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Sultan Minerals Releases NI 43-101 Scoping Study

WHICH IDENTIFIES A POTENTIALLY COMMERCIAL TUNGSTEN

OPERATION AT CURRENT PRICES

Vancouver, B.C. May 23, 2007 Sultan Minerals Inc. (SUL-TSX Venture) ("Sultan" or the "Company") is pleased to announce that it has now received the completed scoping study (PEA) for the Invincible and Dodger Tungsten Zones on its Jersey-Emerald Tungsten Property in the Kootenay District of British Columbia. The PEA is based on indicated, measured and inferred mineral resources stated below. The assessment has identified a potentially commercial operation at current prices and offers some possibilities of improving the economics substantially. The following steps are suggested:

         A 14,000 foot (4,200 metre) underground diamond drill program designed to expand the presently known Dodger tungsten and molybdenum zones;

         A 10,000 foot (3,000 metre) surface diamond drill program for the East Emerald and East Dodger tungsten zones;

         Update diamond drill information digitally from the former Emerald Tungsten Mine to evaluate remaining tungsten mineralization;

         A bulk sampling and metallurgical study on the historic tungsten tailings pond to investigate the potential recovery of tungsten, molybdenum and gold concentrations;

         A cavity measuring program in the historic Jersey lead-zinc mine to determine potential remnant mineralization followed by an NI 43-101 resource estimate.

Mr. Arthur G. Troup, President and CEO, commented, We are very pleased with the potential of the property as indicated in Wardrops independent scoping study. We look forward to commencing the drilling programs and other recommendations in the study in order to expand the known tungsten and molybdenum resources and improve the economics of the project.

Previously, Sultan Minerals announced the NI 43-101 compliant mineral resource estimate, which was completed by Giroux Consultants Ltd. on November 20, 2006.

Tungsten Resource

Cutoff

Tons>Cutoff

WO₃ %

Pounds of WO₃

Measured

0.15

1,200,000

0.379

9,096,000

Indicated

0.15

1,310,000

0.365

9,563,000

Measured Plus Indicated

0.15

2,510,000

0.372

18,674,000

Inferred

0.15

1,210,000

0.397

9,607,000

Molybdenum Resource

Cutoff

Tons>Cutoff

Mo %

Pounds of Mo

Indicated

0.05

28,000

0.098

54,880

Inferred

0.05

481,000

0.103

990,860

In January 2007, Sultan commissioned Wardrop Engineering Inc. (Wardrop) to prepare an independent National Instrument 43-101 (NI 43-101) compliant Technical Report for the Property. The NI 43-101 Technical Report will be filed on SEDAR with this press release on 23 May 2007.

The PEA has been completed to a 35% level of accuracy, suitable for this level of study. Wardrop used a three-year average concentrate price for the base case financial evaluation. The scheelite concentrate pricing, for the financial evaluation in this study, is based on free market values for ammonium paratungstate (APT).

Discounted APT Concentrate Price

Gravity Concentrate Price (US$/mtu)

Flotation Concentrate Price (US$/mtu)

NPV @ 8% discount rate (Cdn$ million)

IRR

(%)

Payback Period

(Years)

3 year average

198

172

-23.3

-3.4

n/a

2 year average

245

212

9.8

12.4

4.2

Current

244

211

3.8

9.7

4.5

This preliminary assessment is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized.

The following assumptions were made to develop this preliminary assessment:

Geological mineralization is continuous between drill holes;

Existing mine workings have been digitized from previous mine plans and accurately account for the material previously mined out of the orebody;

The financial evaluation was determined using an economic cutoff grade of 0.233% WO₃.

The Jersey-Emerald Property will produce two scheelite concentrate products:

         Gravity concentrate at a grade of 75% WO_3;

         Flotation concentrate at a grade of 65% WO₃.

The scheelite concentrate may be sold at discounted APT prices. Further understanding on the sale of scheelite concentrate is required. Wardrop recommends the use of a third party to provide further market and contract information in future studies.

There is significant potential for exploration and possible joint venture opportunities on surrounding properties, including:

         Reeves MacDonald Lead-Zinc Property;

         Jackpot Lead-Zinc Deposit;

         Stewart Tungsten and Molybdenum Property;

         Posie Lead-Zinc-Tungsten Claims;

         Molly Property;

         HB Lead-Zinc Property;

         Summit, Ore Hill, and Bonanza Mines.

Mr. Ed Lawrence, P.Eng., former Manager of the Jersey and Emerald Mines, is managing the ongoing exploration programs. Perry Grunenberg, P.Geo., of PBG Geoscience of Kamloops, B.C., is Sultan's project supervisor and "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects."

For further information on the Company's projects, visit www.sultanminerals.com

Arthur G. Troup, P.Eng., Geological

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

or

Linda Armstrong, Vice President

CHF Investor Relations

Phone: (416) 868-1079, Ext. 229

Email: Linda@chfir.com

Should you wish to receive Company news via email, please email catarina@chfir.com and specify Sultan Minerals News in the subject line or contact the Company directly.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release. This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

This news release includes certain statements that may be deemed "forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings that are available at www.sedar.com or the Companys website at www.sultanminerals.com.

SUL : TSX Venture RZN : Frankfurt SEC 12g3-2(b): 82-4741