Sunridge Gold Corp.

Sunridge Gold Corp.

June 02, 2005 18:33 ET

Sunridge Gold Corp.: Asmara Project Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 2, 2005) - Sunridge Gold Corp. (TSX VENTURE:SGC) is pleased to provide an update on the Company's exploration activities in Eritrea.

The 10,000 metre diamond drilling program initially scheduled to commence in early May is now expected to commence by mid-June 2005 after delays in the delivery of equipment and shipping of the rig from Saudi Arabia. Drill holes for the upcoming program have been spotted by Michael Hopley, President of the Company and the Qualified Person for the project, when at site two weeks ago. The location of the Asmara Project allows drilling to continue throughout the upcoming rainy season and there are no anticipated interruptions due to weather.


The completion of detailed geological mapping covering all of the known 700 metre strike length of the Adi Nefas Gossan occurrence is in progress under the direction of Consultant Geologist and VMS specialist C. Tucker Barrie.

Max-Min Electro-Magnetic (EM) and Induced Polarization (IP) geophysical surveys consisting of 13 traverses over a one-kilometre strike length of the Adi Nefas structure have recently been completed. The purpose of these surveys is to provide more detailed drill hole targeting information on the structures hosting the recently discovered high-grade copper supergene zone at Adi Nefas and the high-grade gold and zinc zones. Previous limited geophysical surveys show that results appear to reflect these high-grade zones which were reported on March 16, 2005 (NR2005-05). A full interpretation of the results of the recent survey is anticipated soon and is expected to yield a number of additional drill targets. A minimum of 4,000 metres of diamond drilling is planned at Adi Nefas.


Detailed geological mapping and sampling was completed over an area 1-2 kilometres immediately south of the Debarwa high-grade copper-gold deposit. Based on the presence of a prominent quartz-porphyry intrusive and its proximity to the regional structure controlling mineralization at Debarwa this area is considered to be highly prospective. As part of the pending drill program, 4,000 metres will be allocated to the Debarwa deposit and other targets to the south.

Mr. Barrie has reviewed all work and results to date and has made recommendations for further work at several other VMS prospects proximal to Debarwa and within the Debarwa license.

In the Galla Valley area located in the south and eastern part of the Debarwa license (6 km east of the Debarwa Deposit) 83 rock chip samples have been taken on the Torat prospect. This prospect consists of a substantial quartz vein extending over a 300 metre strike length which was mined for gold by the colonial Italian miners. Results are pending.


A soil geochemical survey has recently been completed at the Kodadu VMS prospect in the SE corner of the Medrizien license. This prospect has shown gossan to extend over a 700 metre strike length and previous surface sampling by joint-venture partner Sub-Sahara Resources NL has shown highly anomalous copper, zinc and gold values at surface. This prospect is considered to have considerable potential for the discovery of VMS-type mineralization at depth.

At least 2,000 metres of diamond drilling is scheduled for this prospect and others on the Medrizien license as part of the upcoming drill program.


Pursuant to the Company's shareholder approved Stock Option Plan, the Directors have today granted Incentive Stock Options on 665,000 shares of the Company's capital stock, exercisable for up to five years at a price of $0.62 per share which price is the last closing price of the Company's shares prior to the date of grant. The options granted will be subject to any applicable regulatory hold periods.

Sunridge Gold Corporation is a mineral exploration company focused on the acquisition, exploration, discovery and development of precious and base metal projects. The Company is currently focused on the Asmara Project in Eritrea and continues to evaluate exploration and advanced opportunities elsewhere. The Company has 21.6 million shares outstanding and trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please visit our website at or call Don Halliday at the number listed below.


Michael Hopley, President and Chief Executive Officer

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

Contact Information