Sunridge Gold Corp.
TSX VENTURE : SGC

Sunridge Gold Corp.

March 17, 2011 08:01 ET

Sunridge Gold Extends Depth of the Primary Copper-Zinc-Gold Mineralization at Debarwa Deposit, Asmara Project, Eritrea

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2011) - Sunridge Gold Corp. (TSX VENTURE:SGC) has received assay results from twenty-one diamond drill holes from the Debarwa copper-zinc-gold deposit located on the Asmara Project, Eritrea. Most of these drill holes have successfully extended the depth of the primary mineralization at Debarwa from 150 to 200 meters from surface. These assays (along with results from 35 drill holes completed in late 2009) will be used to update the resource estimate for Debarwa which is scheduled to be completed in April 2011. This new resource will be used as part of the ongoing Debarwa feasibility study. A total of 59 diamond drill holes have been completed to date in the current phase of drilling. Assays for 24 diamond drill holes are still pending.

Michael Hopley, Sunridge's President and CEO states, "Much of the focus at Debarwa has been on the shallow parts of the deposit, particularly the Gold Oxide and Copper Supergene Zones. We are excited that many of these new deeper drill holes are demonstrating excellent grades of copper, zinc and gold at depth in the primary zone of mineralization."

Highlights from these latest drilling results are as follows:

  • DEB-140 intersected 14.00 meters of 2.78% copper, 7.33% zinc & 1.35 g/t gold
  • DEB-143 intersected 13.60 meters of 4.94% copper
  • DEB-144 intersected 8.20 meters of 1.87% copper, 10.15% zinc & 1.16 g/t gold
  • DEB-146 intersected 7.60 meters of 1.32% copper, 10.51% zinc & 4.87 g/t gold
  • DEB-149 intersected 6.00 meters of 4.71% copper, 0.95 g/t gold
  • DEB-157 intersected 8.10 meters of 1.15% copper, 3.2% zinc & 4.07 g/t gold
A summary of the assay results from these twenty-one drill holes are as follows:
Drill hole # From Metres To Metres Interval Metres Gold g/t Silver g/t Copper % Zinc % Zone
DEBD-140 48.00 62.50 14.50 0.81 8.93 0.06 0.63 Gold Oxide
and 82.50 96.50 14.00 1.35 23.18 2.78 7.33 Zinc Primary
DEBD-142 109.95 113.95 4.00 0.01 2.50 0.02 1.22 Zinc Primary
DEBD-143 79.60 93.20 13.60 0.77 23.62 4.94 0.22 Copper Supergene
including                
DEBD-143 86.70 91.70 5.00 1.89 59.20 11.52 0.56 Copper Supergene
DEBD-144 127.10 135.30 8.20 1.16 25.46 1.87 10.15 Zinc Primary
DEBD-145 97.84 92.37 4.53 1.29 26.81 1.00 8.85 Zinc Primary
and 114.25 121.04 6.79 2.83 39.93 1.06 5.64 Zinc Primary
DEBD-146 138.60 146.20 7.60 4.87 33.23 1.32 10.51 Zinc Primary
DEBD-147 67.65 72.30 4.65 0.70 7.37 1.58 0.23 Copper Supergene
DEBD-148 106.70 118.00 11.30 3.00 17.63 0.66 3.82 Zinc Primary
DEBD-149 41.60 47.60 6.00 0.95 73.00 4.71 0.18 Copper Supergene
DEBD-150 71.75 83.73 11.98 1.63 49.92 2.29 7.18 Zinc Primary
DEBD-151 159.75 161.75 2.00 5.08 104.50 2.21 5.28 Cu/Zn Primary
DEBD-153 106.00 112.80 6.80 4.46 63.52 1.19 4.01 Cu/Zn Primary
DEBD-154 133.17 137.16 3.99 1.23 23.28 1.08 5.15 Cu/Zn Primary
DEBD-155 25.40 31.40 6.00 0.73 13.38 0.05 0.01 Gold Oxide
DEBD-156 54.80 58.60 3.80 0.69 29.38 1.66 0.02 Copper Supergene
DEBD-157 154.25 162.35 8.10 4.07 44.14 1.15 3.20 Cu/Zn Primary
DEBD-158 80.25 86.80 6.55 1.24 10.49 0.23 0.26 Gold Oxide
and 120.93 122.60 1.67 1.29 261.29 7.76 4.32 Cu/Zn Primary
DEBD-159 113.55 125.00 11.45 0.86 8.20 0.43 0.64 Cu/Zn Primary
DEBD-160 73.30 82.40 9.10 1.37 18.91 0.42 2.93 Zinc Primary

NOTE: A plan map has been posted on the Company's website – www.sunridgegold.com. There were no significant assays from drill hole DEBD – 141 and 152.

The Debarwa Feasibility Study

The Debarwa feasibility study will consider a standalone process plant using flotation for the recovery of the base and precious metals and will study various mining options over a forecast life of mine of approximately 9 years. The study will further investigate a direct shipping option to mine high-grade copper mineralization (greater than 15% copper) to generate early cash flow and enhance economics of the deposit. The completion of this report is expected in the third quarter of 2011.

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 $24 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.

NOTES:

  1. A Quality Assurance/Quality Control program was part of the sampling program on the Debarwa copper-zinc-gold deposit. 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 sampling.
  2. Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.
  3. The results of the Debarwa drill program have been reviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and CEO of Sunridge.

SUNRIDGE GOLD CORP.

Michael Hopley, President and Chief Executive Officer

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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.

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