Appointment of Director

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

5 November 2013

                Sula Iron & Gold plc (`Sula' or `the Company')                 

                            Appointment of Director                            

Sula Iron & Gold plc, an iron ore and gold exploration company focussed on
Sierra Leone, is pleased to announce the appointment of Mr. Matt Wood as a
Non-Executive Director with immediate effect.

Mr. Wood brings a broad range of managerial skills to the role, gained during a
career spanning more than 15 years in the financial sector. He is the Managing
Director and one of the founders of CMS Advisory Group (`CMS'), a City-based
multi-disciplined advisory firm founded in 2006, which provides a full suite of
plc services to growth companies, utilising the small cap expertise of its
staff in the areas of corporate finance, corporate law, management accounts and
company secretarial.

Prior to this Mr. Wood, who is a qualified chartered accountant, worked as a
Nomad in the corporate finance department of Beeson Gregory (which became
Evolution Securities and was later sold to Investec), advising both AIM and
Full List companies on a wide range of transactions including IPOs, secondary
fundraisings, mergers and acquisitions and corporate restructurings.

Mr. Wood is an experienced Non-Executive Director and is currently a Director
of Westminster Group Plc and Avarae Global Coins Plc, where he sits on both
their audit and remuneration committees.

Sula Chief Executive Nick Warrell said, "I am delighted to welcome Matt to the
Company as our new Non-Executive Director.  Matt's commercial understanding
coupled with his extensive corporate finance experience makes him a valuable
addition to our team as we continue to develop our Ferensola Project in Sierra
Leone, which is highly prospective for iron and gold."

Further information pursuant to Schedule 2 (g) of the AIM Rules for Companies

Matthew Graham Wood, aged 40, has, or has held within the last 5 years, the
following directorships or partnerships:

Current                                 Previous                               
                                                                               
ABT Associates Limited                  Alps Corporate Advisers Limited        
                                                                               
Ascona Capital Limited                  Creon Resources (Asia) PTE Limited     
                                                                               
Avarae Global Coins plc                 Hermes Pacific Financial Limited       
                                                                               
CMS Advisory (Legal) Limited            Hermes Pacific Investments plc         
                                                                               
CMS Advisory Group Limited              Locarno Capital Limited                
                                                                               
CMS Capital Limited                     Meon Drinks Limited                    
                                                                               
CMS Corporate Consultants Limited       STM Fidecs Limited                     
                                                                               
CMS Corporate Services Limited          STM Group plc                          
                                                                               
Dynamis Limited                         STMGEI Limited                         
                                                                               
Elevated Entertainment Systems Limited  Verdes Management plc                  
                                                                               
European Financial Planning Consultants Wickham Holdings Limited *             
Limited                                                                        
                                                                               
Green Holdings plc                                                             
                                                                               
Shutford Grounds Farm (Partnership)                                            
                                                                               
Westminster Group plc.                                                         

* Mr Wood was appointed as a non-executive director of Wickham Holdings Limited
(WHL) in March 2012. Mr Wood stepped down on 16 November 2012. WHL was put into
liquidation on 23 May 2013. The liquidation of WHL is on-going.

                                   **ENDS**                                    

For further information please visit www.sulairongold.com or contact the
following:

Nick Warrell                Sula Iron & Gold plc           [phone] 
                                                                               
James Caithie / Avi         Cairn Financial Advisers LLP   [phone]
Robinson                                                                       
                                                                               
Martin Lampshire / David    Daniel Stewart & Company Plc   [phone]
Hart                                                                           
                                                                               
Felicity Edwards /          St Brides Media and Finance    [phone]
Charlotte Heap              Ltd                                                

Notes

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
Project, in Northern Sierra Leone, which is highly prospective for iron and
gold. Sula is currently focussed on delineating a maiden JORC compliant iron
resource and proving up the gold mineralisation in 2014, by conducting soil
geochemistry and ground geophysics prior to a diamond drilling programme, in
order to maximise the Licence area's value potential. 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 Fe.

Exploration work at the project has confirmed the presence of Banded Iron
Formation (`BIF') at surface, which has a known strike length of 3.1km. The BIF
is proven to extend NE from the Tonkolili licence 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 consistently high grade iron
mineralisation. An exploration target of 500 million tonnes at 30.4% iron for
magnetite and 55% iron for hematite has been given by exploration consultants
SRK Exploration Services Ltd.

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.