Regulatory News Item
Jan 13, 2014

Announcement by Ortac re. Andiamo


Paternoster is pleased to note the announcement earlier today in relation to one of its investments, Andiamo Exploration Limited ("Andiamo"), a company that is currently developing gold-copper projects in Eritrea.

Ortac Resources Limited ("Ortac"), a company listed on AIM, announced earlier today that it had entered into a subscription agreement to acquire up to 26.7% of the enlarged share capital of Andiamo for US$1.5 million. This will provide Andiamo with the necessary funding to carry out additional drilling, review additional targets that have been identified and support Andiamo's application for a full mining licence.

In addition, Ortac has secured the right to invest an additional US$2.0 million in Andiamo as appropriate.

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