Directorate Change

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

31 October 2013

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

                              Directorate Change                               

Sula Iron & Gold plc, a multi-commodity exploration company focussed on Sierra
Leone, announces that Gavin Burnell has stepped down as a non-executive
Director of the Company.

Sula CEO Nick Warrell said, "As a co-founder of the Company, having assisted
during its formative and development stages culminating in Sula's flotation on
AIM in 2012 we express our thanks to Gavin for his assistance and support to
date. In line with our plans to further strengthen the Board, we plan to
recruit a replacement non-executive Director in due course."

                                   **ENDS**                                    

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

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


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.