| Thu Jun 23, 2011 Sultan Minerals Provides Shareholder Update | |
| June 23, 2011, Vancouver, BC - Sultan Minerals Inc. (SUL-TSX-V) ("Sultan") wishes to provide a review and update for its shareholders on its 2011 activities. Sultan is currently focused on planning for the exploration and development of its BC projects. Since the beginning of the year Sultan has obtained quotes from a number of engineering firms regarding project advancement and been in discussions with several companies who have executed confidentiality agreements. Management is reviewing all options that will be suitable and beneficial to Sultan and its shareholders. During Sultan's planning and discussion stages, global economic concerns and weaknesses in macro-economic data have resulted in a 23% decline in the Toronto Venture Exchange since early March, affecting all junior exploration companies. Despite this, the commodity markets (gold, copper, tungsten) in which Sultan has an interest in continues to be strong and Sultan's management remains committed to advancing and developing its projects. Sultan's Consultants are currently compiling and reviewing previous years exploration data and in the process of finalizing a recommendation report for the 2011 exploration season. In addition discussions are currently under way with several potential joint venture partners for both projects. Sultan has two advanced exploration projects in the Kootenay Region of southeastern BC. In 2009 and 2010 Sultan aggressively explored and expanded the two projects, both of which now have sizeable NI 43-101 compliant mineral resource estimates. Kena open pit gold-copper project:
Jersey-Emerald Tungsten-Zinc project: Tungsten Resource:
Zinc Resource:
Sultan has an experienced management team and board of directors, with a history of exploring, developing and financing mining projects who are dedicated to advancing its projects to the development stage. For further information on Sultan's projects, visit www.sultanminerals.com. Arthur G. Troup, P.Eng., Geological President and CEO For further information, please contact: Marc Lee, Investor & Corporate Communications Tel: (604) 628-0519 Fax: (604) 628-0446 Email: mlee@sultanminerals.com or info@sultanminerals.com This release was prepared by Sultan's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Sultan expects are forward-looking statements. Although Sultan believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Sultan, investors should review Sultan's filings that are available at www.sedar.com or Sultan's website at www.sultanminerals.com. | |
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