Arc Minerals Regulatory News (ARCM)

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

27 June 2011

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

Appointment of Group Mining Engineer

Ortac Resources Ltd, the AIM listed exploration and development company focussed on precious metal projects in Europe, is pleased to announce the appointment of Mr. Owen Mihalop as Group Mining Engineer with immediate effect. Mr. Mihalop has extensive experience of overseeing Feasibility Studies on significant projects and has 15 years broad based experience in the mining industry. This non-board appointment will strengthen Ortac's technical team as the Company drives its flagship Kremnica Gold Project in Slovakia through the Scoping and Feasibility Study stages towards production over the coming months.

Mr. Mihalop started his career as a geologist and engineer in the employ of Navan Resources Plc where he worked with gold, base metal and industrial mineral assets in Ireland, Spain and Eastern Europe. Following this, Mr. Mihalop worked for a variety of mining companies throughout Europe and the UK, building valuable awareness of the operating environment in Europe. Mr. Mihalop worked for Homestake Mining Corporation as part of the engineering team at Williams Mine, one of Canada's foremost underground gold mines, where he saw the company through a profitable mining operation, applying modern mining techniques. Until recently he was Technical Director of Mining at leading engineering consultancy Wardell Armstrong International, where he led a team of consultants managing Feasibility Studies and technical due diligence reports for a number of significant mining projects internationally. Additionally, through this role, Mr. Mihalop developed an extensive network of clients and industry contacts. He is a graduate of Camborne School of Mines, a Chartered Engineer and a Member of the Institute of Materials, Minerals and Mining.

Ortac CEO Vassilios Carellas said, "Our flagship Kremnica Gold Project is fast approaching feasibility stage with a Scoping Study due for completion in H2 2011. In line with this, we are delighted to welcome Owen to join our team as Group Mining Engineer and look forward to benefitting from his extensive experience of working to advance gold projects and in conducting Feasibility Studies, during this key time for the Company. Owen has worked on a number of European projects during his 15 years in the mining industry, providing him with considerable knowledge of the European operating environment, and we look forward to working closely with him as we develop the Kremnica project towards production."

**ENDS**

Notes:

Ortac Resources Limited is an AIM listed exploration and development company focussed on the development of precious metal projects in Europe. Its focus is on the Carpatho Balkan Metallogenic Belt, initially the Central Slovakian Volcanic Field.

The Company has a current JORC compliant resource of 1.1Moz of gold equivalent from its flagship Kremnica Gold Project in Slovakia, and Snowden Mining Industry Consultants Pty are in the process of preparing a preliminary scoping study on the project, which is expected in H2 2011. The Company's objective is to complete a definitive feasibility study and environmental impact assessment with a view of bringing the Kremnica Gold Project into production. 

The Company's strategy is to utilise its highly experienced board and management team and its solid foothold in Central Europe to consolidate additional precious metal development opportunities to build shareholder value.