Response to Media Speculation

For immediate release: Wednesday, 8th April 2015

Zoltav Resources Inc.

("Zoltav" or the "Company")

Response to Media Speculation

Zoltav (AIM:ZOL), the Russia and CIS-focused oil and gas exploration and production company, notes speculation in Russian media sources of partnership discussions in respect of the Koltogor Licences in Western Siberia. The Company is not currently engaged in any such partnership discussions and, as such, there is no basis for these reports.

Contacts:

Zoltav Resources Inc.

Tel. +44 (0)20 7016 9570

Alastair Ferguson, Executive Chairman

(via Vigo Communications)

Shore Capital (Nomad and Broker)

Tel. +44 (0)20 7408 4090

Pascal Keane or Toby Gibbs (Corporate Finance)

Jerry Keen (Corporate Broking)

Vigo Communications (UK)

Tel. +44 (0)20 7016 9570

Patrick d'Ancona or Ben Simons

[email protected]