Sunridge Gold Corp

Published : January 07th, 2010

Increases Size Of Asmara Project, Eritrea By 60%

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Keywords :   Eritrea | Gold | Madagascar | Recovery |
=======================================================================
Re:   Press Release - Wednesday, January 06, 2010
      Sunridge Gold Increases Size Of Asmara Project, Eritrea By 60%
=======================================================================

Sunridge Gold Corp. (SGC/TSX.V) ("Sunridge") is pleased to announce
that the Eritrean government has granted Sunridge extensions to two of
its  exploration licenses that make up the Asmara Project, Eritrea.
These extensions have increased the overall size of the Asmara Project
by approximately sixty percent, from 665 square kilometres to 1062.5
square kilometers.

As can be seen on the map attached to this release the extensions
expand the Sunridge exploration licenses five kilometres to the west
and five kilometres to the east which covers areas where Sunridge staff
believes are continuations of both volcanogenic-massive-sulphide (VMS)
and shear zone gold mineralized trends.

It is estimated that approximately 153 square kilometers of the new
ground are within the area of interest of the Exploration Areas of the
October 2, 2009 exploration and funding agreement with Antofagasta
Minerals S.A. ("Antofagasta").  Antofagasta can fund US$10,000,000 of
exploration work over a 5-year period to earn a 60% interest in the
Exploration Areas of the Asmara Project. The Antofagasta area of
interest excludes the current existing Development Areas including the
Emba Derho, Debarwa, Adi Nefas and Gupo Gold deposits.

Reconnaissance work on these new extensions will commence later this
month.

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 has approximately 76 million shares outstanding and
approximately $8.0 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.

SUNRIDGE GOLD CORP.

"Michael Hopley"

Michael Hopley, President and Chief Executive Officer

For further information contact:

Don Halliday, Executive Vice President
Email:
Tel: 604-899-1505 (direct)
Greg Davis, VP Business Development
Email: 
Tel:  604-688-1263 (direct)

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.

This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements
that are not historical facts and include resource estimates. The
forward-looking statements in this press release are subject to various
risks, uncertainties and other factors that could cause the Company's
actual results or achievements to differ materially from those
expressed in or implied by forward looking statements. These risks,
uncertainties and other factors include, without limitation risks
related to fluctuations in gold prices; uncertainties related to
raising sufficient financing to fund the planned work in a timely
manner and on acceptable terms; changes in planned work resulting from
weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations and realize the perceived
potential of the Company's properties; uncertainties involved in the
interpretation of drilling results and other tests and the estimation
of gold resources; the possibility that required permits may not be
obtained on a timely manner or at all; the possibility that capital and
operating costs may be higher than currently estimated and may preclude
commercial development or render operations uneconomic; the possibility
that the estimated recovery rates may not be achieved; risk of
accidents, equipment breakdowns and labor disputes or other
unanticipated difficulties or interruptions; the possibility of cost
overruns or unanticipated expenses in the work program; and other
factors identified in the Company's  filings with Canadian securities
regulatory authorities. Forward-looking statements are based on the
beliefs, opinions and expectations of the Company's management at the
time they are made, and other than as required by applicable securities
laws, the Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or expectations,
or other circumstances, should change.

=======================================================================
Copyright (c) 2010 SUNRIDGE GOLD CORP. (TSXV-SGC)  All rights reserved.
 For more information visit our website at http://www.sunridgegold.com/
or send mailto:info@sunridgegold.com
=======================================================================
.
Data and Statistics for these countries : Eritrea | Madagascar | All
Gold and Silver Prices for these countries : Eritrea | Madagascar | All

Sunridge Gold Corp

PRODUCER
CODE : SGC.V
ISIN : CA86769Q1028
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Sunridge Gold is a gold producing company based in Canada.

Sunridge Gold produces gold, copper, silver and zinc in Eritrea, develops gold and silver in Eritrea.

Its main asset in production is ASMARA in Eritrea, its main asset in development is DEBARWA in Eritrea and its main exploration property is BESAKOA in Madagascar.

Sunridge Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 18.9 millions as of today (US$ 15.1 millions, € 13.2 millions).

Its stock quote reached its highest recent level on November 07, 2003 at CA$ 6.50, and its lowest recent point on March 20, 2020 at CA$ 0.03.

Sunridge Gold has 209 950 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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