Notice of Initial Substantial Holder for Jacka Resources

23 January 2014 TANGIERS PETROLEUM LIMITED Notice of Initial Substantial Holder for Jacka Resources Tangiers Petroleum Limited ("Tangiers" or the "Company") advises that inrelation to the announced Recommended Takeover Offer by Tangiers for JackaResources Limited ("Jacka"), in accordance with section 671B(1)(c) of theCorporations Act 2001, a Notice of Initial Substantial Holder (Form 603) hasbeen lodged with ASIC and the ASX and is available from the Company's website.This notice sets out that as of 20 January 2014, Tangiers (on behalf of itselfand each of its controlled entities) holds 1,705,833 shares in Jacka,representing 0.5% of Jacka's issued capital. ROBERT DALTONJoint Company Secretary Tangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: + 61 8 9485 0990www.tangierspetroleum.com Contacts RFC Ambrian Limited (Nominated Adviser)Mr Stuart Laing+61 8 9480 2506 Peel Hunt LLP (Joint AIM Broker)Mr Richard CrichtonMr Andy Crossley+ 44 20 7418 8900 Mr Ed Portman (Media and Investor Relations - United Kingdom)Tavistock Communications+44 20 7920 3150