Sunridge Gold Corp.

Sunridge Gold Corp.

June 29, 2011 08:00 ET

Sunridge Gold Restarts Exploration Program on Asmara Project, Eritrea

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2011) - Sunridge Gold Corp. (TSX VENTURE:SGC) announces that it has started another phase of exploration on the Company's 100% owned Asmara Project in Eritrea. The exploration ground of the Asmara Project covers 600 square kilometers which is a volcanogenic-massive-sulphide (VMS) district with three copper/zinc/gold/silver VMS deposits and one structurally controlled gold deposit already discovered and currently being developed by Sunridge. The property remains only partially explored and has several highly prospective exploration targets with the potential for the discovery of additional deposits. In addition, there are structurally controlled gold and remobilized copper/gold targets on the Asmara Project which will also be explored. Sunridge has recently started mapping, sampling and other field work on many of the targets in anticipation of a 10,000 meters exploration drilling program to start in August 2011.

VMS Targets

Many of the targets along the known VMS trends such as Dairo Paulos, Kodadu, Torat, Adi Mussa, Adi Lamza, and Shiketi (possible extension to the Debarwa Deposit) are considered to be VMS-style targets similar to the known deposits on the Asmara Project with similar geophysical signatures and in some cases coincident with elevated copper, gold and zinc values in soil and rock samples.

Gold Targets

Exploration will be conducted on several structurally controlled gold targets similar to the Company's Gupo Gold deposit that hosts 189,000 ounces of gold at an average of 2.99 g/t gold. (see details below)

Remobilized Copper/Gold Targets

In addition, prior to further drilling, detailed geological mapping is underway at the Adi Rassi prospect which is considered to be a remobilized copper/gold prospect where previous drilling has returned values such as 1.32 g/t gold and 0.84 % copper over 84 meters.

On May 12, 2011, Sunridge announced that Antofagasta Minerals S.A. had terminated the option agreement on the exploration ground of the Asmara Project after spending approximately $2.2 million exploring for large porphyry-style copper deposits. The termination of this option agreement between Sunridge and Antofagasta means that Sunridge is once again 100% owner of all the exploration ground in addition to the four deposits that currently make up the 600 square kilometer Asmara Project.

Gupo Gold Inferred Resource

Inferred resource estimates for Gupo (then referred to as Adi Nefas Doop) from the report titled "Independent Consulting Geologists Technical Report - Asmara Project" prepared by Blackburn, G. and Chisholm, R., dated April 2004 (which may be viewed under Sunridge's profile on SEDAR at is summarized as follows:

Gupo Gold - Inferred Resources
TonnesAverage Gold Grade g/tOunces of Gold

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 $18 million in cash. Sunridge 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 Greg Davis at the number listed below. All of the above mentioned technical reports are filed on the Company's profile at

Qualified Person

Michael J. Hopley the President and Chief Executive Officer of Sunridge is the Qualified Person for Sunridge and he is the person responsible for preparation of the technical information contained in this news release.


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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