Power Metal Regulatory News (POW)

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 onSierra Leone, is pleased to announce the appointment of Mr. Matt Wood as aNon-Executive Director with immediate effect. Mr. Wood brings a broad range of managerial skills to the role, gained during acareer spanning more than 15 years in the financial sector. He is the ManagingDirector and one of the founders of CMS Advisory Group (`CMS'), a City-basedmulti-disciplined advisory firm founded in 2006, which provides a full suite ofplc services to growth companies, utilising the small cap expertise of itsstaff in the areas of corporate finance, corporate law, management accounts andcompany secretarial. Prior to this Mr. Wood, who is a qualified chartered accountant, worked as aNomad in the corporate finance department of Beeson Gregory (which becameEvolution Securities and was later sold to Investec), advising both AIM andFull List companies on a wide range of transactions including IPOs, secondaryfundraisings, mergers and acquisitions and corporate restructurings. Mr. Wood is an experienced Non-Executive Director and is currently a Directorof Westminster Group Plc and Avarae Global Coins Plc, where he sits on boththeir audit and remuneration committees. Sula Chief Executive Nick Warrell said, "I am delighted to welcome Matt to theCompany as our new Non-Executive Director. Matt's commercial understandingcoupled with his extensive corporate finance experience makes him a valuableaddition to our team as we continue to develop our Ferensola Project in SierraLeone, 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, thefollowing 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 intoliquidation on 23 May 2013. The liquidation of WHL is on-going. **ENDS** For further information please visit www.sulairongold.com or contact thefollowing: Nick Warrell Sula Iron & Gold plc +44 (0) 7811 447830 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 FerensolaProject, in Northern Sierra Leone, which is highly prospective for iron andgold. Sula is currently focussed on delineating a maiden JORC compliant ironresource and proving up the gold mineralisation in 2014, by conducting soilgeochemistry and ground geophysics prior to a diamond drilling programme, inorder to maximise the Licence area's value potential. The 153 sq km licencearea is contiguous to African Minerals' operational Tonkolili Iron Mine, whichhas a JORC compliant resource of 12.8 billion tonnes Fe. Exploration work at the project has confirmed the presence of Banded IronFormation (`BIF') at surface, which has a known strike length of 3.1km. The BIFis proven to extend NE from the Tonkolili licence into Sula's licence area. A2,000m scout drilling programme conducted over a 2.2km section of BIF,confirmed the Licence area's prospectivity for consistently high grade ironmineralisation. An exploration target of 500 million tonnes at 30.4% iron formagnetite and 55% iron for hematite has been given by exploration consultantsSRK Exploration Services Ltd. 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.