From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Tue Dec 29 2009 - 08:51:18 EST
Sunridge Gold Corp.
Dec 29, 2009 08:00 ET
Sunridge Gold's 2010 Exploration Plans for Asmara Project, Eritrea
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 28, 2009) - Sunridge
Gold Corp. (TSX VENTURE:SGC) ("Sunridge") believes that the sanctions
imposed on the State of Eritrea on December 23, 2009 by the United
Nations Security Council will have no affect on the Company's activities
in the country. The Company is planning a significant 2010 exploration
and drilling program for its Asmara Project which will begin with the
commencement of drilling of the large and previously undrilled Daero
Paulus target in mid- January 2010, part of the Antofagasta joint
venture ground. In addition further drilling is planned at the Debarwa
Deposit with the objective of increasing the size of the deposit.
Management will be closely monitoring all information regarding the
effect of the sanctions, if any, on the Company. The details of the
sanctions are not yet known and may not be for some time. The government
of Eritrea states that there is no justification for imposing the
sanctions.
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. On October 2, 2009, the Company executed an
exploration and funding agreement with Antofagasta Minerals S.A. whereby
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 exploration agreement with Antofagasta excludes the current
existing Development Areas including the Emba Derho, Debarwa, Adi Nefas
and Gupo Gold deposits.
Sunridge has approximately 76 million shares outstanding and $8.3
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
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.
For more information, please contact
Sunridge Gold Corp.
Don Halliday
Executive Vice President
604-899-1505 (direct)
donh@sunridgegold.com
or
Sunridge Gold Corp.
Greg Davis
VP Business Development
604-688-1263 (direct)
greg@sunridgegold.com
http://www.marketwire.com/press-release/Sunridge-Gold-Corp-TSX-VENTURE-S
GC-1096007.html
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