Sultan Minerals Acquires Mineral Claims Near Gibraltar Porphyry Copper Mine
SULTAN MINERALS INC.
Suite 1400 – 570 Granville Street Vancouver, B.C. V6C 3P1 www.sultanminerals.com
May 13, 2010 TSX Venture Exchange Symbol: SUL SEC 12g3-2(b): 82-4741 Frankfurt Stock Exchange: RZN
SULTAN MINERALS ACQUIRES MINERAL CLAIMS NEAR GIBRALTAR PORPHYRY COPPER MINE
May 13, 2010, Vancouver, BC - Sultan Minerals Inc. (SUL–TSX Venture) (“Sultan”) is pleased to announce that it has staked 570 hectares of mineral tenures adjacent to the Gibraltar Porphyry Copper-Molybdenum Mine in south central British Columbia, Canada.
The road accessible property is located just 1,500 metres west of the Gibraltar Copper- Molybdenum Mine approximately 40 kilometres north of the community of Williams Lake BC. The Gibraltar mine is the second largest porphyry copper mine in BC. Production commenced in 1972 and to date it has been reported that 350 million tonnes of ore have been mined and milled giving 2.1 billion pounds of copper and 22.0 million pounds of molybdenum. Proven and probable reserves are currently 470 million tons grading 0.315% copper and 0.008% molybdenum.
Sultan’s adjacent property overlies the west margin of the Granite Mountain pluton, which is host to the Gibraltar orebodies. The property has had little previous exploration. The claims were acquired as part of Sultan’s ongoing program of acquiring underexplored properties in proven mining camps.
Sultan has contracted Peter E. Walcott & Associates to review the property and make recommendations for a geophysical survey that will investigate the property’s potential for porphyry copper-molybdenum mineralization.
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400 Email: [email protected] or [email protected]
This release was prepared by Sultan's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Sultan expects are forward-looking statements. Although Sultan believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward- looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Sultan, investors should review Sultan's filings that are available at www.sedar.com or Sultan's website at www.sultanminerals.com.