Sunridge Gold Corp.

Sunridge Gold Corp.

September 24, 2010 14:05 ET

Sunridge Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2010) - Sunridge Gold Corp. (TSX VENTURE:SGC) is pleased to announce that it proposes to raise up to $10 million by way of a non-brokered private placement through the issuance of up to 20.0 million units at a price of $0.50 per unit (the "Unit"). The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the Units for any reason. Each Unit will consist of one common share and one-half of one common share purchase warrant (the "Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.75 for a period of two years from closing the private placement. The private placement and any modifications to it are subject to compliance with applicable securities laws and to receipt of regulatory approval. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.

The proceeds of the financing will be used to fund the Company's work programs at the Asmara Project in Eritrea and for general corporate purposes.


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 has approximately 76 million shares outstanding and approximately $4.4 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.

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