Sultan Minerals Inc.
TSX VENTURE : SUL

Sultan Minerals Inc.

June 05, 2006 16:00 ET

Sultan Minerals Confirms Tungsten Grades at Jersey-Emerald

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 5, 2006) - Sultan Minerals Inc. (TSX VENTURE:SUL) is pleased to announce results from the latest round of successful diamond drilling on its Jersey-Emerald property in BC, Canada. Drilling focused on the recently rediscovered East Emerald Tungsten Zone. This tungsten-bearing horizon has been shown by historical drilling and surface sampling to be more than 3,500 feet (1,100 metres) long and to extend up to 1,000 feet (300 metres) down dip. Drill logs show that the zone ranges from 4.0 feet (1.2 metres) to more than 60.0 feet (20.0 metres) in thickness with tungsten assays varying from less than 0.10% WO3 to greater than 0.28% WO3 (see News Releases of March 6 and May 10, 2006). The zone remains open to the south.

In order to validate the previously reported tungsten assays, Sultan completed a four-hole diamond drill program that investigated a 500-foot long section of the East Emerald Tungsten Zone. All four holes intersected the tungsten-bearing horizon and returned tungsten assays comparable in grade and width to those reported for the same area in the historic diamond drilling records (see News Release of March 6, 2006). The Company believes these favourable results confirm the existence, width and grade of the East Emerald Tungsten Zone reported in the 1942 War Time Metals records.

The drill results show a tungsten-bearing zone that varies from 25 to 50 feet in thickness and dips to the East at approximately 40 degrees. The best tungsten intersections from the recent drill program were 0.35% WO3 over 5.0 feet in drill hole E-06-02, 0.24% WO3 over 5.0 feet in drill hole E-06-02, and 0.29% WO3 over 5.0 feet in drill hole E-06-03. Elevated molybdenum values occur with the tungsten mineralization in all four holes. The results show an average grade of 0.03% MoS2 for the four intersections with the best 5.0 foot intersection averaging 0.40% MoS2. The presence of molybdenum throughout the tungsten deposit suggests that important molybdenum mineralization may exist in the underlying granite that lies beneath the tungsten horizon, approximately 1,000 feet down dip to the east.



Assays for the four drill holes are tabled below.

---------------------------------------------------------------------
Len-
gth From To Width
Drill Grid Grid Azmuth/ --------------------------
Hole # North East Dip (Feet) WO3% MoS2%
---------------------------------------------------------------------
E-06-01 8435 7365 075 403 53.00 77.00 24.00 0.11 0.03
degrees/
-60
degrees
---------------------------------------------------------------------
Including 61.00 69.00 8.00 0.14 0.02
---------------------------------------------------------------------

---------------------------------------------------------------------
E-06-02 8190 7305 050 533 63.00 110.00 47.00 0.15 0.05
degrees/
-65
degrees
---------------------------------------------------------------------
Including 63.00 73.00 10.00 0.19 0.01
---------------------------------------------------------------------
Including 73.00 78.00 5.00 0.10 0.40
---------------------------------------------------------------------
Including 78.00 93.00 15.00 0.16 0.01
---------------------------------------------------------------------
Including 98.00 103.00 5.00 0.24 0.01
---------------------------------------------------------------------
and 335.00 340.00 5.00 0.35
---------------------------------------------------------------------

---------------------------------------------------------------------
E-06-03 8190 7305 230 293 37.50 92.00 54.50 0.15 0.02
degrees/
-65
degrees
---------------------------------------------------------------------
Including 48.00 53.00 5.00 0.21 0.04
---------------------------------------------------------------------
Including 73.00 78.00 5.00 0.29 0.01
---------------------------------------------------------------------
and 156.50 168.00 11.50 0.10 0.02
---------------------------------------------------------------------
Including 163.00 168.00 5.00 0.14 0.02
---------------------------------------------------------------------

---------------------------------------------------------------------
E-06-04 8645 7460 285 183 38.00 63.00 25.00 0.07 0.03
degrees/
-80
degrees
---------------------------------------------------------------------
Including 43.00 53.00 10.00 0.08 0.07
---------------------------------------------------------------------
Including 58.00 63.00 5.00 0.11
---------------------------------------------------------------------


The East Emerald Tungsten Zone occurs approximately 200 to 500 feet stratigraphically above the Invincible Tungsten Deposit, which historic mine records show averaged 0.65% WO3. The above intersections are all near surface, suggesting that a significant percentage of the mineralization may be amenable to open pit mining. The mineralization lies directly above the Invincible decline, which is a large haulage tunnel designed to handle 40 ton trucks. This raises the possibility that the mineralization may be readily accessible to low-cost underground mining as well as surface mining operations.

The potential of the deposit is enhanced by the excellent infrastructure in the area, an existing network of underground tunnels and workings that provide ready access to the tungsten mineralization, and by the price of tungsten, which has increased from US$50 per metric tonne unit (MTU) in 2002 to the current price of US$255.00 per MTU (approximately $25.50 per kilogram of WO3). The deposits occur near the top of a hill and in the past have been mined by relatively inexpensive bulk mining methods, with the ore removed through tunnels that extend in from the hillside.

A three-dimensional computer model of the historical mine workings has been constructed from the hundreds of mine plans and sections, and from the logs of over 5,000 diamond drill holes completed during the mining operations. Assay results from the recent diamond drill holes and from an additional 80 diamond drill holes that were drilled by Placer Dome and Wartime Metals in the Invincible Mine area are presently being entered into the mine model. Permits are now in place for additional surface and underground drilling that will be directed by results of a resource study that is currently underway on the historic and recent drill results.

The 9,500 hectare Jersey-Emerald property is located in southeastern British Columbia close to the mining community of Salmo. The Emerald Mine was Canada's second largest tungsten mine and the adjoining Jersey Mine was the largest zinc producer in the Kootenay Arc area of British Columbia. The Emerald mine was put into production in 1943 by a Crown Corporation, Wartime Metals Corp., in order to provide tungsten for World War Two. In 1947, the mine was sold to Canadian Exploration Ltd. (a subsidiary of Placer Dome) and was Placer Dome's first underground mining operation. Placer Dome mined the property alternately for tungsten and lead-zinc until 1973 when it closed due to low metal prices. When the mine closed, Placer's records reported six unmined tungsten targets in the vicinity of the historic mine workings. The targets occur as broad linear bands that extend for more than 5,000 feet (1,500 metres) to the north and to the south of the former tungsten workings. Most of these zones are accessible from the existing mine workings and are therefore important drill targets for future exploration.

Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines, is managing the exploration drill program. Perry Grunenberg, P.Geo., of P&L Geological Services of Lac Le Jeune, BC, is Sultan's project supervisor and "Qualified Person" for the purpose of National Instrument 43-101, "Standards of Disclosure for Mineral Projects". Standard sampling procedures were used whereby the core was split with half of the core sent by trucking company directly to Acme Labs Ltd in Vancouver for assay. The remaining half of the core is stored in the Company's core storage facility in Salmo, BC. All sample preparation was done at the laboratory by Acme staff. Checks are being run on 20% of the samples at Becqueral Laboratories in Mississauga, Ontario and Assayers Canada in Vancouver, BC.

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

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

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

To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/SUL0605.pdf

No regulatory authority has approved or disapproved the information contained in this news release.

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