Power Metal Resources PLC Regulatory News (POW)

20 February 2017

Sula Iron & Gold plc

("Sula" or the "Company")

Sula Selected as Runner Up Company in African Mining Indaba "Battlefield Competition"

Sula (AIM: SULA), the multi-commodity exploration company focused on Sierra Leone, is pleased to announce that it was selected as Runner Up by the judges in a competition involving small cap Africa-focused exploration companies at the recent 2017 Cape Town African Mining Indaba ("African Mining Indaba").

The competition was a new initiative launched by African Mining Indaba, which small cap Africa-focused mining exploration companies were invited to enter. Each company involved was allocated a five minute slot to present on their company to a panel of experts, consisting of senior fund managers and larger mining company CEOs. Sixteen companies participated and Sula was selected as Runner Up. African Mining Indaba stated: "This recognises your project as one of the hottest emerging mining projects in the 2017 Mining Indaba".

African Mining Indaba will be placing more detail on the competition onto their website in the coming days, which can be found at www.miningindaba.com

A photograph of Roger Murphy, Sula's CEO collecting the Runner Up certificate from Phillip LoFaso, Director, Marketing & Media Relations, Mining Indaba is displayed via the link below:

http://www.rns-pdf.londonstockexchange.com/rns/2029X_-2017-2-17.pdf

Roger Murphy, Sula's CEO, commented:

"I'm delighted that the judges selected Sula from a strong field of competitors. It's excellent to see independent affirmation of the potential of our Ferensola project from such a strong panel of judges. On behalf of Sula, I'd like to thank and compliment the African Mining Indaba for this initiative"

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Note to editors:

Sula is an exploration company focused on Sierra Leone. The Company's main objective is to explore and advance its 153km2 Ferensola Project in Northern Sierra Leone, which is highly prospective for gold and iron ore. In December 2014, the Company achieved a corporate milestone in delivering its JORC MRE for the BIF 1 iron ore project. A total resource of 514.5Mt @ 31.8% Fe was identified and total oxide resource of 55.5Mt @ 45.39% Fe. In July 2015, the Company defined a JORC Exploration Target on its Ferensola Gold Project. The Exploration Target centres on Sanama Hill, with a tonnage range of between 5 and 7 million tonnes ("Mt"), grading at between 4 and 8 g/t Au, which equates to between 0.8 and 1.5 million ounces ("Moz") Au. The Exploration Target was restricted to a 2km strike length segment of the regional fold belt that is believed to extend for over 10km.