Sunridge Gold Corp. (SGC-TSX-V) is an exploration and development company conducting final and pre-feasibility studies on four deposits within the Asmara Project, Eritrea in East Africa. The Asmara Project encompasses a district of base and precious metals volcano-genic massive sulphide ("VMS") deposits as well as near surface gold mineralization. Sunridge has drilled over 200,000 metres since 2003 and has defined four separate copper, zinc, gold and silver mineral resources. A feasibility study for the high grade Debarwa copper, gold and zinc deposit is scheduled for completion in the first quarter of 2012 and a pre-feasibility study on the Asmara North Deposits, Emba Derho, Adi Nefas and Gupo Gold is scheduled for completion by the end of March 2012.

The four deposits have total indicated 43-101-resources containing:

• 1.28 billion pounds of copper,
• 2.5 billion pounds of zinc,
• 1.05 million ounces of gold, and
• 31.2 million ounces of silver

Highlights

• Four NI 43-101 approved deposits defined to date:
  • Emba Derho VMS Deposit: copper-zinc-gold, potential large open pit mine. Positive Preliminary Economic Assessment announced June 4, 2009
  • Debarwa VMS Deposit: copper-gold-zinc deposit, possible low cost, high grade copper and gold operation.
  • Adi Nefas VMS Deposit: zinc-copper-gold, located 6 km from Emba Derho.
  • Gupo Gold: shallow gold deposit, possible low cost operation.
• Total indicated 43-101-resources to date contained in Four deposits:
  • 1.28 billion pounds. of copper,
  • 2.5 billion pounds of zinc,
  • 955,000 ounces of gold, and
  • 31.2 million ounces of silver
• Major exploration upside -- geologically rich area. Several high priority drill ready VMS targets.
• Excellent infrastructure -- power, roads, railway, airport etc
• Strong government support

Location and History

The Asmara Project approximately 700 square kilometres in central Eritrea, located immediately to the north, south and west of the capital city of Asmara. The infrastructure is excellent with roads, power, water and airports servicing the project area.

Sunridge Gold entered into a joint venture agreement in 2003 and has now earned 100% of the project. The Eritrean government has a 10% free carried interest.

Sunridge has drilled over 130,000 metres on the Asmara project since acquiring the project.

Eritrea

Eritrea is a country with immense geological potential with several high-grade Volcanogenic massive sulphide (VMS) discoveries being made in the past five years including several within Sunridge Gold's Asmara Project.

The country has been run by a transitional government since independence on May 24, 1993. There are approximately four million people in the country whom depend largely on subsistence agriculture. The mining code is based on the mining code of the Northern Territories of Australia with a royalty of 5% on precious metal, 3% on base metals and tax rate of 35%.

Eritrea has a moderate climate and excellent infrastructure for Sunridge Gold's project with roads, railroads, international airports and a port 120 km away.

Development Projects

Emba Derho (VMS Deposit)
Approx 62.5 m/tonnes containing 990 m lbs Cu, 1.9 billion lbs Zn, 580,000 ozs Au & 20.8 m/ozs Ag. Positive PEA completed June 4, 2009

Debarwa (VMS Deposit)
4.4 m/tonnes including copper zone with 1.3 m/tonnes 5.36% Cu, 1.54 g/t Au, 33.87 g/t Ag. Open for expansion in several directions.

Adi Nefas (VMS Deposit)
2.7 m/tonnes grading 8.38% Zn, 2.85 g/t Au, 1.39 % Cu,
& 99.30 g/t Ag. Potential to add to Emba Derho future mine plan

Gupo (Gold Deposit)
1,965,000 tonnes grading 2.99 g/t Au totaling 189,000 ounces gold.

Exploration Targets

Recent exploration activities have been focused on advancing several new high priority exploration targets to the drill ready stage. Exploration work has consisted of geophysical and geochemical surveys in conjunction with detailed geological mapping and sampling. These techniques, particularly the use of ground gravity surveys, have historically shown success in the Company's search for volcanogenic massive sulphide (VMS) deposits on the Asmara Project and led to the discovery of the Emba Derho deposit in early 2007.

This recent exploration work has outlined a number of strong gravity anomalies -- several of which are significantly larger and stronger than the Emba Derho anomaly. Some of these gravity anomalies also have coincident electromagnetic (EM) and soil geochemical anomalies, and are located adjacent to known gossans -- the weathered surface expression of VMS-style mineralization. 

Madagascar



The Property

Besakoa -- VMS Copper/Zinc/Gold

The Besakoa property covers approximately 60 square kilometres in south central Madagascar and can be accessed by road from the port city of Toliara.


On September 19, 2012 Sunridge announced assay results from the 5,000 metre diamond drill program on the Besakoa project in Madagascar. The drill program tested a number of volcanogenic-massive-sulphide style targets which were defined using geophysical and soil geochemical surveys, geological and structural mapping and gossan prospecting. Results were generally disappointing although several of the holes intercepted semi massive sulphide mineralization and had anomalous base and precious metal values.
For full details see NEws Rlease dated Sept. 19, 2011

The Agreement:

Sunridge can earn 100% of the project. Sunridge has earned an initial 50% interest by spending US$2,000,000 by September 2011 and issuing 500,000 shares to the owners, Majescor Resources Inc. Upon acquiring 50% Sunridge will have the right to earn an additional 25% by spending an additional $2,500,000 by the end of the third year and by issuing Majescor an additional 500,000 common shares of Sunridge.

Upon acquiring 75% Sunridge will have a one year period in which to elect to acquire the remaining 25% interest in the Property at the fair value determined at that time by an independent valuation or as agreed to between the parties in cash, or at the election of Sunridge, in the equivalent value of Sunridge common shares subject to regulatory approval. 

Michael Hopley - President, Director and CEO

Michael is the President and Chief Executive Officer of Sunridge Gold. He is a key member of the management team and has over 30 years of international experience as a geologist and exploration manager for resource companies in the precious metals and base metal sector with companies such as Gold Fields Mining, Bema Gold Corp. and Tournigan Energy. He was part of the team that discovered the large Refugio and Cerro Casale gold and gold/copper deposits in Chile. For the past 15 years Michael has managed a number of publically traded junior resource companies and held a number of executive and board positions with companies conducting exploration in various parts of the world.

Greg Davis - Vice-President of Business Development

Greg is the Vice-President of Business Development for Sunridge Gold Corp. He joined the team in September 2007 and has worked in junior mining exploration and development for the past ten years. Greg was the Vice President of Business Development for Crosshair Exploration and Mining, a successful junior uranium exploration company. Prior to that, Greg was a Project Manager and Senior Geological Technician for Nevsun Resources.

Scott Ansell - Vice President Project Development

Scott worked with AMEC as Director of Studies and Manager of Consulting, Geology and Mining. He has previous experience with Nevsun in Eritrea as the Bisha Mine Project Manager

Craig A. Angus - Chairman

Craig was the founder of Nevsun Resources and its President and CEO for over 15 years and one of the founders of Sunridge Gold. He brings a wide range of expertise to the team ranging from the evaluation of the geological merits of projects to raising funds. He is widely connected throughout the mining industry.

David Daoud - Exploration Manager

David is the Exploration Manager for Sunridge Gold. He joined the team in June 2005 after working on Nevsun's Bisha VMS discovery in Eritrea for the previous 2 years. His expertise on VMS deposits and understanding of working in Eritrea contributes strongly to the success of the Company and its shareholders.

Doris Meyer - CFO, Director and Corporate Secretary

Doris is a Member of the Association of the Certified General Accountants of British Columbia and Canada. She was Vice President, Finance of Queenstake Resources Ltd. from 1985 to 2003 and Corporate Secretary until 2004 where she led negotiations of joint venture and purchase agreements, equity financings, debt financings and capital purchases.

Dr. Neil O'Brien - Director

Dr. O'Brien is a Senior Vice-President of Exploration and Business Development for Lundin Mining. He has extensive expertise in early to advanced stage exploration for zinc, copper and gold which will contribute significantly to the further development of Sunridge's Asmara Project in Eritrea

Steve Gatley - Director

Mr. Gatley is a mining engineer with over 25 years experience in the base metals field. He has considerable experience in the management of mine operations and mine development projects, and international experience in Europe, Africa and South America. In his current role with Lundin Mining, Mr. Gatley provides corporate level technical support and project evaluation services. Mr. Gatley is a director of Lundin Mining UK Ltd. and Union Resources Ltd.

Mark Corra - Director

Mark Corra has over 25 years of finance and accounting experience in the mining industry. He spent 17 years as the Vice President of Finance helping build Bema Gold Corporation and is now the Senior VP Finance and CFO of B2 Gold Corp. He is a Certified Management Accountant.

Eric Edwards - Director

Since 1996, Mr. Edwards has served as Chief Executive or Chief Financial Officer for a number of publicly traded gold companies. Mr. Edwards has completed acquisitions, divestitures, mergers, equity placements, project and corporate debt facilities. Mr. Edwards has had over 25 years experience in the gold mining sector in positions of increasing responsibility in operations, business development and corporate finance.

Tue Jan 31, 2012
    
Symbol:                            SGC/TSX.V
Shares outstanding:           117,472,701
Options:                           11,132,500
Warrants:                          30,394,264
         
Fully Diluted Shares:          158,999,465