News

Toronto, Ontario, Canada, April 23, 2007– Sulliden Exploration Inc. (“Sulliden” or the “Company”) (TSX:SUE) reports that it has received the exploration permit for the Shahuindo gold/silver project in Cajamarca, northern Peru.

The Ministry of Energy and Mines in Peru has issued to the Company’s wholly owned subsidiary, Minera Shahuindo SAC, an exploration permit in respect of the Shahuindo property. The permit, which was issued in Lima dated April 17, 2007, is valid for a period of nine months and authorizes Sulliden to conduct an exploration program on the Shahuindo Property, specifically on the mining concessions identified as “Acumulacion Algamarca”; Perdida 1; Malvas; and Malvas 92. These concessions are located to the western and north-western part of the Shahuindo property and contain some of the many exploration targets on Shahuindo which Sulliden has identified for further drilling.

Under the Permit, Sulliden is authorized to carry out an exploration program of up to 5000 metres of drilling from up to 20 platform pad locations and to build 11 kilometres of access roads on the property.

Shahuindo Litigation – Hearing rescheduled

The Company’s rights to the Shahuindo property in Peru are in dispute and are the subject of extensive litigation in Peru. (See Sulliden Press Release February 7, 2007).

In July 2006 the Arbitration Tribunal issued its decision and award confirming Sulliden’s entitlement to the Shahuindo property (see Sulliden Press Release dated July 24, 2006).

The hearing by the Commercial Chamber of Superior Court of Lima of the Nullity Petition filed by Algamarca, in which Algamarca seeks to have the Arbitration Award issued in Sulliden favour declared null and void, was expected to be heard in March 2007 but has not yet taken place due to scheduling difficulties in assembling the requisite panel of three Superior Court judges. (See Sulliden Press Release dated March 13, 2007).

Sulliden has been advised that the hearing has now been re-scheduled for April 27, 2007 subject to the availability of the Court. Sulliden is anxious that the hearing take place as soon as possible so that all aspects of this dispute can be finally resolved.

The Minister of Energy and Mines has recorded Sulliden as the owner of the 26 mining concessions in the “Mining Rights System and Catastro-Sidemcat” of the National Institute of Mining Concessions and Cadastre - INACC, the official register of owners of mining concessions maintained by the Ministry of Energy and Mines.

The 26 mining concessions at Shahuindo have been registered in the name of Sulliden Shahuindo effective November 2002, in the Register of the National Superintendente of Public Registers (SUNARP) (the official Peruvian Government State Registry), and Minera Sulliden Shahuindo is recorded as the registered owner of the 26 mining concessions. Sulliden is also registered in the SUNARP Registry as the owner of the superficial (surface) lands at Shahuindo.

Exploration at Torrine-drilling permit approved

The 2007 exploration program is underway on the Torrine gold project. The Minister of Energy and Mines has approved the permits, which have been issued under the new regulations of the mining laws, for drilling in the concessions Daphne and Daisy parts of the Torrine property. In preparation for a drilling campaign access agreements have been concluded with the local land owners and a road is being constructed to enable heavy equipment to access the property.

The first phase of drilling will consist of 10-15 diamond drill holes totalling about 2,000 metres. Drilling will commence upon completion of access road which is expected to be available towards the end of May. Sulliden has the option to earn a 50% interest in Torrine from joint venture partner Aruntani SAC. (See Sulliden Press Release dated February 21, 2007).

ABOUT SULLIDEN:

Sulliden Exploration Inc. is a mineral exploration company focused on the development of its Shahuindo gold-silver project located in northern Peru, in one of the world’s most prospective gold and silver regions, sitting approximately 25 km north of Barrick’s Laguanas Norte-Alto Chicama 500,000 oz/gold per year mine; 70km south of Newmont’s multi-million oz/gold Yanacocha district and 200 km north of Barrick’s Pierina 650,000 oz/gold per year mine.

The Shahuindo resource stands at 38 million tonnes grading 0.95 g/t Au and 22.99 g/t Ag, containing 1.2 million oz of gold and 28 million oz of silver (equivalent to 1.6 million oz of gold at a gold to silver ratio of 1:60) in the Indicated Category; and 17.2 million tonnes grading 0.62 g/t Au and 12.83 g/t Ag, containing 342,000 oz of gold and 7 million oz of silver (equivalent to 460,000 oz of gold at a gold to silver ratio of 1:60) in the Inferred Category - (Resource Estimation – Met-Chem Canada Inc. April 2005 filed on www.sedar.com).

Sulliden’s rights to the Shahuindo property are in dispute and are the subject of extensive litigation in Peru.

In addition, Sulliden has an option to acquire 66% of an adjacent 1,900 hectares known as the Vikingo concessions which brings the Company’s land holdings in this exciting gold district to almost 10,000 hectares.

In southern Peru, Sulliden, through a subsidiary, has entered into an option agreement to earn a 50% interest in the Torrine gold project with Aruntani SAC.

Further information / Risk Factors:

For detailed information and background in the Shahuindo litigation please refer to Sulliden’s Annual Information Form, the Notes to the Company’s Annual and Quarterly Financial Statements and press releases which can be found at www.sedar.com. For further information on Risk Factors with regard to an investment in Sulliden please refer to Sulliden’s Annual Information Form and to the summary of Risk Factors in the Company’s Management Discussion and Analysis for the year ended April 30, 2006 and for the quarter ended January 31, 2007 which can be found at www.sedar.com.

Caution regarding forward-looking information:

Statements contained in this document which are not historical facts are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the outcome of legal proceedings, the issue of permits, the size and quality of the company’s mineral resources, progress in development of mineral properties, future production and sales volumes, capital and mine production costs, demand and market outlook for metals, future metal prices and treatment and refining charges, and the financial results of the company. Factors that could cause such differences, without limiting the generality of the following, include: volatility and sensitivity to market metal prices impact of change in foreign currency exchange rates and interest rates; imprecision in reserves estimates; environmental risks including increased regulatory burdens; unexpected geological conditions; adverse mining conditions; political risks arising from operating in developing countries; legal title to properties, outcome of litigation, changes in government regulations and policies, including laws and policies; and failure to obtain necessary permits and approvals from government authorities; and other development and operating risks.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.

Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revised any forward-looking statement, whether as a result of new information, future events or otherwise.

For further information please contact:

John F. Kearney, President
Tel: (416) 703-8287
e-mail: contact@sulliden.com

James H. Coleman, Chairman
Tel: (403) 267-8373