Second Batch of Assay Results at Eritrea

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

13 May 2014

Ortac Resources Ltd ("Ortac" or "the Company")

Second Batch of Assay Results from the Yacob Dewar Project, Eritrea

Copper Drill and Gold Trenching Results

Ortac Resources Ltd, the AIM listed exploration and mine development company, today announces that it has received the second batch of assay results from the drilling programme recently completed at the Yacob Dewar prospect in Eritrea, by Andiamo Exploration Ltd ("Andiamo"), confirming that high grade copper exists to the base of oxidation within the core zone of the known mineralisation.

Drilling Highlights:

· 1.11 per centCopper over 31metres from surface (including 9metresat 2.40 per centCopper from 4metres)

· 0.80 per centCopper over 30metres from surface (including 5.1metreat 1.55 per cent Copper from 4.4metres)

Surface Trenching Highlights:

· 1.84 grams per tonne of gold over 24 metres (including 7.1metresat 4.38 grams per tonne of gold)

· 1.10 grams per tonne of gold over 22 metres (including 8metresat 3.16 grams per tonne of gold)

Vassilios Carellas, Ortac CEO, commented:

"We are encouraged by the second batch of assay results which demonstrate that the copper mineralisation within the core of the deposit, continues to the south and remains strongly mineralised with excellent grades across broad intersections. These excellent results follow the positive first batch results we reported on 28 April 2014.

"We have now begun to define the eastern and western extents of the mineralisation where the core of the deposit remains open to the north and south. The trench results at both Yacob Dewar and Ber Gebey are significant and encouraging.

"We look forward to continuing our partnership with Andiamo and await the next tranche of results as work towards the submission of a technical and economic study on Yacob Dewar continues to press ahead."

Drill Programme

The Yacob Dewar drill programme is primarily designed to testthe interpreted surface copper oxide mineralisation'overlying' the volcanogenic massive sulphide ("VMS") gold deposit in the oxide zone.

The surface copper oxide mineralisation has been interpreted from over 8,700mof diamond and RC drilling primarily aimed at targeting the underlying oxide gold VMS. The recently completed drill program was designed to test the geological interpretation that the surface oxide copper mineralisation that has formed,is secondary in nature and overlies the VMS source.

The second batch of samples sent for analysis, contained core from six drill holes. Drill hole YDD-036 is a vertical hole located on the same collar as Andiamo's previous drill hole YDD-025, a hole angled at 50 degrees to the east which contains 63m @ 2.4% Cu. This hole confirms copper mineralisation with good grades exists to the base of oxidation, at 31m depth, within the core zone of the known mineralisation.

Drill Hole YDD-036

Drill holes YDD-037 and YDD-038 are located 50m to the east of the known core of the deposit and were located in order to test the eastern extent of the mineralisation.YDD-037 is a vertical hole and YDD-038 is angled at 50 degrees to the east from the same collar location. The results indicate that although the grade is lower, mineralised rock is still present outside the core zone.

Drill Hole YDD-037

Drill Hole YDD-038

Drill holes YDD-041 and YDD-042 are located 50m to the west of the known core of the deposit and were located in order to test the western extent of the mineralisation. YDD-042 is located 50m west of YDD-036 and YDD-042 is located 50m south of YDD-041. Both holes are angled at 50 degrees to the east. Again, the results indicate that although the grade is lower, mineralised rock is still present outside the core zone.

Drill Hole YDD-041

Drill Hole YDD-042

Hole YDD-044, angled at 50 degrees to the east, is located in what is now the core of the deposit, 150m directly south of YDD-025. This hole demonstrates that the core of the deposit is strongly mineralised with good copper grades from surface to the base of oxidation.

Drill Hole YDD-044

Surface Trenching

In addition to the copper oxide targeted drill programme, a series of trenches have been dug at Yacob Dewar and Ber Gebey to assist in further defining and understanding the morphology to the main gold bearing VMS structure in the oxide zone.

Results received from 4 trenches at Yacob Dewar, located to intersect the mineralised VMS-style structure, demonstrate that high gold grades are present on surface within the core of the deposit and that the core is surrounded by a significant halo of lower grade gold mineralisation. The near surface gold mineralisation at Yacob Dewar is usually leached and lower in grade compared to the same structure intersected at depth through drilling, therefore, these results all from near surface are considered to be of significance.

Trench YDTR-01

Trench YDTR-02

Trench YDTR-03

Trench YDTR-04

The results received from the first trench at Ber Gebey are very encouraging with high-grade mineralisation noted in the last sample at the eastern end of the trench. The trench will now need to be extended further to the east and re-sampled.

Trench BGTR-01

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 IntertekGenalysis 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.

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

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.