Sunridge Gold Corp.

Sunridge Gold Corp.

December 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.


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 or call Don Halliday or Greg Davis at the numbers listed below.

    "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.  

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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