Power Metal Regulatory News (POW)

Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources 31 March 2014 Sula Iron and Gold plc ("Sula" or the "Company") AGM Results and Update on Drilling Programme Sula Iron and Gold plc, a multi-commodity exploration company focussed onSierra Leone, announces that all resolutions were duly passed at the annualgeneral meeting of the Company held earlier today. In addition, the Company wishes to announce that it has completed theestablishment of its drilling base camp at the Company's flagship FerensolaIron Project located in the mineral rich Sula-Kangari Greenstone Belt in SierraLeone on schedule. Sula's drill programme, prepared by SRK Exploration Services, is anticipated tocommence in the coming days, with regular news flow and drilling updatesthroughout the 2014 field season as the Company works towards estimating amaiden JORC compliant Direct Shipping Ore (`DSO') resource. The Company expects to receive the results from its gold exploration programme,which was completed at the end of February, before the end of April 2014. TheCompany intends to use these results to identify future drill targets,targeting gold mineralisation. Sula CEO Nick Warrell said, "I am delighted with the progress achieved inestablishing our drilling base camp. With the necessary infrastructure inplace, we are well set to commence drilling on our prospective licence, as wework towards estimating a JORC compliant DSO resource by the end of the year." **ENDS** For further information please visit www.sulairongold.com or contact thefollowing: 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 Cairn Financial Advisers LLP +44 (0) 20 7148 7900Robinson Martin Lampshire / David Daniel Stewart & Company Plc +44 (0) 20 7776 6550Hart Felicity Edwards / St Brides Media and Finance +44 (0) 20 7236 1177Charlotte Heap Ltd Notes Sula Iron & Gold plc is a multi-commodity exploration company focussed on WestAfrica. The Company's main objective is to explore and advance its 153 sq kmFerensola Project, in Northern Sierra Leone, which is highly prospective foriron and gold. An exploration target of 500 million tonnes at 30.4% iron formagnetite has been given by exploration consultants SRK Exploration ServicesLtd. Exploration work at Ferensola has confirmed the presence of Banded IronFormation ("BIF") at surface, which has a known strike length of 3.1km.Significantly, the BIF is proven to extend NE from African Mineral's 12.8billion tonne operational Tonkolili iron mine, into Sula's licence area, whichis located contiguously to Tonkolili. Furthermore, a 2,000m scout drillingprogramme conducted over a 2.2km section of BIF in July 2013, confirmedconsistently high grade iron mineralisation at Ferensola. The Company isfocussed on delineating a maiden JORC compliant iron resource on the DSO in2014, and proving up the gold mineralisation in order to maximise theFerensola's value potential. Significant Greenstone Belt-style gold mineralisation has also been identifiedat various prospects within the licence area. Five target areas for hard rockgold mineralisation have been identified based on the location of historicdrill intercepts, the source areas for alluvial gold deposits, and the positionof major structures as defined by airborne magnetic data and drainageorientation. Field work has been carried out recently and, following theprocessing and interpretation of all geophysical and assay results, Sula willbe able to define robust drill targets at two principal target areas - theLagunda and Yanfarina prospects. Further targets are yet to be explored.