From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Fri Jan 08 2010 - 21:49:06 EST
PRESS RELEASE
Wed Jan 6, 2010
Sunridge Gold Increases Size Of Asmara Project, Eritrea By 60%
Sunridge Gold Corp. (SGC/TSX.V) ("Sunridge") is pleased to announce that
the Eritrean government has granted Sunridge extensions to two of its
exploration licenses that make up the Asmara Project, Eritrea. These
extensions have increased the overall size of the Asmara Project by
approximately sixty percent, from 665 square kilometres to 1062.5 square
kilometers.
As can be seen on the map attached to this release the extensions expand
the Sunridge exploration licenses five kilometres to the west and five
kilometres to the east which covers areas where Sunridge staff believes
are continuations of both volcanogenic-massive-sulphide (VMS) and shear
zone gold mineralized trends.
It is estimated that approximately 153 square kilometers of the new
ground are within the area of interest of the Exploration Areas of the
October 2, 2009 exploration and funding agreement with Antofagasta
Minerals S.A. ("Antofagasta"). Antofagasta can fund US$10,000,000 of
exploration work over a 5-year period to earn a 60% interest in the
Exploration Areas of the Asmara Project. The Antofagasta area of
interest excludes the current existing Development Areas including the
Emba Derho, Debarwa, Adi Nefas and Gupo Gold deposits.
Reconnaissance work on these new extensions will commence later this
month.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the
acquisition, exploration, discovery and development of base and precious
metal projects on the Asmara Project in Eritrea and exploration
properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and
approximately $8.0 million in cash. Sunridge trades on the TSX Venture
Exchange under the symbol SGC. For additional information on the Company
and its projects please view the slide show on our website at
www.sunridgegold.com or call Don Halliday or Greg Davis at the numbers
listed below.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email: donh@sunridgegold.com
Tel: 604-899-1505 (direct)
Greg Davis, VP Business Development
Email: greg@sunridgegold.com
Tel: 604-688-1263 (direct)
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=379132
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