Thursday, November 12, 2009
TSX Venture Exchange Symbol: SUL
SEC 12g3-2(b): 82-4741
Frankfurt Stock Exchange: RZN
Sultan Minerals Receives Exchange Approval to Acquire Historic HB Lead-Zinc Mine - Commences Property Work
November 12, 2009, Vancouver, BC - Sultan Minerals Inc. (SUL -- TSX Venture) ("Sultan") is pleased to announce that the TSX Venture Exchange has accepted for filing documentation of an option agreement dated October 20, 2009, between Sultan and Mr. Craig Alvin Lynes (the "Optionor") of Salmon Arm, British Columbia. Under the terms of the option agreement, Sultan may acquire 100% of the rights and interest in and to the HB Lead-Zinc Property (the "Property"), comprised of a 100-hectare mineral claim, located approximately eight kilometres southeast of Salmo, British Columbia, Canada.
Sultan may earn a 100% interest in the Property by making cash payments of $15,000 and issuing 100,000 common shares to the Optionor in stages over twelve months. For further details please refer to Sultan's news release dated October 27, 2009.
A large database of historical mine records for the HB Mine, including mine plans, mine sections, drill logs and geological maps has since been acquired. Mr. Ed Lawrence, P.Eng., former Manager of Sultan's adjacent Jersey and Emerald Mines, is presently undertaking a review of the historical mine records in order to locate the remaining mineralization and identify exploration targets for future follow up.
Sultan is presently completing a program of geochemical sampling and a magnetometer geophysical survey on the HB property to explore for extensions to the historical lead-zinc mineralization. The two surveys will also explore the adjoining, recently acquired, Garnet Mine (please refer to Sultan's News Release of November 4, 2009).
Mr. Perry Grunenberg, P.Geo., of PBG Geoscience of Kamloops, B.C., will supervise the geochemical and geophysical programs. Mr. Grunenberg is Sultan's project supervisor and "Qualified Person" for the purpose of NI 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
