Sultan Minerals Completes Non-Brokered Private Placement

SULTAN MINERALS INC.

Suite 2000 – 1066 West Hastings Street Vancouver, B.C. V6E 3X2 www.sultanminerals.com

February 3, 2012 TSX Venture Exchange Symbol: SUL SEC 12g3-2(b): 82-4741 Frankfurt Stock Exchange: RZN

Sultan Minerals Completes Non-Brokered Private Placement

February 3, 2012, Vancouver, BC - Sultan Minerals Inc. (SUL – TSX Venture) (“Sultan”) is pleased to announce that it has completed its previously announced non-brokered private placement, of 4,000,000 units (the “Units”) at a price of $0.05 per Unit, for gross proceeds of $200,000 (the “Offering”).

Each Unit is comprised of one (1) common share (the “Common Share”) in the capital of Sultan and one non-transferable share purchase warrant (the “Warrant”). Each whole Warrant is exercisable into one Common Share for a period of 24 months from the date of issue at an exercise price of $0.10 per share. All Common Shares, Warrants, and any shares and/or warrants issuable upon the exercise thereof are subject to a hold period and may not be traded before June 4, 2012. Net proceeds from the Offering will be used for general working capital.

For further information on Sultan’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) 628-0519 Fax: (604) 628-0446 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.