Sunridge Gold Corp.
TSX VENTURE : SGC

Sunridge Gold Corp.

January 29, 2007 10:15 ET

Sunridge Announces Independent Resource Estimate for Debarwa & Adi Nefas VMS Deposits, Asmara Project, Eritrea

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 29, 2007) - Sunridge Gold Corp. (TSX VENTURE:SGC) announces independent resource estimates for the Debarwa and Adi Nefas volcanogenic massive sulphide (VMS) deposits within its Asmara Project, Eritrea. Management is pleased with these estimates as they meet the Company's objectives in tonnage and grade and provides a strong asset base from which Sunridge can grow into a base and precious metals producer. Due to the proximity of these deposits as well as the good local infrastructure it is planned to develop these two deposits jointly. A Preliminary Assessment Study based on the resources at Debarwa and Adi Nefas is scheduled for completion during the first quarter of this year. These estimates do not include the large Emba Derho VMS deposit or the Gupo Gold deposit also part of the Asmara Project.

A summary of these total inferred resources at Debarwa and Adi Nefas using different cut-off grades for the various metals and types of mineralization is as follows:



Total Debarwa and Adi Nefas Inferred Resources - January 26th, 2007
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Tonnes Gold Silver Copper Zinc
g/t g/t % %
-----------------------------------------------------
Oxides 3,141,000 1.98 18.12 0.23 0.13
-----------------------------------------------------
Supergene 1,572,000 1.45 32.66 5.05 0.41
-----------------------------------------------------
Primary 3,390,000 2.06 62.49 1.69 5.56
-----------------------------------------------------
TOTAL 8,103,000 1.91 39.51 1.78 2.46
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Debarwa Inferred Resources - January 26th, 2007
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Cut-off Tonnes Gold Silver Copper Zinc
grade g/t g/t % %
---------------------------------------------------------------
Oxides 0.5 g/t Au 2,722,000 1.86 14.54 0.21 0.09
---------------------------------------------------------------
Supergene 0.5% Cu 1,497,000 1.33 30.06 5.12 0.27
---------------------------------------------------------------
Primary 0.5% Cu 1,104,000 1.16 24.86 2.17 3.21
---------------------------------------------------------------
TOTAL 5,323,000 1.57 21.04 2.00 0.79
---------------------------------------------------------------


Adi Nefas Inferred Resources - January 26th, 2007
---------------------------------------------------------------
Cut-off Tonnes Gold Silver Copper Zinc
grade g/t g/t % %
---------------------------------------------------------------
Oxides 0.5 g/t Au 419,000 2.74 41.39 0.38 0.36
---------------------------------------------------------------
Supergene 0.5% Cu 75,000 3.80 84.47 3.68 3.22
---------------------------------------------------------------
Primary 1.0% Zn 2,286,000 2.49 80.66 1.46 6.70
---------------------------------------------------------------
TOTAL 2,780,000 2.56 74.84 1.36 5.65
---------------------------------------------------------------


The Debarwa and Adi Nefas deposits are located approximately 30 kilometres apart both near the capital city of Asmara and have excellent infrastructure including paved roads, power, water, an international airport and an international sea port only four hours away by road.

The resource estimates were completed by Beacon Hill Consultants (1988) Ltd. (Beacon Hill), an independent international engineering firm based in Vancouver, and complies with National Instrument 43-101 requirements. The resource estimate dated January 26th, 2007 was carried out by Garth D. Kirkham, P.Geo., an independent Qualified Person as defined by National Instrument 43-101.

The resources at Debarwa and Adi Nefas were estimated using different cut-off grades for various metals as there are three distinct types of vertically stacked mineralization which, it is anticipated, will be mined by a combination of open-pit and underground methods. A gold cut-off grade of 0.5 g/t was chosen for the upper oxide gold zones which are generally considered to be amenable to open-pit mining. A cut-off grade of 0.5% copper was chosen for the supergene zones due to the high-grade copper nature of these zones which may be amenable to both open-pit and underground mining. As the chief metal value in the Debarwa primary mineralization is copper which, is anticipated to be mined by underground methods, a 0.5% copper cut-off was chosen. As the chief metal value at Adi Nefas in the primary mineralization is zinc, which is considered to be potentially mined by underground methods, a 1% zinc cut-off was chosen to estimate these inferred resources.

Using cut-off grades shown in the above tables the total inferred resources for Debarwa and Adi Nefas are estimated to contain 497,590 ounces of gold (8,103,000 tonnes grading 1.91 g/t gold) 10,293,000 ounces of silver (8,103,000 tonnes grading 39.51 g/t silver), 318 million pounds of copper (8,102,919 tonnes grading 1.78% Cu) and 440 million pounds of zinc (8,102,919 tonnes grading 2.46% Zn). These estimates show contained metal only and do not reflect losses through mining dilution or process recovery losses.

Both the Debarwa and Adi Nefas deposits have three distinct zones of mineralization, a surface oxide gold zone from which most base metals have been leached; underlain by an enriched copper supergene zone; underlain by a primary sulphide zone (mostly copper-rich at Debarwa and zinc-rich at Adi Nefas). These zones are shown graphically in the diagram at the end of this release. To view the diagram accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/Sunridge.pdf

Debarwa Resource Estimate

The Debarwa deposit is a copper/gold/zinc VMS deposit that is approximately 8 to 30 metres wide and dips to the west at about 50 to 60 degrees. Sunridge drilling has defined mineralization over a total of more than 1,000 metres strike length and down to about 250 metres from surface. The resource estimate was completed by Beacon Hill using industry standard methods that conform to National Instrument 43-101 and utilize MineSight™ software. The estimate was based upon data from 286 drillholes (total of 32,530 metres) and a geological model supplied to Beacon Hill by Sunridge. This geological model created by Sunridge staff used 20 metre cross-section spacing. Ordinary kriging was the choice for the estimation method utilizing 5 x 5 x 5 metre blocks. The ellipsoid dimensions and direction chosen for the estimation process was a maximum of 100 metres at 20 degrees azimuth and 0 degrees dip for the major axis, 100 metres at 110 degrees and 45 degrees for the minor axis and 25 metres at 110 degrees and 0 degrees for the vertical axis. The influences of samples considered statistically to be high-grade outliers for each metal were limited to a restricted distance so that they did not bias the resource estimate.

The model was validated utilizing inverse distance and nearest neighbour polygonal methods. Specific gravities used in the model were based on 800 specific gravity measurements made on drill core and then calculated on a block by block basis using nearest neighbor estimation techniques.

Adi Nefas Resource Estimate

The Adi Nefas deposit is a zinc/gold/copper VMS deposit that is approximately 10 metres wide and dips to the east at about 70 to 80 degrees. Sunridge drilling has defined mineralization over a total of more than 450 metres strike length and down to over 300 metres from surface. The resource estimate was completed by Beacon Hill using industry standard methods that conform to National Instrument 43-101 and utilize MineSight™ software. The estimate was based upon data from 96 drillholes (total of 15,400 metres) and a geological model supplied to Beacon Hill by Sunridge. This geological model created by Sunridge used 40 metre cross-section spacing. Inverse distance was the choice for estimation method utilizing 3 x 10 x 5 metre blocks. The ellipsoid dimensions and direction chosen for the estimation process was a maximum of 100 metres at 10 degrees azimuth and 0 degrees dip for the major axis, 100 metres at 100 degrees and 45 degrees for the minor axis and 15 metres at 100 degrees and 0 degrees for the vertical axis. The influences of samples considered statistically to be high-grade outliers for each metal were limited to a restricted distance so that they do not bias the resource estimate.

The model was validated utilizing nearest neighbour polygonal methods. Specific gravities used in the model were based on 711 specific gravity measurements made on drill core and then calculated on a block by block basis using arithmetic means for each zone.

ADDITIONAL RESOURCE POTENTIAL:

The foregoing inferred resource estimates do not include the Gupo Gold Deposit where the Company has an estimated a NI 43-101 compliant inferred resource of 1,965,000 tonnes at an average grade of 2.99 g/t containing 189,000 ounces of gold (for details see the Company's NI 43-101 Technical Report filed on February 17, 2004 and amended by the Amended Technical Report filed and dated April 27, 2004). Also, these estimates do not include the results of recent drilling by Sunridge at Gupo. These inferred resources could provide additional surface resources to any potential mining operations due to its proximity to both the Debarwa and Adi Nefas deposits.

In addition, these resource estimates do not include the large Emba Derho zinc/copper/gold VMS deposit where 118 diamond drill holes have been drilled to date over a strike length of over 900 metres, a width of up to 400 metres and a depth of 300 metres.

Sunridge Gold Corp. is a mineral exploration company focused on the acquisition, exploration, discovery and development of precious and base metal projects. The Company has 39 million shares outstanding and 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 at the number listed below.

DISCLOSURE NOTES:

1. A Quality Assurance/Quality Control program was part of the drilling program on both the Debarwa and Adi Nefas deposits. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. The database archive used by Beacon Hill for the estimate of the inferred resources at Debarwa and Adi Nefas was reviewed and verified by Dr. Barry W. Smee, a Qualified Person as defined by NI 43-101.

2. A description of the geology, sampling procedures, and the Company's laboratory Quality Assurance/Quality Control procedures are as described in the Company's National Instrument 43-101 Technical Report filed on February 17, 2004 and amended by the Amended Technical Report filed dated April 27, 2004. This report is available at www.sedar.com.

3. Samples from the drilling were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.

4. The results of the Beacon Hill resource estimate have been reviewed by Sunridge technical staff including Michael J. Hopley, the Qualified Person for Sunridge. The Company believes that the Beacon Hill resource estimate for Debarwa and Adi Nefas was conducted in a professional and competent manner. Mr. Hopley is also the person responsible for preparation of the information contained in this news release and is President and Chief Executive Officer of Sunridge.

5. Inferred resources are resources that have not been defined in sufficient detail to be categorized as measured or indicated resources and have not had economic considerations applied to them and are therefore not categorized as reserves. These resources do not have demonstrated economic viability.

SUNRIDGE GOLD CORP.

Michael Hopley, President and Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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