Amended: Sultan Minerals Completes Non-Brokered Private Placement

(via Thenewswire.ca)

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: mlee@sultanminerals.com or info@sultanminerals.com

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.

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