TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Zanaga Iron Ore Co Ltd

2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights		Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):

3. Full name of person(s) subject to the notification obligation:

F&C Asset Management plc

4. Full name of shareholder(s) (if different from 3.):

See box 9 below

5. Date of the transaction and date on which the threshold is crossed or reached:

23^rd May 2013

6. Date on which issuer notified:

24^th May 2013

7. Threshold(s) that is/are crossed or reached:

8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights
			Direct	Direct	Indirect	Direct	Indirect
VGG9888M1023	13,938,854	13,938,854	12,735,259	-	12,735,259	-	4.57%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ Conversion Period	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights

Total (A+B+C)

Number of voting rights

Percentage of voting rights

12,735,259

4.57%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

F&C Asset Management plc:-
Client	No. of voting rights	% of total voting rights	Registration name
No client holding above 3%

Proxy Voting:

10. Name of proxy holder:

F&C Asset Management plc

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Based on Total Voting Rights of 278,776,530

14 Contact name:

Stephen Macnamara, F&C Asset Management plc

15. Contact telephone name:

0131 718 1148

For notes on how to complete form TR-1 please see the FSA website.

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in shares

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

Zanaga Iron Ore Co Ltd

Contact address

(registered office for legal entities)

3 Grafton Street

London

W1S 4EE

Phone number & email

Tel: 020 7399 1105
Email: at@zanagairon.com

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

Stephen Macnamara, F&C Asset Management plc

Contact address

80 George Street, Edinburgh EH2 3BU

Phone number & email

0131 718 1148

Stephen.macnamara@fandc.com

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise
price

Expiration
date

Exercise/
Conversion
period

Number of voting
rights instrument
refers to

% of voting rights