Sultan Minerals Inc.
TSX VENTURE : SUL

Sultan Minerals Inc.

October 03, 2005 09:30 ET

Sultan Minerals Discovers 495 Feet of Molybdenum on its Jersey-Emerald Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 3, 2005) - Sultan Minerals Inc. (TSX VENTURE:SUL) is pleased to announce that that it has received final assays for hole 3 (JM05-03) of its underground drilling program on its Jersey-Emerald Molybdenum Property, in the Salmo area of British Columbia. Drilling focused on the East Dodger Zone of the Emerald Tungsten Mine where sizeable molybdenum and tungsten deposits were intersected in two initial holes completed in July (please see News Release of August 2, 2005).

Drill hole 3 was a 600-foot long hole drilled adjacent to previously announced drill hole 2, which assayed 0.22% MoS2 over its entire 192 foot length, including 5.19% MoS2 over a 3.7 foot wide intersection near the bottom of the hole. Hole 3 was drilled to the west along an azmuth of 067 degrees with a dip of -25 degrees in order to determine the total width of the mineralized intersection found in hole 2. The hole confirmed the earlier intersection and showed molybdenum mineralization to a hole depth of 537 feet. Beyond this depth, the alteration and mineralization decreased suggesting that the western margin of the deposit had been penetrated. Good mineralization was encountered to a depth of 495 feet with the hole averaging 0.11% MoS2 over this length. Higher grades were encountered over the first half of the hole where a 165.5 foot section averaged 0.26% MoS2. Within this interval several high-grade intersections were encountered with the best section averaging 1.30% MoS2 over 15.0 feet including a 2.5 foot section that carried 2.58% MoS2.



Assays for holes 1 thru 3 are tabled below.

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Drill Grid Grid Azmth/ Mo MoS2
Hole# North East Dip. Length From To Width % %
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(Feet)
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JM05-03 6976 8777 067/
-25 600 0.00 495.00 495.00 0.068 0.11
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Including 0.00 275.5 275.50 0.103 0.17
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Including 92.50 258.00 165.50 0.153 0.26
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Including 200.00 215.00 15.00 0.777 1.30
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Including 200.00 202.50 2.50 1.558 2.58
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and 145.50 163.50 18.00 0.194 0.32
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and 534.00 537.00 3.00 0.045 0.08
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JM05-02 6977 8781 067/
-37 196 4.00 196.00 192.00 0.13 0.22
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Including 48.00 64.20 16.20 0.28 0.47
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Including 48.00 52.25 4.25 0.97 1.62
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and 79.60 102.70 23.10 0.22 0.37
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Including 79.60 84.10 4.50 0.79 1.32
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Including 98.45 102.70 4.25 0.30 0.50
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and 176.00 189.70 13.70 1.03 1.72
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Including 186.00 189.70 3.70 3.11 5.19
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JM05-01 6603 8711 070/
-35 498 4.00 5.20 1.20 0.07 0.12
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and 138.70 142.00 3.30 0.27 0.45
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and 303.50 307.00 3.50 0.01 0.02
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and 342.50 394.50 52.00 0.02 0.03
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Including 342.50 344.30 1.80 0.05 0.08
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Including 350.60 362.50 11.90 0.02 0.03
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Including 373.00 379.90 6.90 0.04 0.07
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Including 378.20 379.90 1.70 0.01 0.02
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Including 390.50 394.50 4.00 0.03 0.05
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and 398.00 461.00 63.00 0.04 0.07
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Including 445.65 454.75 9.10 0.16 0.27
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Including 445.65 449.75 4.10 0.26 0.43
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During the current drill program 3,900 feet (1,200 metres) of diamond drilling was completed in 10 holes. The 12 holes completed to date have tested a 1,000 foot long by 500 foot wide zone located along the eastern margin of a 1,000-foot by 2,000-foot (600-metre by 300-metre) area of molybdenum exposures seen in historic underground mine workings. The 10 recent holes stepped out from the high-grade molybdenum mineralization intersected in drill hole 2 and attempted to define the north, east and south margins of the deposit, establish grade trends and determine the orientation of the mineralization.

The remaining nine holes have now been logged, split and are awaiting assay. In logging the core, Sultan's geologists report that molybdenum mineralization was intersected in all 10 holes indicating potential for significant tonnage. Assays for holes 4, 5 and 6 are expected within the next 10 days and will be released as they are received.

Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines, is managing the underground exploration drill program. Perry Grunenberg, P.Geo., of P&L Geological Services of Lac Le Jeune, BC, is the Company's project supervisor and "Qualified Person" for the purpose of National Instrument 43-101, "Standards of Disclosure for Mineral Projects".

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

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

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


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

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