Sunridge Gold Corp.
TSX VENTURE : SGC

Sunridge Gold Corp.

September 14, 2005 12:32 ET

Sunridge Gold Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 14, 2005) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Sunridge Gold Corp. (TSX VENTURE:SGC) announces a non-brokered private placement of up to 6,000,000 units at a price of $0.65 per unit for gross proceeds of up to $3,900,000. Each unit will consist of one common share and one-half of one non-transferable common share purchase warrant, with each whole warrant entitling the subscriber to purchase one additional common share in the capital of the Company at a price of $0.90 for a period of two years from closing of the private placement. In the event that the trading price of the common shares of the Company closes at or above $1.50 per share for 20 consecutive days in the period commencing four months after the Closing Date, the Company will have the right to accelerate the expiry date of the Warrants to the date which is 30 days after the day a press release is widely disseminated by the Company announcing the accelerated expiry date. The Company may pay finder's fees allowable under the TSX Venture Exchange policies. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval.

Proceeds of this private placement will be used, together with funds on hand, for contracting at least one additional drill rig for continued development and exploration drilling at the Asmara Project, Eritrea and for general working capital.

The common shares and warrants and any securities which may be issued thereunder have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. person in the absence of such registration or an exemption therefrom.

SUNRIDGE GOLD CORP.

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.

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