Sula Iron & Gold plc announced the results of a period of reconnaissance fieldwork for coltan carried out by Sula's technical team which commenced in September 2014. This programme was designed by SRK Exploration Ltd. and included Sula's technical staff visiting most of the artisanal mining areas within the exploration licence and assessing whether coltan was being produced as a by-product of artisanal gold mining or as the main product. Samples were obtained from alluvial gravels at 46 locations.

The samples were screened with a 2 mm sieve and the < 2 mm fraction panned to a heavy mineral concentrate and analysed at an ALS laboratory. The results for all 46 samples have been used to provide an initial indication of prospective areas for coltan mineralisation. Due to the nature of pan concentrate sampling, the results are indicative only and do not provide values for in-situ grade.

The results for tantalum show 9 samples with elevated concentrations (>0.1% tantalum) and some samples with high grades. One sample in the southeast quadrant of the licence area grades at more than 3% tantalum and provides strong evidence for the presence of coltan mineralisation in the vicinity. Other high grade samples are found near the eastern boundary of the licence but are found along streams that flow from deeper within the licence area, suggesting that further alluvial and primary coltan mineralisation may be found in this part of the licence.

The results of this reconnaissance work, whilst only indicative, provide useful guidance as to the main prospective areas within the exploration licence and provide further support to this area's potential to host deposits of coltan mineralisation. The results will be used to guide the on-going pitting programme for coltan, which will provide more quantitative data.