Sultan Minerals Inc. (SUL - TSX Venture) (the "Company") today released financial results for its fiscal 2010 third quarter ended September 30, 2010. In the third quarter during the third quarter Sultan's exploration efforts focused on the 8,173-hectare Kena Gold-Copper Project located near the community of Ymir in southeastern British Columbia. Exploration expenditures on the Kena property to September 30 totalled $330,201.

The Kena Gold-Copper property encompasses two areas of porphyry-style gold mineralization -- the Gold Mountain and Kena Gold Zones situated within an 8.0-km long gold geochemical anomaly. Sultan tested the two zones with 12,000 metres of diamond drilling in 80 drill holes in 2001-2003 and a preliminary NI 43-101 resource estimate was prepared by Giroux Consultants Ltd. in June 2004. The report shows a measured and indicated resource of 11,820,000 tonnes containing 381,000 ounces of gold at an average grade of 1.0 g/T using a 0.5 g/T cut-off grade for gold. There is an additional inferred resource of 12,150,000 tonnes containing 389,000 ounces of gold at the same grade (June 7, 2004, News Release) and the mineralization remains open along strike to the north and south indicating potential to expand the resource with additional diamond drilling.

In July 2010, Sultan completed an IP geophysical survey of the Kena Copper King Zone situated immediately south of the Kena Gold Zone. The survey defined a continuous six-kilometre long geophysical anomaly trending south from the Gold Mountain and Kena Gold Zones to the south end of the Kena Copper King Zone (see News Release dated July 20, 2010). Geophysical modeling and field geological studies suggest the anomaly is reflecting sulphide mineralization emplaced in a strong and laterally persistent deformation zone that runs north-westerly across the property (September 9, 2009, News Release).

In August 2010, GPS Field surveys were carried out to accurately locate all known showings and historic diamond drill holes over this extensive geophysical target. The surveys show that all significant showings and four historic gold mines on the property are associated with areas of strong IP geophysical response. The program also discovered that several historic diamond drill holes from previous exploration programs intersected the margins of the coincident Copper-King soil anomaly and the IP geophysical anomaly but were only partially assayed or were not assayed for copper. Sultan's geologists located, sampled and assayed approximately 800 metres of un-sampled diamond drill core remaining from the historical programs. Assays for 442 drill core samples collected from the un-sampled portions of these historic drill holes show broad widths of copper and gold mineralization in three wide-spaced drill holes confirming potential for a significant bulk tonnage copper-gold zone.

In September 2010, Sultan tested the coincident Copper-King soil anomaly and the IP geophysical anomaly with 540 metres of diamond drilling in two holes. Both holes intersected copper mineralization confirming the results of the three historic holes. The five drill holes tested an IP geophysical anomaly that is 6,000 metres long and 900 metres wide indicating potential for a sizeable zone of bulk tonnage copper-gold mineralization which is currently open for expansion in all directions.
The table below gives the significant copper and gold intersections obtained from the two recent and three historic drill holes in the Kena Copper King Zone. The northern most hole KK81-4 and southern most hole K90-4 are located 1,262 metres apart along the recently identified northwest trending IP geophysical chargeability anomaly. Drill holes TK87-42 and10CK-02 bottomed in copper equivalent grades of 0.359% and 0.427% indicating that the mineralized zone remains open to depth.

HOLE #	FROM (m)	TO (m)	WIDTH (m)	COPPER (%)	GOLD (g/t)	Cu Eq %*
KK81-4	0.00	117.00	117.00	0.22	0.137	0.294
including	0.00	33.00	33.00	0.33	0.204	0.440
TK87-42	80.17	168.86	88.69	0.21	0.128	0.279
including	91.09	100.50	9.41	0.29	0.166	0.280
and	128.50	133.58	5.09	0.37	0.226	0.492
and	163.50	168.86	5.36	0.28	0.147	0.359
K90-4	3.35	391.95	388.60	0.12	0.111	0.180
including	30.00	40.50	10.50	0.10	0.624	0.437
and	138.50	196.50	57.00	0.27	0.164	0.359
including	168.00	181.50	13.50	0.45	0.275	0.588
and	238.50	250.50	12.00	0.35	0.184	0.449
and	310.50	316.50	15.00	0.22	0.129	0.290
10CK-01	1.45	212.00	210.55	0.166	0.132	0.237
including	1.45	67.50	66.05	0.222	0.135	0.295
And	85.50	119.50	34.00	0.183	0.132	0.254
And	192.00	212.00	20.00	0.430	0.360	0.624
10CK-02	121.00	145.69	24.69	0.221	0.093	0.271
including	139.00	145.69	6.69	0.372	0.103	0.427

*Cu Eq % was calculated using the following formula: (Cu (%) x 22 x 2.5) + (Au (g/t) x 0.03125 x 950) / (22 x 2.5). These calculations are based on a value of $2.50 for copper and $950 for gold.

The Copper King mineralization lies within an elliptical IP geophysical anomaly that is 6,000 metres long and 900 metres wide. The geophysical anomaly encompasses the Kena Gold and Gold Mountain zones at the north end suggesting there is mineral zoning within this large mineralized system. The Company's geologists recommend an extensive drill program to better define the extent of the copper-gold mineralization which is open in all directions and at depth.

During the September 2010 drill program gold mineralization was tested with six drill holes in three locations along a strong, 7-kilometre long structural corridor. The results confirm the presence of a high grade gold corridor that has now been intersected by wide spaced drilling and trenching over a 5.65-kilometre length (see news release dated October 18, 2010).

The table below shows the assay values from 13 drill holes and one trench that have tested this gold bearing structural corridor. Assays are reported from north to south.