Power Metal Resources PLC Regulatory News (POW)

30 March 2017

SULA IRON & GOLD PLC

("Sula" or the "Company")

AGM Statement

Sula (AIM: SULA), the gold exploration company focused on Sierra Leone, will hold its Annual General Meeting ("AGM") at 11.00 a.m. today at its registered office at 201 Temple Chambers, 3-7 Temple Avenue, London EC4Y 0DT. At the AGM, Sula's Chief Executive Officer, Roger Murphy, will make the following statement:

"I returned on Monday of this week from my latest visit to the Dalakuru exploration camp at our Ferensola Project. I'm glad to report that the drill programme is ongoing, as is processing of the core we are generating from such drilling. We will submit this core for assays to a laboratory in Ireland, and will report the results of the assays as soon as they become available. Whilst on site, I was again reminded of how prospective our licence is for gold, and observed intense artisanal activity in the streams that transect the hills where our drilling programme is focused.

We believe that there is a lot more gold to be found at Ferensola and your board and operational team is focused on that process. As a consequence, we intend to seek approval from shareholders in the coming months to change the Company's name to Sula Gold plc to emphasise and reinforce this focus. We intend to send a short circular to shareholders to convene a general meeting to approve the name change in due course."

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The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.