Result of General Meeting

SULA IRON & GOLD PLC - Result of General Meeting

PR Newswire

London, May 2

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

Sula Iron & Gold plc, an iron ore and gold exploration company focussed onSierra Leone, announces that all resolutions were duly passed at the generalmeeting of the Company held earlier today.

Felicity Edwards/ Charlotte St Brides Media and Finance +44 (0) 20 7236 1177Heap

Notes

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

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

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