Sula Iron & Gold plc / Index: AIM / Epic: SULA / Sector: Natural Resources 13 December 2013 Sula Iron & Gold plc (�Sula� or �the Company�) Issue of Equity and Director�s Dealing Sula Iron & Gold plc, a multi-commodity exploration company focussed on Sierra Leone announces that it has issued 4,217,878 new ordinary shares (�New Shares�) of 1 pence each in the capital of the Company (�Ordinary Shares�) in settlement of outstanding loans and fees totalling �84,357.56 owed by the Company at a share price of 2 pence per New Share. The New Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares.

Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM and it is expected that admission of the New Shares will become effective and that dealings in the New Shares will commence at 8.00am on 18 December 2013 (�Admission�). Following Admission, the Companys enlarged issued share capital will comprise 166,184,552 Ordinary Shares with voting rights (�Enlarged Share Capital�).

The Company does not hold any shares in treasury.

This figure of 166,184,552 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCAs Disclosure and Transparency Rules. The New Shares will represent approximately 2.5% of the Enlarged Share Capital.

The effective issue price of 2p for each New Share represents a premium of approximately 50% to the average mid-market closing price per Ordinary Share over the last 5 trading days. 2,503,677 of the New Shares are being issued to Nick Warrell, CEO of the Company, in settlement of interest free loans previously made by Mr Warrell to the Company of �24,073.54, with the balance of �26,000.00 being in settlement of outstanding directors� fees owed to Mr Warrell.

Following the issue of the New Shares, Mr Warrell�s holding of Ordinary Shares in the Company will increase to 47,503,677 Ordinary Shares, representing approximately 28.6% of the Enlarged Share Capital. 1,475,161 of the New Shares are being issued to Brian Moritz, former chairman of the Company, in settlement of interest free loans previously made by Mr Moritz to the Company of �29,503.22.

Following the issue of the New Shares, Mr Moritz�s holding of Ordinary Shares in the Company will increase to 12,225,161 Ordinary Shares, representing approximately 7.4% of the Enlarged Share Capital.
**ENDS**
For further information please visit www.sulairongold.com or contact the following:
Nick Warrell Sula Iron & Gold plc +44 (0) 7811 447830 James Caithie / Avi Robinson Cairn Financial Advisers LLP +44 (0) 20 7148 7900 Martin Lampshire / David Hart Daniel Stewart & Company Plc +44 (0) 20 7776 6550 Felicity Edwards / Charlotte Heap St Brides Media and Finance Ltd +44 (0) 20 7236 1177
Notes Sula Iron & Gold plc is a multi commodity exploration company focussed on West Africa.

The Companys main objective is to explore and advance its Ferensola Project, in Northern Sierra Leone, which is highly prospective for iron and gold.

Sula is currently focussed on delineating a maiden JORC compliant iron resource and proving up the gold mineralisation in 2014, by conducting soil geochemistry and ground geophysics prior to a diamond drilling programme, in order to maximise the Licence area�s value potential.

The 153 sq km licence area is contiguous to African Minerals� operational Tonkolili Iron Mine, which has a JORC compliant resource of 12.8 billion tonnes Fe. Exploration work at the project has confirmed the presence of Banded Iron Formation (�BIF�) at surface, which has a known strike length of 3.1km.

The BIF is proven to extend NE from the Tonkolili licence into Sula�s licence area.

A 2,000m scout drilling programme conducted over a 2.2km section of BIF, confirmed the Licence area�s prospectivity for consistently high grade iron mineralisation.

An exploration target of 500 million tonnes at 30.4% iron for magnetite and 55% iron for hematite has been given by exploration consultants SRK Exploration Services Ltd. Significant Greenstone Belt-style gold mineralisation has also been identified at various prospects within the licence area.

Five target areas for hard rock gold mineralisation have been identified based on the location of historic drill intercepts, the source areas for alluvial gold deposits, and the position of major structures as defined by airborne magnetic data and drainage orientation.
[cid:image002.png@01CECBDD.61F8A860] Charlotte Heap St Brides Media & Finance Ltd 3 St Michael�s Alley, London, EC3V 9DS www.stbridesmedia.co.uk Tel: 020 7236 1177 | Mob: 07771862283 | Twitter: @StBrides1