Power Metal Resources PLC Regulatory News (POW)

Sula Iron & Gold

("Sula" or the "Company")

Completion of Magnetometer Survey at Ferensola Project

Sula Iron & Gold, the exploration and development company focused on iron ore, gold and coltan in Sierra Leone, is pleased to announce the completion of a magnetometer survey carried out by SEMS on BIF-2 at its 100% owned Ferensola Project. One hundred and ninety six line km's of ground magnetic data was collected over an area encompassing approximately 35km2.

The BIF-2 area is a potential extension to the Company's main BIF unit, BIF-1 on which a resource is currently being estimated. The survey also covered a large area prospective for gold including an area which was historically drilled reporting: 8.72m@10.46g/t Au, 2.00m@8.76g/t Au, 9.03m@6.63g/t Au and 1.55m@11.68g/t Au.

These results should show the extent of any strongly magnetic units, which may represent extensions to both known BIF units or new ones. Results may also highlight both regional and prospect scale structures that may be important in hosting or controlling gold mineralisation thereby aiding in gold target identification.

**ENDS**

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

Notes

Sula Iron & Gold plc is a multi-commodity exploration company focused in West Africa. The Company's main objective is to explore and advance its 153 sq. km Ferensola Project in Northern Sierra Leone, which is highly prospective for iron, gold and coltan.

The information in this release that relates to Exploration Results has been reviewed by Mr Andrew Dacey, Non-Executive Technical Director of Sula Iron and Gold plc. Mr Dacey is a Fellow of the Institute of Materials Minerals and Mining, a Registered Professional Geologist with the Australian Institute of Geoscientists and a Competent Person as defined in the Australasian Code for Reporting of Exploration Results and Mineral Resources and Ore Reserves.