Ebola Virus Disease Update

31 July 2014 Sula Iron & Gold plc ("Sula" or the "Company") Ebola Virus Disease Update Sula Iron and Gold plc, a multi-commodity exploration company focussed onSierra Leone, recognises the heightened risk in connection with Ebola VirusDisease ("EVD") in West Africa. The Board would like to assure shareholdersthat, despite the increase in reported EVD cases, the Company's operations atits Ferensola Project, in the Diang Chiefdom, Sierra Leone, have not beenaffected. Sula's drilling campaign for both the haematite and magnetite JORC MineralResource Estimates was completed on 9 July 2014. All samples from both drillprogrammes are now with ALS for analysis. The samples requested by SRK UK for metallurgical test work, which are requiredfor the JORC compliant Mineral Resource Estimate, have been dispatched to SGSMineral Services UK Limited in the United Kingdom for analysis. As previously announced, the Company anticipates receiving all analyticalresults by September and aims to complete JORC compliant Mineral ResourceEstimates on both the DSO and magnetite iron by the end of the calendar year. The Company's Ferensola project, and its Dalakuru base camp, will be closed inAugust to coincide with the expected heavy rains. The project consequently ison a care and maintenance status. Exploration is scheduled to recommence inearly September. Enquires: Sula Iron & Gold plc +44 (0) 20 7583 8304 Nick Warrell / Matt Wood www.sulaironandgold.com Cairn Financial Advisers LLP +44 (0) 20 7148 7900 James Caithie / Avi Robinson Daniel Stewart & Company Plc +44 (0) 20 7776 6550 Martin Lampshire / David Hart Yellow Jersey PR +44 (0)7768 537 739 Dominic Barretto / Kelsey Traynor Notesto Editors: Sula Iron & Gold plc is a multi-commodity exploration company focussed on WestAfrica. The Company's main objective is to explore and advance its FerensolaProjects, in Northern Sierra Leone, that are highly prospective for iron andgold. Sula is currently focussed on delineating a maiden JORC compliant ironresource estimate and evaluating the gold prospectivity. The 153 sq km licencearea is contiguous to African Minerals' operational Tonkolili Iron Mine, whichhas a JORC compliant resource of 12.8 billion tonnes iron mineralisation. Exploration work at the project has confirmed the presence of BIF at surface,which has a known strike length of 3.1km. The BIF is proven to extend NE fromthe Tonkolili licence and into Sula's licence area. A 2,000m scout drillingprogramme conducted over a 2.2km section of BIF, confirmed the licence area'sprospectivity for high-grade iron mineralisation. 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. The information in this release that relates to Exploration Results has beenreviewed by Mr Andrew Dacey, Non-Executive Technical Director of Sula Iron &Gold plc. Mr Dacey is a Fellow of the Institute of Materials Minerals andMining, a Registered Professional Geologist with the Australian Institute ofGeoscientists and a Competent Person as defined in the Australasian Code forReporting of exploration results and Mineral Resources and Ore Reserves.