REG-Sula Iron & Gold Plc: Directorate Change
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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 practicable. **ENDS** For further information please visit www.sulairongold.com or contact the following: Brian Moritz Sula Iron & Gold plc +44 (0) 7976994300 James Caithie / Avi Cairn Financial Advisers LLP +44 (0) 20 7148 7900 Robinson 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 Notes 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. END