Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources 9 April 2014 Sula Iron and Gold plc ("Sula" or the "Company") Commenced Drilling to Define DSO Iron Mineral Resource Estimate
Sula Iron and Gold plc, a multi-commodity exploration company focussed on Sierra Leone, is pleased to announce that drilling has commenced at its Ferensola Iron Project located in the mineral rich Sula-Kangari Greenstone Belt in Sierra Leone (Ferensola or the Project), as part of a 2014 exploration programme, which aims to define a JORC Direct Shipping Ore (DSO) Iron Mineral Resource Estimate by the end of 2014.
Overview * Commenced planned drill programme targeting DSO mineralisation contained in a 3.1km Banded Iron Formation, proven to extend from African Minerals Limiteds 12.8Bt Tonkolili iron mine in Sierra Leone * Exploration follows nine hole 2,000m drill programme completed in September 2013, which demonstrated consistently high grade iron, with highs of 14.59m @ 55.54% iron (Fe) and 29.7m at 52.25% Fe * Drill programme prepared by leading mining consultants SRK Exploration Services * Steady news flow expected - first drill cores expected to be sent for analysis May 2014 * Results to help underpin commercial value of Ferensola, which is prospective for both iron and gold
Sula CEO Nick Warrell said, "With infill drilling now underway, Sula is set to significantly advance the Ferensola project as we look to prove up the iron mineralisation potential with a focus on defining a JORC DSO Iron Mineral Resource Estimate by the end of 2014.

Defining a maiden resource will be a major milestone for the Company and I am confident that with a fully funded programme, a proven exploration team and established infrastructure we have the necessary foundations in place to achieve this." Figure 1: Drill rig [Drill Rig 07]
Figure 2: Fly camp which is the operational HQ for the drill programme [Fly camp which is the operational HQ for the drill programme]
Figure 3: Geologists inspecting drill core [SL geos inspecting and logging drill core]
**ENDS** For further information please visit www.sulairongold.com or contact the following: Nick Warrell Sula Iron & Gold plc +44 (0) 78 1144 7830 Matt Wood Sula Iron & Gold plc +44 (2) 20 7583 8304 James Caithie / Avi Robinson Cairn Financial Advisers LLP +44 (0) 20 7148 7900 Martin Lampshire / David Hart Daniel Stewart & Company Plc +44 (0) 20 7776 6550 Felicity Edwards / Charlotte Heap St Brides Media and Finance Ltd +44 (0) 20 7236 1177
Notes Sula Iron & Gold plc is a multi-commodity exploration company focussed on West Africa.

The Companys main objective is to explore and advance its 153 sq km Ferensola Project, in Northern Sierra Leone, which is highly prospective for iron and gold.

An exploration target of 500 million tonnes at 30.4% iron for magnetite has been given by exploration consultants SRK Exploration Services Ltd. Exploration work at Ferensola has confirmed the presence of Banded Iron Formation ("BIF") at surface, which has a known strike length of 3.1km.

Significantly, the BIF is proven to extend NE from African Minerals 12.8 billion tonne operational Tonkolili iron mine, into Sulas licence area, which is located contiguously to Tonkolili.

Furthermore, a 2,000m scout drilling programme conducted over a 2.2km section of BIF in July 2013, confirmed consistently high grade iron mineralisation at Ferensola.

The Company is focussed on delineating a maiden JORC compliant iron resource on the DSO in 2014, and proving up the gold mineralisation in order to maximise the Ferensolas value potential.
Ferensolas ability to host a commercial iron deposit is underpinned by African Minerals Limiteds (African Minerals) 12.8Bt Tonkolili iron mine.

African Minerals has an integrated mine, rail and port infrastructure in place, and exported a total of 12.1Mt Fe during 2013, with 3.8Mt Fe exported in Q4 2013 and operations on track to achieve a 20Mtpa sustainable run. Significant Greenstone Belt-style gold mineralisation has also been identified at various prospects within the licence area.

Five target areas for hard rock gold mineralisation have been identified based on the location of historic drill intercepts, the source areas for alluvial gold deposits, and the position of major structures as defined by airborne magnetic data and drainage orientation.

Field work has been carried out recently and, following the processing and interpretation of all geophysical and assay results, Sula will be able to define robust drill targets at two principal target areas - the Lagunda and Yanfarina prospects.

Further targets are yet to be explored.
Felicity [cid:image002.png@01CECBDD.61F8A860] Felicity Edwards St Brides Media & Finance Ltd 3 St Michaels Alley, London, EC3V 9DS www.stbridesmedia.co.uk Tel: 0207 236 1177 | Mob: 07748843871 | Twitter: @StBrides1