Director Declaration

23 January 2013

Zoltav Resources Inc.

(the 'Company' or 'ZOL')

Director's declaration

Pursuant to Rule 17 of the AIM Rules for Companies (the "AIM Rules"), the following disclosures fall to be disclosed under Schedule Two, paragraph (g) of the AIM Rules:

David Francis was a director of Sequence Films (2012) Limited (formerly Handmade Films International Limited) at the time it was placed into creditors voluntary liquidation on 6 August 2012. Mr Francis disputes this appointment, which he believes was completed without his consent.

Separately, prior to his appointment to the board of Zoltav, Mr. Francis resigned on 27 April 2011 as a director of Horizon Investments (Jersey) Limited ("HIJL"). The underlying business of HIJL was sold as a going concern on 22 December 2011. On 22 February 2012, HIJL applied for a just and equitable winding up order pursuant to Jersey law. This process was chosen by HIJL to enable it to continue to trade whilst its clients and their assets were transferred in an orderly way to the new owner of the business.

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