sula iron & gold plc unlocking value · sula iron & gold plc –unlocking value. ... •the...

Gold Exploration in Sierra Leone

April 2017

Sula Iron & Gold Plc – Unlocking Value

Sula – Ticking the boxes

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High grade gold Exploration Target 11

Significant gold exploration potential over the remaining licence area

Artisanals confirm gold presence

Deeply experienced management team with complimentary skills

Madini Minerals as technical and corporate consultants

The right time in a recovering Sierra Leone

Strong community support

2400m drill programme ongoing

1. An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. http://www.jorc.org/docs/JORC_code_2012.pdf

Sula Iron & Gold plc │ Corporate Presentation | April 2017

http://www.jorc.org/docs/JORC_code_2012.pdf

Key Capital Markets Data

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Market AIM

EPIC SULA

Share price 0.47p (19.04.17)

Market capitalisation $13.3mn (19.04.17)

Shares in issue 2.215 bn

Nominated advisor Strand Hanson

Broker VSA Capital

Technical Advisors Madini Minerals

Significant shareholders %

Galactic Tide 13.7

Nick Warrell, COO 2.4

Roger Murphy, CEO 0.8

Howard Baker, NED Tech Dir 0.4

Matt Wood, CFO 0.3

Iain Macpherson, NED 1.6

Sula Iron & Gold Plc

Blue Horizon (SL) Ltd100% owned subsidiary

Licence EL54/2011(Ferensola Project)

Granted 24 Aug 2011Renewed 7 Nov 2016

Sula – On the Road to Recovery

Source: LSE


Strong Board with Complimentary Skills

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o .

Roger MurphyChief Executive Officer

o Almost 30 years’ of equity capital markets experience , focused entirely on mining sector, with Warburgs, Deutsche Bank, Canaccord, Rencap & Dundee Securities, where he was Head of London Office

o Partner in Madini Minerals

o Geologist by training with gold exploration experience in Africa

Nick WarrellChief Operating Officer

o 25 years’ experience in Sierra Leone, with deep local relationships, Paramount Chief of areaaround Ferensola Gold Project

o Career entrepreneur-miner with 30+ years’ experience of owning and running mining companies

Matt WoodFinance Director

o Experienced Finance Director and NED of AIM Companieso Chartered accountant with broad City experience, including as a NOMAD with Beeson Gregory

(which became Evolution Sec)o MD & co-founder of ONE Advisory Group, which provides financial, legal and company

secretarial services to a range of AIM companies

Howard BakerNon-Executive Technical Director

o Geologist with over 20 years’ industry experience including exploration geology, mining geology,resource geology and consulting for companies including Western Mining, Iluka, BHP Billiton &Rio Tinto

o Former Principal Consultant (Resource Geology) and Practice Leader at SRK Consulting (UK) Ltd(“SRK”), which he left to join Sula

Iain MacphersonNon-Executive Director

o Mining Engineer over 30 years’ experience building and running mines across Africa and elsewhere

o Strong capital markets experience as former CEO Elemental Minerals, COO Uramin,

o Co-founder Madini, (Sula’s largest shareholder), a group of similarly experienced mining professionals focusing on African near cash high margin mining projects


Licence Location

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Shandong Iron and Steel (12.8 billion tonne Tonkolili iron ore mine)

Polo Resources Limited (Nimini-Komahun Gold Project)

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ACTIVE IN THE REGION INCLUDE


Ferensola – Summary of Work Completed

• Maiden Exploration Target1 defined by SRK Consulting (UK) Ltd

5-7Mt grading at 4 to 8g/t Au for 0.8 to 1.5Moz Au

• Exploration Target 1 based on a 2km portion of a mineralised fold belt in excess of 10km strike length and 5km width

• Mineralisation is dominantly hosted by NE-SW trending brecciated quartz-pyrite shear zones

• November 2015 drilling on Sanama Hill resulted in an average grade of 4.21g/t Au, with multiple overlapping high grade shears identified over a 480m strike length from within a portion of the Exploration Target

• Ongoing regional samples of oxidised sulphides and fresh quartz / pyrite show grades averaging 9g/t Au and up to 69.2g/t Au

• September 2016 - IP Resistivity data shows 8.5km of highly prospective “drill ready” targets believed to be derived from substantive metallic sulphides

• March 2017 – 2,400m drilling focused on Eastern Target & Sanama Hill ongoing.

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1. An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. http://www.jorc.org/docs/JORC_code_2012.pdf


http://www.jorc.org/docs/JORC_code_2012.pdf

Sanama Hill Exploration Target and Regional Potential

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JORC compliant Exploration Target defined by SRK: 5-7Mt grading at 4-8g/t Au for 0.8 to 1.5Moz

• The Exploration Target covers a localised2km portion (white box) of theinterpreted fold belt which is in excess of10km.

• The Exploration Target area is defined byhistorical drill resampling and fieldmapping / grab sampling.

• Mineralisation extends well beyond theextents of the current Exploration Targetarea which represents significant upsideexploration potential.

• Regional sample locations identify highgrade gold across licence area. Samplesinclude soil samples, trench assays, oxidegrab samples and massive sulphide grabsamples.


Regional Sampling Averages 9.0g/t

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Regional mapping / sampling continues to identify high grade mineralisation that is associated with the regional anomalies

• Oxide samples from approximately 2km south of the Exploration Target return an average grade of 9.0g/t Au

• A quartz-pyrite sample returns a grade of 69.2g/t Au

• All samples located along the defined fold belt


Prominent Exploration Targets

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Sanama Hill drill site (TZ0)

Dalakuru Village & Sula Camp

Eastern Target (TZ2)

TZ4

View looking north showing the more prominent Eastern Anomaly TZ2 ridge when compared to Sanama Hill which hosts our Exploration Target


Drilling the Eastern Target (TZ2)

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Sanama HillDalakuru Village & Sula Camp


High Grade Mineralisation – Pyrite Association

• High grade assays returned from primary sulphides and the weathered derivatives:

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Artisanal Weathered Sulphides

Massive Sulphide Folded Massive Sulphides

Primary Sulphides in Drill core

17 Oxide Samples with an average grade of 9.0g/t Au

High grade massive sulphide grading ~10-20g/t Au flanked by sub-ordinate vein mineralisation grading 0.5 to 3g/t Au

Average Grade – 4.21g/t Au

High grade fold hinge


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2016 – Induced Polarisation / Resistivity Survey

• IP Survey identifies 8.5kmacross 6 target zones believed to be potentially mineralised sulphides

• Intense artisanal activity observed too


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Eastern Target – Gold on the Road and in the River

• Strong wide IP anomaly

• Grab samples of oxide ore collected on road crossing the Eastern Target assay at up to 4.8g/t

• Intense artisanal activity around Kuwait including thousands of artisanal pits

• Multiple high grade grab samples in river valley assay up to 69g/t


Intense Artisanal Activity….

14Sula Iron & Gold plc │ Corporate Presentation | April 2017

… and this is why


Wrapping it all up

• The right geology – plenty of gold in the system

• The right management team

• Attractive valuation

• Strong capital markets support

• Supportive government and local community


Disclaimer

These presentation materials (the “Presentation Materials”) are being distributed in the UK only to persons having professional experience in matters relating to investments and who are investment professionals as

specified in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”), or high net worth companies, unincorporated associations etc. as specified in

Article 49(2) of the Financial Promotion Order, and in each case who are qualified investors within the meaning of section 86(1)(a) of the Financial Services and Markets Act 2000, or to other persons who may lawfully

receive the Presentation Materials. Any investment to which this document relates is available to (and any investment activity to which it relates will be engaged with) only those persons described above. Persons who do

not fall within this category of investor should not take any action upon this document, but should return it immediately to Sula Iron & Gold plc, 3-7 Temple Avenue, 201 Temple Chambers, London EC4Y 0DT. It is a

condition of your receiving this document that you fall within, and you warrant to Sula Iron & Gold plc (“Sula” or “the Company”) that you fall within, the category of person described above. The Presentation Materials

do not constitute or form any part of any offer or invitation to sell or issue or purchase or subscribe for any shares in the Company nor shall they or any part of them, or the fact of their distribution, form the basis of, or

be relied on in connection with, any contract with the Company relating to any securities. The Presentation Materials are not intended to be distributed or passed on, directly or indirectly, or to any other class of persons.

They are being supplied to you solely for your information and may not be reproduced, forwarded to any other person or published, in whole or in part, for any other purpose. The Presentation Materials do not purport

to contain all information that a prospective investor may require and are subject to updating, revision and amendment. In furnishing the Presentation Materials, the Company does not undertake or agree to any

obligation to provide access to any additional information or to update such Presentation Materials or to correct any inaccuracies in, or omissions from, the Presentation Materials which may become apparent. The

information and opinions contained in the Presentation Materials are provided as at the date of the presentation and are subject to change without notice. No reliance may be placed for any purpose whatsoever on the

information contained in this document or on its completeness. Any reliance on this communication could potentially expose you to a significant risk of losing all of the property invested by you or the incurring by you of

additional liability. No representation or warranty, express or implied, is given by the Company, its Directors or employees, or their professional advisers as to the accuracy, fairness, sufficiency or completeness of the

information, opinions or beliefs contained in this document. Save in the case of fraud, no liability is accepted for any loss, cost or damage suffered or incurred as a result of the reliance on such information, opinions or

beliefs. The Presentation Materials have been prepared by and are the sole responsibility of the Directors and the Company. If you are in any doubt about the investment to which these Presentation Materials relate, you

should consult a person authorised by the Financial Conduct Authority who specialises in advising on securities of the kind described in this document. The Presentation Materials are confidential and are being supplied to

you for your own information. They may not (directly or indirectly) be reproduced, further distributed to any person or published, in whole or in part, for any purpose whatsoever. Neither this document, nor any copy of

it, may be taken or transmitted into the United States, Canada, Australia, Ireland, South Africa or Japan or into any jurisdiction where it would be unlawful to do so. Any failure to comply with this restriction may

constitute a violation of relevant local securities laws

None of the Directors or Strand Hanson Limited (“Strand Hanson”) acting as nominated adviser to the Company or VSA Capital Ltd (“VSA”) acting as broker to the Company nor any of their directors, officers, employees,

agents, affiliates or representatives or advisers or any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information or opinions contained in this

document. Nothing contained herein should be relied upon as a promise or representation as to the future. None of the Company, Strand Hanson or VSA nor their respective members, directors, officers, employees,

agents, affiliates or representatives or advisers nor any other person accepts any obligation or responsibility to advise any person of changes in the information set forth herein after the date hereof. Further, neither

Strand Hanson or VSA has authorised the contents of, or any part of, this document. To the fullest extent permitted by law, none of the Company, Strand Hanson or VSA (nor their respective members, directors, officers,

employees, agents or representatives) nor any other person accepts any liability whatsoever for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred

howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with the subject matter of this document or any transaction.


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