Directorate Change

25 March 2013

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

                              Directorate Change                               

Sula Iron & Gold plc, an iron ore and gold exploration company focussed on
Sierra Leone, is pleased to announce the appointment of Gareth O'Donovan as its
non-executive technical director.

Gareth O'Donovan is a Corporate Consultant Geologist (Exploration) with over 27
years' experience in mining and exploration projects in Africa, South America,
the Russian Federation and Asia. He specialises in the design, implementation
and management of exploration projects from grassroots to pre-feasibility in
all terrains and environments, mobilising multi-disciplinary field teams, and
more recently reviews, competent person's reports, audits and valuations of
exploration and mining properties world-wide and in a variety of commodities.
For the past ten years he has been Managing Director of SRK Exploration
Services Ltd.

Chairman Brian Moritz commented: "On behalf of the Sula Board, I am delighted
to announce Gareth's appointment as our Technical Director. Gareth brings a
wealth of technical and commercial experience, which will be of significant
benefit, contributing to the excellent start of the planned exploration
programme on the Company's iron and gold project in Sierra Leone, West Africa."


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

Anthony Gareth O'Donovan, aged 51, has, or has held within the last 5 years,
the following directorships or partnerships:

Current                                 Previous                               
                                                                               
All Terrain Exploration Services        Amlib Holdings                         
Limited                                                                        
                                                                               
All Terrain Drilling Services Limited   GEO Associates Limited                 
                                                                               
SRK Exploration Services Limited                                               

Save as set out in this announcement there are no other disclosures in respect
of this appointment that fall to be made under Rule 17 or paragraph (g) of
Schedule 2 to the AIM Rules for Companies.


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

Brian Moritz                Sula Iron & Gold plc           [phone]
                                                                               
James Caithie / Avi         Cairn Financial Advisers LLP   [phone]
Robinson                                                                       
                                                                               
John-Henry Wicks / Alice    Northland Capital Partners     [phone]
Lane                        Limited                                            
                                                                               
Chris Rourke / Guy Wheatley Beaufort International         [phone]
                            Associates Ltd                                     
                                                                               
Felicity Edwards/ Charlotte St Brides Media and Finance    [phone]
Heap                        Ltd