Sulliden Reports North Corridor Drill Intercept of 53.8 M Grading 0.85 g/t Gold and 71.4 g/t Silver and Continued Growth in Central Corridor With 61.5 M of 0.94 g/t Gold and 20.4 g/t Silver

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2012) - Sulliden Gold Corporation Ltd. ("Sulliden", or the "Company") (TSX:SUE)(OTCQX:SDDDF)(BVL:SUE) is pleased to announce assay results from the new North Corridor and ongoing Central Corridor drilling programs. The latest results are part of the ongoing exploration drilling being conducted on its Shahuindo property in northern Peru (See location map, Figure 1).

North Corridor

Results for ten drill holes, representing approximately 2,250 metres, have been received from the newly initiated North Corridor exploration program. The Company is encouraged by the assay results obtained since drilling commenced in August 2011, particularly from hole SHN11-328, which intersected 53.8 meters of 0.85 g/t gold and 71.4 g/t silver in oxides. Within this interval a significant intersection of 33.3 metres grading 1.27 g/t gold and 108.0 g/t silver was encountered (See Table 1).

The North Corridor is a mineralized structure located approximately two kilometres north of the main Central Corridor, which hosts the current mineral resource estimate (See Figure 1). The Company began drilling this exploration target in late August 2011, following the identification of a geochemical anomaly spanning at least two kilometres in a North-West to South-East direction.

Stéphane Amireault, Vice President of Exploration for Sulliden, commented, "The drilling program in the North Corridor is progressing well and our geological knowledge of this new target area continues to improve as we obtain drill results. This drill data, in conjunction with the geochemical anomalies, will allow us to better understand the mineralization and establish future drill targets. In this group of North Corridor results, we are particularly encouraged about the positive intercepts returned in hole SHN11-328, which support our belief in the potential for this exploration target to materialize into an eventual source of mineral resource growth."

Approximately 5,225 metres of drilling have been completed in the North Corridor since late August 2011, and exploration efforts are planned to continue in 2012.

Central Corridor

The Central Corridor currently hosts the main mineralized structure on the Shahuindo property. This continuous 3.8 kilometre mineral structure outcrops on surface and includes two adjacent parallel mineral structures named sub-corridors "A" and "B" (see Figure 2). The current mineral resource envelope in the Central Corridor (represented in red on Figure 1) remains open along strike, at depth and at width. Along with continued drilling in the Central Corridor, the Company intends to include several adjacent targets in its 2012 exploration program, including the 1,600 metre North-West Extension, identified by geochemistry, and the 800 metre South-East extension, identified by geophysics.

The Company continues to obtain positive results in the Central Corridor that are both confirming and expanding mineralization. A total of 26 drill holes representing approximately 7,590 metres are reported in Tables 2 and 3, below. Significant new drill intercepts obtained in the Central Corridor include:

• 0.94 g/t gold and 5.6 g/t silver over 55.5 metres including 2.19 g/t gold and 19.4 g/t silver over 9.0 metres from hole RSH11-202
  
  
• 0.94 g/t gold and 20.4 g/t silver over 61.5 metres and 1.57 g/t gold and 12.5 g/t silver over 31.5 metres from hole RSH11-204
  
  
• 1.45 g/t gold and 10.3 g/t silver over 18.0 metres from hole RSH11-205

The new "Sub Corridor 'B'" located within the Central Corridor has continued to returned positive results with several new holes encountering mineralization beyond the June 2011 mineral resource model. For example, drill hole RSH11-208 intersected 0.81 g/t gold over 15.0 metres, 0.76 g/t gold over 27.0 metres and 1.09 g/t gold over 9.0 metres (See collar location in Figure 1 and drill results in Table 2). The results from this sub-corridor are confirming new mineral continuity and the Company intends to further drill this target in 2012 to better understand the size and growth potential of this area.

Holes SH11-OC7 to SH11-OC11 were drilled in the Central Corridor as part of a geotechnical drill program focused on assessing the rock quality in order to determine the optimal pit slope angles for the future mining scenario. All five holes intersected gold values above the economic cut-off established in the latest engineering study and provide further indication of the Shahuindo property's mineral growth potential.

Sulphide Exploration Program - Central Corridor

Sulliden's principal focus is on the development of a low capital investment and low operating cost heap leach mining operation, which considers the predominant oxide portion of the current mineral resource. In 2011 however, the Company initiated an exploration program of deeper drill holes along the 3.8 kilometre strike length of the Central Corridor to test the presence of mineralization beneath the known oxides at an average depth of 400 metres below surface. To date, assay results have been obtained for seven drill holes from this program. Highlights include 1.47 g/t gold over 26.1 metres and 2.82 g/t gold over 12.3 metres in hole SHD11-240 (See Table 3).

Sulliden completed its 2011 drilling program in December with 358 holes totalling approximately 67,400 metres drilled since January, 2011. The Company expects to initiate the 2012 exploration activities in the coming weeks.