Sultan Minerals Inc.
TSX VENTURE : SUL
FRANKFURT : RZN

Sultan Minerals Inc.

July 18, 2007 11:03 ET

Sultan Minerals Confirms High-Grade Molybdenum and Discovers New Lead & Zinc Zone at Jersey-Emerald Property, B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2007) - Sultan Minerals Inc. (TSX VENTURE:SUL)(FRANKFURT:RZN) ("Sultan") is pleased to report that assays have been received for an additional 13 underground diamond drill holes, relating to the spring drilling program of 20,000 feet, from the ongoing exploration program at its 100% owned Jersey-Emerald Molybdenum-Tungsten Property located near Salmo, B.C. The drill results confirm the high-grade molybdenum intersection reported in the news release of June 6, 2007, and show an important new discovery of lead and zinc mineralization in the footwall of the historic mine.

Three of the 13 new widespread holes, JM07-16, JM07-17 and JM07-18 were drilled to investigate the vertical thickness and lateral continuity of the molybdenum zone intersected in drill-Hole JM07-04, which assayed 0.10% molybdenum sulfide (MoS2) over a core length of 548.0 feet. All three holes successfully intersected the molybdenum zone confirming exceptional grade, excellent thickness and good lateral continuity. Drill-Hole JM07-17 was the highlight of the three holes giving an impressive intersection of 0.21% molybdenum sulphide (MoS2) over a core length of 160.0 feet. The intersection included a 60.00 foot section that assayed 0.41% MoS2, including a very high-grade section that carried 0.85% MoS2 over 10.0 feet.

Mr. Arthur G. Troup, President and CEO, commented, "We are extremely pleased with the high-grade intersections obtained from this drill program and particularly the east-west continuity of these zones. With each successive drill program that Sultan has completed on the Jersey-Emerald property, we have continued to expand and confirm the large size potential of this deposit."

Drilling has now been completed in 19 holes out of a planned program of 50 holes for 2007. Sultan's summer drill program, for an additional 20,000 feet of drilling will focus on expanding the known molybdenum deposit as well as the tungsten and lead-zinc. The Company will commence drilling by the end of July.

Significant intersections from the three molybdenum drill holes are given in the following table:



------------------------------------------------
DRILL-HOLE FROM TO WIDTH MOS2
NUMBER (feet) (feet) (feet) (%)
------------------------------------------------
JM07-16 308.00 704.00 396.00 0.07
------------------------------------------------
Including 379.00 384.00 5.00 0.13
------------------------------------------------
and 454.00 464.00 10.00 0.17
------------------------------------------------
and 594.00 684.00 90.00 0.18
------------------------------------------------
Including 624.00 634.00 10.00 0.34
------------------------------------------------

------------------------------------------------
JM07-17 463.00 623.00 160.00 0.21
------------------------------------------------
Including 553.00 613.00 60.00 0.41
------------------------------------------------
Including 603.00 613.00 10.00 0.85
------------------------------------------------

------------------------------------------------
JM07-18 413.00 724.00 311.00 0.12
------------------------------------------------
Including 484.00 504.00 20.00 0.71
------------------------------------------------
and 574.00 584.00 10.00 0.66
------------------------------------------------
Note: All dimensions and core lengths are
recorded in feet in order that results are
compatible with the historic mine grid and
the existing 5,600 drill hole database.


The three holes were vertical holes drilled from the overlying Jersey Lead-Zinc Mine workings to intersect the molybdenum zone at approximately 150-foot east-west intervals. The holes demonstrate excellent grade and lateral continuity to a zone that remains open in all directions.

The East Dodger molybdenum zone has now been tested with 30 drill holes over an area measuring 3,400 feet north south by 900 feet east west. Molybdenum mineralization has been intersected in 28 of these holes showing a number of high-grade molybdenum veins and stockwork zones that comprise broad zones of bulk-tonnage-grade mineralization. The bulk tonnage-intersections obtained to date are summarized below.



DODGER MOLYBDENUM ZONE BULK-TONNAGE INTERSECTIONS
------------------------------------------------
DRILL-HOLE FROM TO WIDTH MOS2
NUMBER (feet) (feet) (feet) (%)
------------------------------------------------
JM05-01(i) 398.00 461.00 63.00 0.07
------------------------------------------------
JM05-02(i) 4.00 196.00 192.00 0.21
------------------------------------------------
JM05-03(i) 0.00 495.00 495.00 0.11
------------------------------------------------
JM05-05(i) 29.00 166.00 137.00 0.13
------------------------------------------------
JM05-13(i) 0.00 217.00 217.00 0.12
------------------------------------------------
JM05-14(i) 0.00 234.00 234.00 0.12
------------------------------------------------
JM05-15(i) 0.00 248.00 248.00 0.07
------------------------------------------------
JM05-16(i) 0.00 215.00 215.00 0.10
------------------------------------------------
DS05-01(i) 350.00 455.00 105.00 0.10
------------------------------------------------
JM07-04(i) 789.10 1,338.00 548.90 0.10
------------------------------------------------
JM07-16 308.00 704.00 396.00 0.07
------------------------------------------------
JM07-17 463.00 623.00 160.00 0.21
------------------------------------------------
JM07-18 413.00 724.00 311.00 0.12
------------------------------------------------
(i) Previously reported assay.


Several important new zones of lead and zinc mineralization were also intersected in six of the recent drill holes. Significant lead-zinc intersections obtained from these holes are given in the following table:



NEW LEAD ZINC DISCOVERY
------------------------------------------------------
DRILL-HOLE FROM TO WIDTH Pb Zn
NUMBER (feet) (feet) (feet) (%) (%)
------------------------------------------------------
JM07-11 200.50 207.67 7.17 5.88 3.13
------------------------------------------------------
Including 200.50 204.83 4.33 9.33 4.63
------------------------------------------------------
and 349.00 352.17 3.17 2.00 2.43
------------------------------------------------------
JM07-12 190.00 195.00 5.00 0.90 1.14
------------------------------------------------------
JM07-13 145.00 148.75 3.75 0.24 0.87
------------------------------------------------------
JM07-16 0.00 109.67 109.67 0.27 0.71
------------------------------------------------------
Including 0.00 6.00 6.00 0.03 3.15
------------------------------------------------------
and 86.25 107.17 20.92 1.36 2.59
------------------------------------------------------
Including 86.25 90.25 4.00 6.34 11.65
------------------------------------------------------
JM07-17 0.00 26.00 26.00 0.01 1.45
------------------------------------------------------
Including 0.00 4.00 4.00 0.01 8.16
------------------------------------------------------
JM07-19 0.00 9.33 9.33 1.31 1.53
------------------------------------------------------
Including 0.00 0.67 0.67 17.18 20.16
------------------------------------------------------
Note: Drill hole intersection angles vary from 45
degrees to 65 degrees suggesting that the true
width of these intersections may range from 60%
to 80% of the drill core intersection length.


Drill holes JM07-16 and JM07-17 intersected a zone of previously unknown lead and zinc mineralization situated in the footwall of the historic Jersey Zinc Mine workings. Hole JM07-16 carried low-grade mineralization over a core length of 109.67 feet including a four-foot zone of high-grade mineralization that assayed 11.65% zinc and 6.34% lead. Hole JM07-17 intersected a four-foot zone that assayed 8.16% zinc within a 26-foot wide zone of low-grade mineralization. These lead and zinc assays compare very favourably with historic mine grades of 3.80% zinc and 2.00% lead and confirm that important deposits of these metals exist beyond the limits of the former mine workings.

Tungsten mineralization was intersected in nine drill holes. Several intersections were below a cut off grade of 0.15% WO3 in the areas drilled. Higher grade tungsten deposits normally occur as ore shoots along favourable host horizons and consequently are more difficult to identify with this early stage drilling. Even low-grade intersections are important in that they show the location of the tungsten bearing horizons. This information will help future exploration programs to locate ore zones along these tungsten bearing horizons.

Significant tungsten intersections are given in the following table:


------------------------------------------------
DRILL-HOLE FROM TO WIDTH WO3
NUMBER (feet) (feet) (feet) (%)
------------------------------------------------
JM07-01 15.00 17.00 2.00 0.18
------------------------------------------------
JM07-04 75.35 84.60 9.25 0.10
------------------------------------------------
JM07-05 0.00 15.83 15.83 0.06
------------------------------------------------
JM07-07 15.75 17.25 1.50 0.19
------------------------------------------------
JM07-08 4.00 9.75 5.75 0.07
------------------------------------------------
JM07-11 170.00 175.58 5.58 0.07
------------------------------------------------
JM07-15 334.00 369.00 35.00 0.04
------------------------------------------------
JM07-16 50.42 52.67 2.25 0.07
------------------------------------------------
and 107.17 109.67 2.50 0.07
------------------------------------------------
JM07-17 463.00 473.00 10.00 0.03
------------------------------------------------
Note: Drill hole intersection angles vary from
45 degrees to 65 degrees suggesting that
the true width of these intersections may
range from 60% to 80% of the drill core
intersection length.


Drilling has now been completed in 19 holes out of a planned program of 50 holes for 2007. Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines, is managing the ongoing diamond drilling programs. Mr. Perry Grunenberg, P.Geo., of PBG Geoscience from Kamloops, B.C., is Sultan's project supervisor and "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects". Standard sampling procedures were used whereby the core was split with a core splitter and half of the core sent by trucking company directly to Acme Labs Ltd. in Vancouver for assay by standard analytical procedures. The remaining half of the core is stored in the Company's core storage facility in Salmo, B.C. All sample preparation was done at the laboratory by Acme staff. Checks are being run on 5% of the samples at Becqueral Laboratories in Mississauga, Ontario for tungsten and Assayers Canada in Vancouver, B.C. for other elements.

For further information on the Company's projects, visit www.sultanminerals.com.

Arthur G. Troup, P.Eng., Geological, President and CEO

This release was prepared by Sultan management and no regulatory authority has approved or disapproved the information contained herein.

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 the Company expects are forward-looking statements. Although the Company 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 the Company, investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.sultanminerals.com.

SEC 12g3-2(b): 82-4741

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