Directorate Change

Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources 31 October 2013 Sula Iron & Gold plc (`Sula' or `the Company') Directorate Change Sula Iron & Gold plc, a multi-commodity exploration company focussed on SierraLeone, announces that Gavin Burnell has stepped down as a non-executiveDirector of the Company. Sula CEO Nick Warrell said, "As a co-founder of the Company, having assistedduring its formative and development stages culminating in Sula's flotation onAIM in 2012 we express our thanks to Gavin for his assistance and support todate. In line with our plans to further strengthen the Board, we plan torecruit a replacement non-executive Director in due course." **ENDS** For further information please visit www.sulairongold.com or contact thefollowing: Nick Warrell Sula Iron & Gold plc +44 (0) 7811 447830 James Caithie / Cairn Financial Advisers LLP +44 (0) 20 7148 7900Avi Robinson Martin Lampshire / Daniel Stewart & Company Plc +44 (0) 20 7776 6550David Hart Felicity Edwards / St Brides Media and Finance Ltd +44 (0) 20 7236 1177Charlotte Heap Notes Sula Iron & Gold plc is a multi commodity exploration company focussed on WestAfrica. The Company's main objective is to explore and advance its FerensolaProject, in Northern Sierra Leone, which is highly prospective for iron andgold. Sula is currently focussed on delineating a maiden JORC compliant ironresource and proving up the gold mineralisation in 2014, by conducting soilgeochemistry and ground geophysics prior to a diamond drilling programme, inorder to maximise the Licence area's value potential. The 153 sq km licencearea is contiguous to African Minerals' operational Tonkolili Iron Mine, whichhas a JORC compliant resource of 12.8 billion tonnes Fe. Exploration work at the project has confirmed the presence of Banded IronFormation (`BIF') at surface, which has a known strike length of 3.1km. The BIFis proven to extend NE from the Tonkolili licence into Sula's licence area. A2,000m scout drilling programme conducted over a 2.2km section of BIF,confirmed the Licence area's prospectivity for consistently high grade ironmineralisation. An exploration target of 500 million tonnes at 30.4% iron formagnetite and 55% iron for hematite has been given by exploration consultantsSRK Exploration Services Ltd. Significant Greenstone Belt-style gold mineralisation has also been identifiedat various prospects within the licence area. Five target areas for hard rockgold mineralisation have been identified based on the location of historicdrill intercepts, the source areas for alluvial gold deposits, and the positionof major structures as defined by airborne magnetic data and drainageorientation.