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 Tue Jun 30, 2009
Sultan Minerals Completes Brokered Private Placement

 June 30, 2009, Vancouver, BC - Sultan Minerals Inc. (SUL -- TSX Venture) ("Sultan" or the "Company") is pleased to announce that it has completed its previously announced brokered private placement, through Northern Securities Inc. ("Northern" or the "Agent"), of 20,000,000 units (the "Units") at a price of $0.03 per Unit, for gross proceeds of $600,000 (the "Offering").

Each Unit is comprised of one (1) common share (the "Common Share") in the capital of Sultan and two-thirds (2/3) of one non-transferable share purchase warrant (the "Warrant"). Each whole Warrant is exercisable into one Common Share for a period of 60 months from the date of issue at an exercise price of $0.06 per share until June 30, 2010, and $0.12 per share thereafter until June 30, 2014, unless the expiry date is accelerated in accordance with the terms of the Warrants.

At closing of the Offering Northern received a Work Fee of 2% and a Commission of 10% of the gross proceeds of the Offering in connection with the Units sold by the Agent. One-half of each of the Work Fee and the Commission was payable in Units. The remaining portion of the Work Fee and the Commission was payable in cash or Units or any combination thereof at the discretion of the Agent. The Agent elected to receive $17,647.20 plus 910,160 Units as their Commission, and $4,495.20 and 149,840 Units as their Work Fee.

In addition, the Company issued to the Agent, at the closing of the Offering, 2,247,600 Agent's Options equal to 15% of the number of Units sold by the Agent pursuant to the Offering. Each Agent's Option is exercisable into one Agent's Unit at an issue price of $0.05 per Agent's Unit at any time prior to June 30, 2014. Each Agent's Unit has the same remaining terms as the Units issued pursuant to this Offering, including the accelerated expiry. Subscriptions received from insiders, employees or affiliates of the Company were not subject to Work Fees or Commissions.

All Units, Common Shares, Warrants, Agent's Options and any shares and/or warrants issuable upon the exercise thereof are subject to a hold period and may not be traded before October 31, 2009. Net proceeds from the Offering will be used for general working capital.

For further information on Sultan's projects, visit

Arthur G. Troup,
President and CEO

For further information, please contact:

Marc Lee, Investor & Corporate Communications
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email: or

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.

You can view the Next News Releases item: Thu Aug 20, 2009, Sultan Minerals Intercepts 28 feet of 0.18% WO3 and Resumes Drilling on Its Jersey-Emerald Property, B.C.

You can view the Previous News Releases item: Tue Jun 23, 2009, Sultan Minerals Resumes Drilling on Its Tungsten-Molybdenum Property

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