Sultan Minerals

Vancouver, BC - June 23, 2008 - Sultan Minerals Inc. (SUL-TSX-V) ("Sultan") is pleased to report that assays have been received for five underground diamond drill holes from the ongoing exploration program at its 100% owned Jersey-Emerald Molybdenum-Tungsten Property located near Salmo, British Columbia. The drill results confirm previous assays and show a molybdenum stockwork comprised of multiple, high-grade, east-west and north-south trending, molybdenite-bearing quartz veins. The molybdenum-bearing stockwork has now been successfully intersected in 32 widely spaced diamond drill holes over an area measuring 3,200 feet north-south by 900 feet east-west and remains open in all directions.

The Jersey-Emerald Property is a polymetallic property hosting deposits of lead-zinc, tungsten and molybdenum. The three deposit types are stacked one above the other near the top of Iron Mountain. The former Jersey Mine, British Columbia's second largest lead-zinc producer forms the uppermost deposit. Deposits of tungsten mineralization that comprise the Emerald Tungsten Mine, Canada's second largest tungsten producer, occur beneath the lead-zinc deposit. Recent exploration by Sultan Minerals has discovered a potentially large porphyry molybdenum deposit beneath the tungsten workings.

The recent drill holes, JM08-01 through JM08-05, investigated the western extension of the East Dodger Molybdenum Zone where high-grade molybdenum veins were intersected in four previously reported drill holes (see News Release of July 18, 2007). The results successfully confirm the previously reported intersections and with pending results from seven additional holes will help to define the orientation and dimensions of the mineralization.

Significant molybdenum intersections for the nine holes drilled in this area are tabled below:

DRILL-HOLE NUMBER	GRID North	GRID East	AZMTH/DIP	FROM (feet)	TO (feet)	WIDTH (feet)	WO3 (%)	MoS2 (%)	Au (g/t)
JM08-01	7000	8342	340/-67	454.30	475.40	21.10		0.14
Including				454.30	460.10	5.80		0.38
and				618.00	628.00	10.00		0.58
and				718.00	728.00	10.00		0.12
JM08-02	7000	8342	340/-51	1095.00	1105.00	10.00		0.07
and				1405.00	1415.00	10.00		0.42
JM08-03	7000	8345	18/-61	788.00	998.00	210.00		0.04
Including				788.00	791.00	3.00		1.22
and				938.00	948.00	10.00			2.10
and				948.00	998.00	50.00		0.07
Including				948.00	968.00	20.00		0.12
Including				960.00	968.00	8.00		0.18	0.73
and				995.00	998.00	3.00		0.23	4.24
JM08-04	7000	8048	355/-71	818.00	820.00	2.00		0.09
JM08-05	6480	7995	346/-45	1023.10	1045.20	22.10	0.31
Including				1040.50	1045.20	4.70	0.74
JM07-04*	6124	8657	339/-19	789.00	1,338.00	548.00		0.10
Including				789.10	869.00	79.90		0.28
Including				789.10	799.00	9.90		1.81
and				1,155.00	1,198.00	43.00		0.23
Including				1,190.00	1,198.00	8.00		0.60
JM07-16*	7001	8349	006/-69	308.00	704.00	396.00		0.07
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*	7002	8351	035/-66	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*	6996	8212	002/-70	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
JM07-04*	6124	8657	339/-19	789.00	1,338.00	548.00		0.10
Including				789.10	869.00	79.90		0.28
Including				789.10	799.00	9.90		1.81
and				1,155.00	1,198.00	43.00		0.23
Including				1,190.00	1,198.00	8.00		0.60
JM07-16*	7001	8349	006/-69	308.00	704.00	396.00		0.07
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*	7002	8351	035/-66	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*	6996	8212	002/-70	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 1: All dimensions and core lengths are recorded in feet in order that results are compatible with the historic mine grid and the existing five databases of 5,600 drill holes. Convert feet to metres by multiplying by 0.304.
Note 2: Drill hole intersection angles vary from 30° to 85° suggesting that the true width of these intersections may range from 50% to 95% of the drill core intersection length.
Note 3: * Indicates previously reported drill hole.

Drill holes JM08-01, JM08-02 and JM08-03 were drilled from an underground haulage tunnel situated beneath the Jersey Lead-Zinc Deposit. The holes were collared 500 feet west of the East Dodger Molybdenum Zone where molybdenum mineralization was previously intersected in 21 diamond drill holes over an area measuring 3,200 feet north-south by 400 feet east-west (see News Release of February 22, 2006). The three holes were drilled from a single collar and investigated the lateral and depth continuity of the mineralization. All three holes encountered molybdenum mineralization comprised of a series of high-grade molybdenum bearing quartz-veins. Drill hole JM08-03 also showed encouraging gold assays with several of the quartz-veins. Gold assays included 2.10 g/t gold across 10.0 feet and 4.23 g/t gold across 3.0 feet.

Drill hole JM08-04 collared 300 feet west of JM08-01 intersected only a single 2.0 foot wide molybdenum bearing vein. The hole was drilled at a steep angle to test the depth continuity of the mineralization and is believed to have passed below or to the west of the molybdenum zone.

Drill hole JM08-05 was collared 600 feet southwest of JM08-04. This was the most westerly hole drilled. The hole did not encounter the molybdenum zone but surprisingly intersected 0.31% tungsten (WO3) across a 22.1 foot drill core width at a hole depth of 1,023.1 feet. The intersection included a 4.70 foot section that carried 0.74% WO3. The intersection is believed to represent the down dip extension of the East Emerald Tungsten Zone.

Several holes also carried important concentrations of lead or zinc mineralization. The intersections suggest the possible presence of additional zinc horizons below the level of the historic Jersey Zinc Mine. Significant lead and zinc intersections obtained from these holes are given in the following table:

DRILL-HOLE NUMBER	GRID North	GRID East	AZMTH/DIP	FROM (feet)	TO (feet)	WIDTH (feet)	WO3 (%)	MoS2 (%)	Au (g/t)
JM08-01	7000	8342	340/-67	0.00	6.90	6.90	4.18	-	1.10
and				90.45	94.60	4.15	2.86	1.79	37.20
JM08-02	7000	8342	340/-51	0.00	8.00	8.00	6.60	-	1.20
and				77.00	81.40	4.40	0.49	0.32	12.60
JM08-03	7000	8345	18/-61	10.10	13.30	3.20	5.50	0.03	1. 40
JM07-16*	7001	8349	006/-69	0.00	6.00	6.00	3.15	0.03
and				86.25	107.17	20.92	1.36	2.59
JM07-17*	7002	8351	035/-66	0.00	4.00	4.00	8.16	0.01

Mr. Arthur G. Troup, President and CEO, commented, "We are very pleased with the results of this recent program. The recent drill results confirm the previously reported molybdenum intersection and show a series of high-grade molybdenum rich quartz veins that comprise an extensive molybdenum stockwork. Higher molybdenum grades occur where there is an increase in vein density within the broad, stockwork. The molybdenum-bearing stockwork is hosted within a granite intrusive body beneath the historic tungsten workings and remains open in virtually every direction."

Assays are pending for a further seven underground drill holes recently completed on the East Dodger Molybdenum Zone. Diamond drilling is presently under way on the East Emerald Tungsten Zone but will resume on the Molybdenum Zone when results of the recent program have been assessed.

Mr. Ed Lawrence, P.Eng, former Manager of the Jersey and Emerald Mines under Placer-Dome, oversees all on-going diamond drilling programs for Sultan. Mr. Perry Grunenberg, P.Geo., of PBG Geoscience from Kamloops, BC, is Sultan's project supervisor and "Qualified Person" as defined by NI 43-101, "Standards of Disclosure for Mineral Projects".

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