SOURCE: Sidon International Resources Corporation

December 17, 2010 11:47 ET

Update on Sidon's Handeni Acquisition, Tanzania

EVERETT, U.S.A.--(Marketwire - December 17, 2010) -

Sidon International Resources Corporation / Update on Sidon's Handeni Acquisition, Tanzania Processed and transmitted by Thomson Reuters. The issuer is solely responsible for the content of this announcement.

Vancouver, BC. December 17, 2010

NEWS RELEASE: Update on Sidon's Handeni Acquisition, Tanzania


Sidon International Resources Corp. ("Sidon" or "the Company") wishes to update its shareholders regarding Sidon's acquisition in the Handeni district of the United Republic of Tanzania. The property consists of approximately 50.5 square kilometres northeast of Canaco's Magambazi property and immediately north of Douglas Lake Minerals Ltd.'s acquisition which borders Canaco's property.

Sidon had been in negotiations to acquire properties that it felt held significant potential both in the Morogoro region of Tanzania where drilling is currently underway on Sidon's MEG property, and in the Handeni district where Canaco has experienced such success. Since the prospective Handeni property had not been issued the necessary license which grants the owner all the rights to explore and develop the property, Sidon entered into an option agreement for a parcel of land adjacent to its MEG property in Morogoro, as announced Dec. 9, 2010.

When the Handeni property was granted the necessary license to carry out exploration, Sidon's Board of Directors evaluated the Company's financial situation and decided it could not pursue both properties at this time. For this reason, the Company decided to pursue the Handeni property instead of the parcel of land adjacent to its ongoing MEG project. "It became clear to us that, at this time, acquiring the Handeni property in such a promising area of Tanzania was in the best interest of the Company and our shareholders," said Sidon's President, Kamal Alawas. "Our exploration programs on Sidon's MEG property are achieving even better than anticipated results, and we are pleased the Company will soon be able to also explore and develop such a promising new acquisition."

Sidon will have a new website available in the very near future for investors to obtain up-to-date information on the Company's activities is Tanzania. The URL is Drilling continues on the MEG property and placer testing results will be released as soon as they are available.

The content of this release has been reviewed and approved by Laurence Stephenson, P.Geo., a qualified person as defined by National Instrument 43-101.

Sidon International Resources is a junior exploration company currently focussing on the exploration and development of its hard rock and placer gold properties in Tanzania.

Kamal Alawas
President and Director

Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;

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Source: Sidon International Resources Corporation via Thomson Reuters ONE


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