Ortac Shareholders Approve Acquisition

Not for release, publication or distribution, in whole or in part, in, directly or indirectly, or into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction

Templar Minerals Ltd/ Epic: TMP / Market: AIM / Sector: Mining & Exploration

25 August 2010

Templar Minerals Limited ('Templar Minerals' or 'the Company')

Ortac Shareholders Approve Acquisition

Templar Minerals Ltd, the AIM quoted international mining and exploration company, is pleased to announce that at the General Meeting of Ortac Resources PLC ('Ortac'), held today, shareholders approved the proposed acquisition of the entire issued share capital of Ortac by Templar Minerals ('the Acquisition'). Ortac Resources PLC owns 100% of the highly prospective Kremnica Gold Project in Slovakia.

The Acquisition is expected to be completed on 15 September 2010.

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Templar Minerals and no one else in connection with the Scheme and other matters described in this announcement and will not be responsible to anyone other than Templar Minerals for providing the protections afforded to customers of Beaumont Cornish or for providing advice in relation to the Scheme or any other matter described in this announcement.

This announcement does not constitute, or form part of, any offer for, or any solicitation of any offer for, securities. Any acceptance or other response to the Scheme should be made only on the basis of information referred to in the Scheme Document which Ortac dispatched to its Shareholders and, for information only, to participants in the Ortac Option Schemes.

The availability of the Scheme to persons who are not resident in the United Kingdom may be affected by the laws of their relevant jurisdiction. Such persons should inform themselves of, and observe, any applicable legal or regulatory requirements of their jurisdiction. Further details in relation to Overseas Shareholders will be contained in the Scheme Document.

DEALING DISCLOSURE REQUIREMENTS

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified.

An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th Business Day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th Business Day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the Business Day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3. Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.

In accordance with Rule 19.11 of the City Code, a copy of this announcement will be published on the following websites: www.templarminerals.com and http://www.laytons.com/client-pages/ortac.asp

To become effective, the Scheme requires, amongst other things:

(a) approval at the Court Meeting by the necessary majorities of the Scheme Shareholders present and voting, either in person or by proxy;

(b) the passing of the special resolution at the Ortac General Meeting;

(c) the sanction of the Scheme and confirmation of the capital reduction of Ortac by the Court at the Court Hearing;

(d) Admission of the Enlarged Share Capital; and

(e) the satisfaction or waiver of the other Implementation Conditions

The timetable for Completion remains as follows:

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

Unless expressly stated otherwise, all future times and dates referred to in the Document are subject to change at the discretion of the Company and Beaumont Cornish Limited and shall be BST.

DEFINITIONS

The following definitions apply throughout this announcement, unless the context requires otherwise:

**ENDS**