The proposed exploration programs will be designed to assess the potential for the presence of potentially economic mineral deposits on each of the licences and the initial results will determine the scope, location and timing of further exploration across the portfolio.

The company has assembled an experienced management and exploration team which is well qualified to exploit the potential of the company's mineral assets. The board has significant expertise and experience in mineral exploration, project development and corporate finance.

Chairman Jeremy King regularly advises ASX listed companies on a range of corporate matters and currently serves on the Boards of Red Mountain Mining Ltd (ASX: RMX), DTI Group Limited (ASX: DTI), Smart Parking Limited (ASX: SPZ), Transcendence Technologies Limited (ASX: TTL), Tando Resources Limited (ASX: TNO) and EHR Resources Limited (ASX: EHX).

The Offer

Sultan Resources (ACN 623 652 522) invites applications for an IPO of a minimum of 22,500,000 shares at an issue price of $0.20 per share to raise a minimum amount of $4.5M.

The company may accept oversubscriptions of up to a further $500,000 through the issue of up to a further 2,500,000 shares at an issue price of $0.20 each under the offer.

The maximum amount which may be raised therefore $5M.

Xcel Capital and ARQ Capital Ltd have been appointed joint Lead Managers to the Offer.

Raisebook is accepting bids of between $2,000 (minimum) and $3,000 (maximum) per entity - investors interested in this offer are encouraged to review the Disclosure Documents and bid as soon as possible as we expect this offer to be in high demand.

The primary purpose of the Offer is to provide funds to undertake a systematic exploration program at the Projects, aimed at the discovery of an economic mineral deposit.

The offer of the securities are made in, or accompanied by, a copy of the disclosure document which can be obtained by clicking on the "ACCESS DISCLOSURE DOCUMENT" button on this page.

Anyone who wants to acquire the securities will need to complete an electronic application form which will be sent via email after downloading the Disclosure Document.

Before making an investment decision, potential investors should read the Disclosure Documents entirely, and seek professional financial advice.

The undertaking of mineral exploration is a high-risk business. All of the Company’s projects are at a very early exploration stage and no mineral resources have been identified on any of the tenements. There is no guarantee that the exploration of these tenements will be successful and result in the discovery of an economically viable Mineral Resource.

Capital Structure

Note: Refer to the Section 1.7 of the Disclosure Document for additional detailed information on the capital structure.

Summary of Projects

The Company’s Projects are comprised of the East Tallering, Dalwallinu, Thaduna and Lake Grace Projects.

The Projects cover a material ground holding of approximately 946km2 in emerging terrains targeted by successful mid-tier explorers such as Sandfire Resources Ltd (ASX: SFR) and Gold Road Resources Ltd (ASX: GOR).

In addition, junior explorers such as Cygnus Gold Ltd (ASX: CY5) and Lodestar Minerals (ASX: LSR) are conducting successful explorations programs in the regions.

Thaduna

The Thaduna Project comprises of two granted Tenements and covers a land area of approximately 22km2.

These Tenements are 190km northeast of Meekatharra, and Lodestone Minerals Ltd’s (ASX: LSR) Brumby and Boundary Fence (in JV with Vango Mining Limited (ASX: VAN)) Gold projects are immediately northeast of these Tenements.

Immediately to the southwest of Sultan’s Thaduna Tenements, successful explorer, Sandfire Resources Ltd (ASX: SFR) maintains a tenement package of some 1,200km2 prospective for VMS-style Cu-Ag mineralisation similar to their DeGrussa Mine.

Sultan believes these licences have the potential to host structurally-hosted gold and/or Kambalda-style magmatic Ni-Cu-Co mineralisation in Archaen greenstones, DeGrussa- style VMS base metal mineralisation, Thaduna-style epithermal copper deposits and sedimentary exhalative-style base metal mineralisation in overlying Proterozoic sediments. Both rock types are exposed on the Thaduna Tenements to be acquired by Sultan.

Lake Grace Nickel-Cobalt

This Tenement contains a sparsely-drilled ultramafic sequence as well as extensions of the prospective gold-hosting stratigraphy of the Lake Grace Gold Project immediately to the south.

The region contains a significant Ni-Co-Sc deposit some 60km southwest of Sultan’s Tenements in similar geological setting (Golden Mile Resources Ltd (ASX: G88) Quicksilver Ni-Co-Sc deposit).

Lake Grace Gold

Sultan’s Lake Grace Gold Tenement portfolio is approximately 250km southeast of Perth and is surrounded by tenements held by the recently listed Cygnus Gold (ASX: CY5), and Gold Road Resources (ASX: GOR).

Established gold resources in the area include Explaurum’s (ASX: EXU) 700koz Tampia Gold Deposit 80km to north-northwest and Ausgold’s (ASX: AUC) Katanning Gold Deposit of 785koz approximately 70km southwest of Sultan’s Lake Grace Gold Tenements, both in similar geological settings.

Sultan Resources believes the South West Mineral Field to be an emerging gold exploration province and is encouraged by the strong recent competitor interest in the area.

East Tallering

The East Tallering Project is prospective for gold mineralisation and comprises one granted Tenement covering approximately 67km2. The area is located 450km north east of Perth and immediately to the east of Kalamazoo Resources (ASX: KZR)’ Snake Well gold project.

Sultan believes the Tenement has potential for the discovery of greenstone-hosted gold deposits similar in nature to the nearby gold resources currently being evaluated by Kalamazoo Resources on their nearby project portfolio.

Dawallinu

The Dalwallinu Project comprises of one granted Tenement, and covers a land area of approximately 167km2. The Tenement is located approximately 200km northeast of Perth and contains approximately 20km strike length of the prospective Yerlering Fault Corridor.

Sultan believes the Tenement has potential for the discovery of high-grade gold deposits similar to the Pithara Gold Mine which is located on a small mining lease within E70/4884 (noting the Pithara Gold Mine is excised from the Tenement to be acquired by Sultan and is therefore not part of the acquisition under the Term Sheet).

Exploration Plans

The company will commence exploration shortly after the proposed ASX listing on its granted exploration licences including:

• East Tallering Project - Percussion drilling programs to test bedrock gold mineralisation as indicated by historic aircore drilling and geophysical anomalies
• Dalwallinu - Aircore and/or percussion drilling targeting structurally-hosted high-grade gold shoots similar to the nearby Pithara Gold Deposit
• Thaduna Project - Aircore and/or deeper percussion drilling to determine the Project's potential to contain structurally hosted gold mineralisation and/or VMS style base metal mineralisation.
• The company will also advance the exploration licence applications to grant at the Lake Grace Project and commence exploration drilling and geophysical surveys in priority areas.

Indicative Timetable

Note: The above dates are indicative only and may change without notice. The company reserves the right to extend the Closing Date or close the offer early or without notice.