Sunridge Gold Corp. (SGC-TSX-V) is an exploration and development company that completed a positive feasibility study for the high grade Debarwa copper, gold and zinc deposit on May 14, 2012 and a positive pre-feasibility study on all four deposits of the Asmara Project, Emba Derho, Adi Nefas, Debarwa and Gupo Gold on May 2, 2012 showing a Base Case NPV of $555 million and IRR of 27% (10% discount rate). 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 deposits which have total combined Proven and Probable reserves of 57.3 million tonnes which over the LOM will produce: 804 million pounds (365,000 tonnes) of copper, 1.79 billion pounds (812,000 tonnes) of zinc, 415,000 ounces of gold, 11 million ounces of silver Management: Sunridge is managed by an experienced team with a successful track record of discovery and development of precious and base metals projects with companies such as Bema Gold and Nevsun Resources.

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Sunridge VP Greg Davis
...on Eritrea assays of 3.27 g/t gold and 4.21% copper over 14.4m
~ By Ted Niles - May 2, 2011
“We’ve been in Eritrea since 2003. We’ve drilled our fairly steady news flow of drill results.
over 200,000 metres and spent about $35 mil-
lion—most of that on drilling. We’ve defined four “All the northern deposits are in pre-feasibility.
deposits to date. Debarwa—where the results There’s overlap too with Debarwa. We’re doing
came from yesterday—has the extremely high- trade-off studies and looking at building a central
grade copper deposit, where there’s a zone that plant at Emba Derho. So we’ll have updated re-
averages 18% to 20% copper. The rest of the source calculations by the end of the year, then a
deposit is quite rich as well; there’s the oxide-gold full pre-feasibility probably in January 2012.
cap, and the rest is supergene copper averag-
ing 5.36%. The primary zone, which is open at “The earliest production would be at Debarwa. If
depth, averages 2.5% copper and 3.25% zinc. we complete the feasibility in November, we’ll do
So: extremely high grades, and we are currently in an environmental assessment study and apply for
feasibility. As part of that feasibility, we’ll be updat- mining permits early in 2012—so production could
ing the resource calculation towards the end of be as early as late 2012 or early 2013.
May, and the feasibility itself will be complete in
November 2011. “The current unrest in Africa isn’t effecting our
operations at all. We conducted an analyst’s tour
“What to say about the recent results? They’re about two weeks ago and, of course, that was one
amazing. These are some of the highest copper of the questions. When you’re in Eritrea it seems
grades in the world. They’ll be plugged into the like the entire country is on the same page and
feasibility study now, and I think we’ll see a nice moving in the same direction. There is no unrest
bump in the resource estimate by the end of the there. It’s a delightful place to visit. Eritrea is com-
month. pletely different from Egypt, Tunisia and Libya.
There’s no rich ruling class, no offshore accounts,
“Debarwa is a beautiful project for a small Ca- mansions, etc. The president himself lives modest-
nadian junior to fast track into production. But I ly and, I feel, truly has the support of the people.
always emphasize that the real long-term value is
in the northern deposits, which are comprised of “We’re just starting to hit that fulcrum now where
our large Emba Derho Deposit—a 62.5-million- things are really moving fast. We’re proceeding on
tonne copper-zinc-gold VMS deposit, and, six all fronts: on development, on our feasibility stud-
kilometres away, there is an extremely high-grade ies, and there’s still exploration upside. One other
zinc-copper-gold deposit called Adi Nevas. Also, thing to note is that we have another project in
six kilometres from Emba Derho is the Gupo Gold Madagascar, and we’ll be announcing the first drill
Deposit. We’re drilling on all three of those right program there—VMS targets again—probably in
now, with 8,500 metres being drilled at Emba about 10 days to two weeks time.”
Derho. The first results should be in in about 10
days to two weeks. Once that starts, we’ll continue
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