REG-Sula Iron & Gold Plc: Directorate Change

Wed Mar 6, 2013 7:15am EST

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Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources   

6 March 2013

                Sula Iron & Gold plc (`Sula' or `the Company')                 

                              Directorate Change                               

Sula Iron & Gold plc, an iron ore and gold exploration company focussed on
Sierra Leone, announces that Chris Wilson, its non-executive technical
director, has today resigned from the Board for personal reasons.

The Board would like to thank him for his valued contribution and wishes him
well for the future.

The Board intends to appoint a replacement technical director as soon as


For further information please visit or contact the

Brian Moritz                Sula Iron & Gold plc           +44 (0) 7976994300  
James Caithie / Avi         Cairn Financial Advisers LLP   +44 (0) 20 7148 7900
John-Henry Wicks / Alice    Northland Capital Partners     +44 (0) 20 7796 8800
Lane                        Limited                                            
Chris Rourke / Guy Wheatley Beaufort International         +44 (0) 20 7382 8387
                            Associates Limited                                 
Felicity Edwards/ Charlotte St Brides Media and Finance    +44 (0) 20 7236 1177
Heap                        Ltd                                                


Sula Iron & Gold plc is an iron ore and gold exploration company focussed on
West Africa. The Company's main objective is to explore and advance its key
Exploration Licence EL54/2011, in Northern Sierra Leone, which boasts a dual
commodity focus and is highly prospective for iron and gold. The 153 sq km
licence area is contiguous to African Minerals' operational Tonkolili iron
mine, which has a JORC compliant resource of 12.8 billion tonnes.

Exploration work at the Project has confirmed the presence of banded iron
formation (`BIF') at surface over a strike length of 3.1km and drill-ready. The
BIF extends NE from the Tonkolili mine into Sula's licence area. An exploration
target of 500 million tonnes at 30.4% iron for magnetite and 55% iron for
hematite has been given by independent mining consultants SRK Exploration
Services Ltd.

Significant greenstone-style gold mineralisation has also been identified at
various prospects within the licence area. Greenstone-style deposits are
typically located on or proximal to regional scale, deep seated faults and
lineaments. Artisanal miners have exploited placer gold within the Project area
for more than 60 years, and active workings are observed in at least five
separate areas.

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