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From: Biniam Tekle (biniamt@dehai.org)
Date: Tue Aug 24 2010 - 09:06:42 EDT
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=415620
Tue Aug 24, 2010
Sunridge Gold Appoints Vice President Project Development For The
Asmara Project, Eritrea
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Sunridge Gold Corp. (SGC/TSX.V) is pleased to announce the
appointment of Scott Ansell to the position of Vice President Project
Development of Sunridge. Scott joins the Sunridge team after six years
at AMEC Americas and will lead and manage the next phase of
engineering work necessary for all four deposits within the Asmara
Project, Eritrea. This includes advancing the high-grade copper
Debarwa Deposit to a feasibility stage and advancing the three
projects in the northern part of the Asmara Project, Emba Derho, Adi
Nefas and Gupo Gold, to a pre-feasibility and then feasibility stage.
These engineering studies are the next important steps for Sunridge as
it moves toward production and the realization of value for its
shareholders. Scott will be joining Sunridge full time in September
2010.
Michael Hopley, President and CEO of Sunridge states, "I am very
pleased to welcome Scott to the Sunridge team. His experience with
AMEC as Director of Studies and Manager of Consulting, Geology and
Mining makes Scott the ideal candidate for the VP Project Development
position. While at AMEC he gained a high level of experience
supervising a large staff of professionals completing all levels of
engineering studies. In addition, Scott has previous experience in
Eritrea where he worked for Nevsun Resources on the Bisha Project as
Project Manager during exploration and resource definition drilling,
resource modeling and conceptual studies and later for AMEC managing
professional and technical staff conducting mine planning, resource
model review and geotechnical evaluation for mine commissioning for
the Bisha Project."
Sunridge's primary goal is to bring the company's 100% owned
high-grade copper/zinc/gold Debarwa Deposit into production as soon as
possible with a specific focus on direct shipping high-grade copper
which requires the completion of a feasibility study by an independent
engineering company. In addition, Sunridge will move the other three
100% owned resources in the northern part of the Asmara Project, the
large copper/zinc/gold Emba Derho deposit, the high-grade
zinc/gold/copper Adi Nefas deposit and the Gupo Gold deposit to the
pre-feasibility study stage as soon as possible.
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 $4.8 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)
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements
that are not historical facts and include resource estimates. The
forward-looking statements in this press release are subject to
various risks, uncertainties and other factors that could cause the
Company's actual results or achievements to differ materially from
those expressed in or implied by forward looking statements. These
risks, uncertainties and other factors include, without limitation
risks related to fluctuations in gold prices; uncertainties related to
raising sufficient financing to fund the planned work in a timely
manner and on acceptable terms; changes in planned work resulting from
weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations and realize the
perceived potential of the Company's properties; uncertainties
involved in the interpretation of drilling results and other tests and
the estimation of gold resources; the possibility that required
permits may not be obtained on a timely manner or at all; the
possibility that capital and operating costs may be higher than
currently estimated and may preclude commercial development or render
operations uneconomic; the possibility that the estimated recovery
rates may not be achieved; risk of accidents, equipment breakdowns and
labor disputes or other unanticipated difficulties or interruptions;
the possibility of cost overruns or unanticipated expenses in the work
program; and other factors identified in the Company's filings with
Canadian securities regulatory authorities. Forward-looking statements
are based on the beliefs, opinions and expectations of the Company's
management at the time they are made, and other than as required by
applicable securities laws, the Company does not assume any obligation
to update its forward-looking statements if those beliefs, opinions or
expectations, or other circumstances, should change.
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