Sunridge Gold Corp.

Sunridge Gold Corp.

February 22, 2008 08:00 ET

Sunridge Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2008) - Sunridge Gold Corp. (TSX VENTURE:SGC) is pleased to announce that it proposes to raise up to $5.0 million by way of a non-brokered private placement through the issuance of up to 4.0 million units at a price of $1.25 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 $1.60 for a period of two years from closing the private placement. In the event that the trading price of the common shares of the Company closes at or above $2.00 per share for 20 consecutive trading 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 notice is given to the holders of the warrants of the accelerated expiry date. 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 including a planned scoping study for the Emba Derho Deposit, ongoing feasibility and exploration drilling, potential property acquisitions and for general corporate purposes.

Sunridge Gold Corp. is a mineral exploration company focused on the acquisition, exploration, discovery and development of precious and base metal projects. The Company has 51.6 million common shares outstanding and 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, President and Chief Executive Officer

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

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