47 g/t Au and 22.10 g/t Ag for 10.91 g/t Au Eq. from 6.00m along the trench;

· 3.20 g/t Au and 57.70 g/t Ag for 4.35 g/t Au Eq. over 4.00m from 0.00m along the trench, in trench BGTR-03; and

· 1.28 g/t Au and 17.26 g/t Ag for 1.72 g/t Au Eq. over 20.00m from 8.00m along the trench, in trench BGTR-04.

Vassilios Carellas, Ortac CEO, commented:

"The results from this latest batch of assays are again highly encouraging and further demonstrate that high-grade oxide copper and gold mineralisation is present in the Yacob Dewar deposit. The latest drill results will assist Ortac in defining the extent of the copper and gold mineralisation and thus enable Andiamo to produce a JORC compliant resource estimate for the deposit in due course."

"The trenching and drilling results from Ber Gebey, located just 3.5km along strike from Yacob Dewar, are especially pleasing. Andiamo had previously drilled the gossan which outcrops at Ber Gebey without success; however, following a systematic programme of mapping, outcrop sampling and trenching the main silica-barite trend has now been located, which extends south west of the gossan trending towards Yacob Dewar with the results demonstrating the potential for a new high-grade mineral deposit at Ber Gebey."

"Today's results have led Andiamo to now undertake a 20,000 metre systematic trenching and re-mapping programme across the entire length of the Yacob Dewar deposit to better define the surface expression of the gold-bearing VMS structure and the high-grade oxide copper zone. Ortac is on course to complete the technical work required to submit an application for a mining license and fulfil our commitments to Andiamo under our subscription agreement."

Full Results

The latest batch of samples sent for analysis contained core from eighteen diamond drill holes and four trenches. The full results are presented in the tables below.

Yacob Dewar drill holes targeting gold and copper mineralisation from the VMS deposit:

Yacob Dewar drill holes targeting copper mineralisation from the oxide copper zone:

Ber Gebey drill holes targeting gold mineralisation:

Ber Gebey trenches targeting gold mineralisation:

Note: Gold equivalent grades are calculated on the basis that 50g/t silver equals 1g/t gold.

The information in this release is based on information provided by Andiamo Exploration Ltd and compiled on behalf of Ortac by Mr Owen Mihalop. All samples were sent to Intertek Genalysis Laboratories in Perth, Australia for sample preparation and assaying. All sample collection, storage, transport, security, sample preparation and assay methodologies employed by Andiamo have been previously audited by SRK Consulting (UK) Ltd in respect to National Instrument 43-101, as prescribed by the Canadian Exchange Commission, and reported to be compliant as per its guidelines. Mr Mihalop has reviewed the third party data on behalf of Ortac Resources and takes responsibility for the data and geological interpretation. Mr Owen Mihalop (MCSM, BSc (Hons), MSc, MIMMM, CEng) is Technical Director for Ortac Resources Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code (2012) and as a Qualified Person under NI 43-101. Mr Mihalop consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. 

ENDS

Glossary

Cu - the chemical symbol for copper.

Au- the chemical symbol for gold.

Ag - the chemical symbol for silver

Au Eq. - Gold equivalent grade, where silver grades are included after having been converted to a gold equivalent based on a ratio of the average spot market prices for both metals.

m - metre, a unit of length as per the International System of Units.

g/t- grammes per tonne, the quantity of the an element expressed as the number of grammes contained in one tonne of the host rock.

Gossan - is an intensely oxidized, weathered or decomposed rock, usually the upper exposed part of an ore deposit or mineral vein

Mineralisation - the process or processes by which a mineral is introduced into a rock, resulting in a valuable or potentially valuable deposit. It is a general term, incorporating various types; e.g., fissure filling, impregnation, and replacement.

Volcanogenic Massive Sulphide - a type of metal sulphide mineral deposit formed by volcanic activity in submarine environments.

For additional information please visit - www.ortacresources.com