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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Aug 10 2011 - 15:17:11 EDT
Press Releases
- Sunridge Gold Engages Endeavour Financial
- Tue Aug 9, 2011
_____
Sunridge Gold Corp. (SGC/TSX.V) announces the engagement of Endeavour
Financial International Corporation ("Endeavour") on an exclusive basis to
provide financial advisory services with respect to its debt financing
requirements for the development of the Asmara Project, Eritrea.
The feasibility study at Debarwa copper-gold-zinc deposit is now
substantially past the halfway point of completion and the prefeasibility
study on the Asmara North copper-zinc-gold projects is also well advanced.
The Company is therefore now at a point of making some fundamental decisions
about how these projects should proceed towards mining. Endeavour's
technical and financial advice on these different development options at
this stage will be important to Sunridge.
Endeavour provided advice and assistance to Nevsun Resources Ltd. in its
evaluation of the Bisha Project, a large precious and base metal rich
deposit which is now in production 150 kilometers west of Asmara, Eritrea.
Upon receipt of TSX Venture Exchange ("TSXV") acceptance, the Company will
issue to Endeavour 1,000,000 share purchase warrants exercisable at a price
of $1.00 for three years to vest one-third every six months from the date of
the TSXV approval. Endeavour will be paid a monthly work fee during the term
of the engagement, milestone fees in certain circumstances and a financing
success fee on the closing of any debt financing provided to Sunridge.
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 currently has approximately 117 million shares
outstanding and approximately $16 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 Greg Davis at the numbers listed below.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Email: <mailto:greg@sunridgegold.com> greg@sunridgegold.com
Tel: 604-688-1263 (direct)
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