Arc Minerals Regulatory News (ARCM)

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

26 July 2012

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

Appointment of Non-Executive Director

Ortac Resources Ltd, the AIM listed exploration and development company focussed on natural resource projects in Europe, is pleased to announce the appointment of Mr. Paul Heber as a Non-executive Director with immediate effect. Mr. Heber, who has extensive experience in global stock markets and growth resource businesses, joins during a transformational period for Ortac with the completion of key milestones scheduled for 2012 such as the finalisation of the Pre-Feasibility Study at the Company's mature Šturec gold and silver deposit in central Slovakia.

Mr. Heber is an investment manager and stockbroker with over 20 years experience in global stock markets formerly with SGHambros Investment Management Ltd, Natwest Stockbrokers Ltd and WI Carr Investment Management Ltd. Since June 2003, Mr. Heber has been a director of bespoke boutique Savoy Investment Management, with over £1.2 billion of private and institutional funds under management. Mr. Heber is not only regulated by the FSA in London but also the FSB in Johannesburg and has a broad pan-African clientele alongside domestic UK, European and Bermudian business. He is currently director of AIM listed Cambria Africa plc focussed on investment in Zimbabwe, and Shanta Gold Plc, a gold exploration and development company focussed in Tanzania. 

Mr. Heber has demonstrated his commitment to the Ortac story with a holding of 2,600,000 shares in the Company which represents 0.1% of the issued share capital.

Ortac CEO Vassilios Carellas said, "I am delighted to welcome Paul to our growing and highly skilled board of directors and management at this exciting time for Ortac. His wealth of experience in global stock markets as well as his experience on the boards of other growth resource companies will be invaluable to our team as we progress the Company towards our goal of becoming a commercial producer of precious metals in the near term."

Mr. Paul David Heber, aged 49, is or has been a director of the following companies during the previous five years:

Save as set out in this announcement, there are no further matters to be disclosed in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.

**ENDS**