Sultan Minerals Inc.
TSX VENTURE : SUL

Sultan Minerals Inc.

October 26, 2005 09:30 ET

Sultan Minerals Finds More Molybdenum at Jersey-Emerald

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2005) - Sultan Minerals Inc. (TSX VENTURE:SUL) is pleased to announce that it has received assays for holes 7 through 12 (JM05-07 thru JM05-12) of its underground drilling program on its Jersey-Emerald Molybdenum Property, in the Salmo area of British Columbia. The six underground holes, which were step-outs from previously announced holes 1 thru 6, intersected numerous high-grade veins of molybdenum. High-grade veins intersected in these six holes included 0.32% MoS2 over 6.0 feet in hole 8 (JM05-08), 0.54% MoS2 over 3.0 feet and 0.45% MoS2 over 4.0 feet in hole 9 (JM05-09), 1.01% MoS2 over 3.0 feet in hole 10 (JM05-10), 0.83% MoS2 over 3.0 feet and 0.55% MoS2 over 5.0 feet in hole 11 (JM05-11), and 0.39% MoS2 over 3.0 feet and 0.37% MoS2 over 3.0 feet in hole 12 (JM05-12).

Highlights of the previous 6 holes were hole 4 which assayed 0.22% MoS2 over its entire 192 foot length, and hole 3 which averaged 0.11% MoS2 over 495 feet (please refer to News Releases of August 2, October 3 and October 13, 2005).

The 12 drill holes completed to date test a 1,000-foot (300-metre) long zone of molybdenum exposures seen underground in the East Dodger section of the historic Jersey-Emerald Tungsten Mine. Molybdenum mineralization was intersected in all 12 drill holes and is comprised of a network of high-grade molybdenite bearing quartz veins hosted within a granite intrusive body. The grade of the mineralization is variable over the 1,000-foot long zone and is highest in areas where there are a greater number of veins.



Significant intersections from the 12 drill holes completed to date
are tabled below.

---------------------------------------------------------------------
Length From To Width
Drill Grid Grid Azmth/ --------------------------- Mo MoS2
Hole# North East Dip. (Feet) % %
---------------------------------------------------------------------
JM05-12 6815 8742 045/ 537.00 194.00 357.00 163.00 0.024 0.04
-45
---------------------------------------------------------------------
Including 184.00 208.50 24.50 0.051 0.09
---------------------------------------------------------------------
Including 317.50 357.00 39.50 0.060 0.10
---------------------------------------------------------------------
Including 344.00 357.00 13.00 0.127 0.21
---------------------------------------------------------------------
Including 344.00 347.00 3.00 0.232 0.39
---------------------------------------------------------------------
Including 354.00 357.00 3.00 0.222 0.37
---------------------------------------------------------------------
and 485.00 488.00 3.00 0.130 0.22
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-11 6815 8742 045/ 408.00 00.00 413.00 413.00 0.019 0.03
-30
---------------------------------------------------------------------
Including 114.00 169.70 55.70 0.045 0.08
---------------------------------------------------------------------
Including 151.00 154.00 3.00 0.497 0.83
---------------------------------------------------------------------
Including 216.00 335.00 119.00 0.034 0.06
---------------------------------------------------------------------
Including 305.00 335.00 30.00 0.106 0.18
---------------------------------------------------------------------
and 320.00 323.00 3.00 0.395 0.66
---------------------------------------------------------------------
and 330.00 335.00 5.00 0.328 0.55
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-10 7332 8806 225/ 186.00 10.00 133.00 123.00 0.038 0.06
0
---------------------------------------------------------------------
Including 10.00 78.00 68.00 0.057 0.10
---------------------------------------------------------------------
Including 10.00 13.00 3.00 0.194 0.32
---------------------------------------------------------------------
and 32.50 35.50 3.00 0.605 1.01
---------------------------------------------------------------------
and 75.00 78.00 3.00 0.258 0.43
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-09 7350 8823 045/ 476.00 37.50 377.00 339.5 0.016 0.03
-35
---------------------------------------------------------------------
and 37.50 41.00 3.50 0.280 0.47
---------------------------------------------------------------------
and 163.00 167.00 4.00 0.270 0.45
---------------------------------------------------------------------
and 262.00 265.00 3.00 0.325 0.54
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-08 7350 8823 045/ 395.00 0.00 149.00 149.00 0.019 0.03
-20
---------------------------------------------------------------------
and 35.00 41.00 6.00 0.187 0.31
---------------------------------------------------------------------
and 55.50 59.00 3.50 0.054 0.09
---------------------------------------------------------------------
and 94.00 98.00 4.00 0.069 0.12
---------------------------------------------------------------------
and 273.00 277.00 4.00 0.055 0.09
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-07 7126 87938 045/ 414.00 79.00 146.50 67.50 0.012 0.02
-20
---------------------------------------------------------------------
Including 79.00 84.50 5.50 0.048 0.08
---------------------------------------------------------------------
and 143.50 146.50 3.00 0.059 0.10
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-06 6992 8778 045/ 325.00 2.00 115.00 113.00 0.050 0.08
+05
---------------------------------------------------------------------
Including 22.00 40.00 18.00 0.184 0.31
---------------------------------------------------------------------
Including 22.00 26.00 4.00 0.617 1.03
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-05 6992 8778 045/ 438.00 0.00 438.00 438.00 0.028 0.05
-20
---------------------------------------------------------------------
Including 29.00 166.00 137.00 0.076 0.13
---------------------------------------------------------------------
Including 80.00 146.50 66.50 0.108 0.18
---------------------------------------------------------------------
Including 80.00 98.00 18.00 0.254 0.42
---------------------------------------------------------------------
and 143.50 146.50 3.00 0.558 0.93
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-04 6979 8777 067/ 270.00 65.00 152.00 87.00 0.034 0.06
+05
---------------------------------------------------------------------
Including 65.00 103.50 38.50 0.055 0.09
---------------------------------------------------------------------
Including 97.00 103.50 6.50 0.218 0.36
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-03 6976 8777 067/ 600.00 0.00 495.00 495.00 0.068 0.11
-25
---------------------------------------------------------------------
Including 0.00 275.50 275.50 0.103 0.17
---------------------------------------------------------------------
Including 92.50 258.00 165.50 0.153 0.26
---------------------------------------------------------------------
Including 200.00 215.00 15.00 0.777 1.30
---------------------------------------------------------------------
Including 200.00 202.50 2.50 1.558 2.58
---------------------------------------------------------------------
and 145.50 163.50 18.00 0.194 0.32
---------------------------------------------------------------------
and 534.00 537.00 3.00 0.045 0.08
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-02 6977 8781 067/ 196.00 4.00 196.00 192.00 0.13 0.22
-37
---------------------------------------------------------------------
Including 48.00 64.20 16.20 0.28 0.47
---------------------------------------------------------------------
Including 48.00 52.25 4.25 0.97 1.62
---------------------------------------------------------------------
and 79.60 102.70 23.10 0.22 0.37
---------------------------------------------------------------------

---------------------------------------------------------------------
JM05-01 6603 8711 070/ 498.00 4.00 5.20 1.20 0.07 0.12
-35
---------------------------------------------------------------------
and 138.70 142.00 3.30 0.27 0.45
---------------------------------------------------------------------
and 342.50 461.00 119.00 0.03 0.05
---------------------------------------------------------------------
Including 445.65 454.75 9.10 0.16 0.27
---------------------------------------------------------------------
Including 445.65 449.75 4.10 0.26 0.43
---------------------------------------------------------------------

Note 1: All dimensions and core lengths are recorded in feet in order
that results are compatible with the historic mine grid and
the existing 4,600 drill hole database.

Note 2: MoS2 grades are computed from the Mo assays shown in column 9.


Hole 7 was collared 135 feet north of previous holes 5 and 6. The hole was drilled along an azimuth of 045 degrees with a dip of -20 degrees. This hole was the weakest of the 12 drill holes. It intersected a resistant section of granite that hosted only two significant sections of molybdenite veining, but still carried 0.02% MoS2 over 67.50 feet.

Holes 8 and 9 were drilled 225 feet north of hole 7 along an azimuth of 045 degrees with a dip of -20 degrees and -35 degrees respectively. Both holes showed significant molybdenite veining with the highest intersection of 0.54% MoS2 over 3.0 feet seen in hole 9.

Hole 10 was a horizontal hole drilled along an azimuth of 225 degrees from the same setup as holes 8 and 9. This hole was drilled in the opposite direction to holes 8 & 9 and at 159 feet in the hole cut the margin of the favourable host granite and entered the overlying tungsten-rich skarn unit. Prior to entering the skarn, the hole cut several molybdenum rich veins averaging 0.06% % MoS2 over 126 feet including a 3-foot section that assayed 1.01% MoS2 over 3.0 feet.

Holes 11 and 12 were drilled 165 feet south of previous hole 2 along an azimuth of 045 degrees with a dip of -30 degrees and -45 degrees respectively. Both holes showed significant molybdenite veining with the highest intersection of 0.83% MoS2 over 3.0 feet seen in hole 11, which intersected 119 feet averaging 0.06% MoS2.

With molybdenite currently selling for $32.00/lb, Sultan is extremely pleased with the results of the 12 diamond drill holes received to date. The results of the 12 holes show the molybdenum-rich body to extend 1,000 feet north-south, 400 feet east-west and to a depth of 300 feet. The molybdenum mineralization appears to be bounded by the tungsten rich skarn, which lies to the east and above the favourable host granite, but remains open to the north, south, west and at depth.

The company's contractor, Advanced Drilling Ltd., of Surrey, BC, has moved a second drill on to the property for the next phase of drilling in November 2005, which is planned to include both surface and underground drilling.

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 Sultan'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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