Zoltav Resources Inc. Announces Management Changes

Zoltav Resources Inc. (Zoltav) is an oil and gas exploration and production company. The principal activities of the Company are the acquisition, exploration and development of hydrocarbon assets and production of hydrocarbons in the Russian Federation. The Company is focused on acquiring and developing assets in the Commonwealth of Independent State (CIS). The Company holds the Bortovoy License in the Saratov region of South Western Russia, which has approximately 3,210 square kilometers area along the northern margin of the Pre-Caspian basin. Zoltav also holds the Koltogor Exploration and Production License, which has approximately 530 square kilometers area in the Khantiy-Mansisk Autonomous Okrug of Western Siberia. In addition, Zoltav holds Koltogor Exploration License 10, which has approximately 170 square kilometers area due west of the Koltogor Exploration and Production License, on which Zoltav is engaged in an exploration and appraisal program.