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SULA IRON & GOLD PLC - Ebola Virus Disease Update

July 30, 2014



31 July 2014Sula Iron & Gold plc ("Sula" or the "Company") Ebola Virus Disease Update Sula Iron and Gold plc, a multi-commodity exploration company focussed on Sierra Leone, recognises the heightened risk in connection with Ebola Virus Disease ("EVD") in West Africa. The Board would like to assure shareholders that, despite the increase in reported EVD cases, the Company's operations at its Ferensola Project, in the Diang Chiefdom, Sierra Leone, have not been affected. Sula's drilling campaign for both the haematite and magnetite JORC Mineral Resource Estimates was completed on 9 July 2014. All samples from both drill programmes are now with ALS for analysis. The samples requested by SRK UK for metallurgical test work, which are required for the JORC compliant Mineral Resource Estimate, have been dispatched to SGS Mineral Services UK Limited in the United Kingdom for analysis. As previously announced, the Company anticipates receiving all analytical results by September and aims to complete JORC compliant Mineral Resource Estimates 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 in August to coincide with the expected heavy rains. The project consequently is on a care and maintenance status. Exploration is scheduled to recommence in early September. Enquires: Sula Iron & Gold plc +44 (0) 20 7583 8304 Nick Warrell / Matt Woodwww.sulaironandgold.comCairn Financial Advisers LLP +44 (0) 20 7148 7900 James Caithie / Avi RobinsonDaniel 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 West Africa. The Company's main objective is to explore and advance its Ferensola Projects, in Northern Sierra Leone, that are highly prospective for iron and gold. Sula is currently focussed on delineating a maiden JORC compliant iron resource estimate and evaluating the gold prospectivity. 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 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 from the Tonkolili licence and into Sula's licence area. A 2,000m scout drilling programme conducted over a 2.2km section of BIF, confirmed the licence area's prospectivity for high-grade iron mineralisation. 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. The information in this release that relates to Exploration Results has been reviewed by Mr Andrew Dacey, Non-Executive Technical Director of Sula Iron & Gold plc. Mr Dacey is a Fellow of the Institute of Materials Minerals and Mining, a Registered Professional Geologist with the Australian Institute of Geoscientists and a Competent Person as defined in the Australasian Code for Reporting of exploration results and Mineral Resources and Ore Reserves.




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Source: PR Newswire (UK Disclosure)


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