Final Results

Sunrise Diamonds PLC
14 January 2008


                              SUNRISE DIAMONDs PLC


       Announcement of audited Financial statements FOR THE PERIOD ENDED

                               30 SEPTEMBER 2007


Chairman's Statement


I am pleased to announce the audited Financial Statements for the year ended 30
September 2007.


The Company has completed its second full year of exploration in Finland's
Karelian Craton and significant progress can be reported. The diamond
credentials of our target areas are exemplified by the world-class Lomonosov
diamond mining complex being developed by Alrosa on the Russian side of the
Karelian Craton as well as by our own new kimberlite discoveries in Finland.


Through joint venture agreements and our own exploration success we have
developed our project portfolio to include advance projects where the potential
of a number of diamondiferous kimberlites is being evaluated and a large number
of earlier stage projects having the potential for new diamond discoveries. The
discovery process is enhanced by the Company's agreement with BHP Billiton, an
option holder in the Company, which gives us exclusive rights to BHP Billiton's
diamond exploration database for Finland. This includes valuable countrywide
geochemical and geophysical databases which are now being utilised.


Nordic Diamonds JV

In 2006 we acquired the right to earn a joint venture interest from Canada's
Nordic Diamonds Ltd ('Nordic') in a parcel of claims covering the majority of
the 20 kimberlites that were discovered by Ashton Mining and its partners in the
1990's in the Kaavi-Kuopio area of south central Finland.


Three of the kimberlite bodies have been shown by bulk sampling to have grades
between 15 and 26 carats per hundred tonnes. Whilst individually these pipes may
be too small for development, they may have commercial potential to provide feed
for a central processing plant and so work in 2007 has focused on the evaluation
of other known diamondiferous kimberlites which could help justify such a
development. Three further kimberlites were drill tested in the autumn of 2007
and samples are currently being evaluated for their diamond content with results
eagerly awaited.

The Nordic Diamonds JV also includes numerous untested diamond targets - for
example, Target 295 where we have narrowed the search area for kimberlite
fragments and microdiamond discovered last year, where the source remains
tantalisingly close but, so far, elusive.


Regional Exploration

Our regional exploration activity has continued at a fast pace with work having
taken place during the year on numerous target areas, mostly generated from the
BHP Billiton geochemical database where kimberlite indicator mineral anomalies
have been found in the past but not followed-up.


On a number of these targets positive confirmation of anomalies has been made
during 2007 and follow up work is now in progress. A particular focus has been
Target 298 where a large number of diamond bearing boulders have been discovered
during the year and where the hunt is continuing for the source.


Significant progress has also been made with the BHP Billiton geophysical
database where the Company has been applying interpretation techniques and
computing power not available when the data was collected and last interpreted.
As a result, numerous targets have been generated for drill testing.


Diamond Market

Our exploration is taking place against a background of strong diamond market
fundamentals. The trend towards a shortage of rough diamonds continued through
the year as world diamond production levelled off and demand increased. This
market imbalance is expected to see diamond prices for all sizes and qualities
continue their longer-term upward trend.


Results for the Period

The Group is reporting a loss of £212,621 for the year ending 30 September 2007
(2006: £181,154 as restated). This comprises interest receipts of £18,961,
administration expenses of £191,335 and reconnaissance costs of £43,305.


In Conclusion

Finland is highly prospective for diamonds, politically stable and relatively
cheap to explore and few junior companies with our relatively low levels of
funding have such active diamond exploration programmes. The Company has
scheduled a busy winter drilling programme and I look forward to reporting
further progress during 2008 towards our objective of discovering economic
diamond deposits.



Patrick L Cheetham
Executive Chairman
14 January 2008



Further Information:


Patrick Cheetham, Sunrise Diamonds plc. Tel: [phone].

Ron Marshman/John Greenhalgh, City of London PR Ltd. Tel: [phone]

Brett Miller/Roxane Marffy, Ruegg & Co. Limited. Tel: [phone]

Web-site: www.sunrisediamonds.com



                                                            Sunrise Diamonds plc
                                            Consolidated Profit and Loss Account
                                          for the year ended 30th September 2007



                                                                        Group &
                                                                        Company
                                                         Group      As restated
                                                    Year ended       Year ended
                                                  30 September     30 September
                                                          2007             2006
                                                         
                                                             £                £
                                                             
Exploration costs                                       43,305           22,213
Administrative expenses                                191,335          173,195

Operating loss                                        (234,640)        (195,408)

Interest receivable                                     18,961           14,254

Loss on ordinary activities before taxation           (215,679)        (181,154)

Tax on loss on ordinary activities                           -                -

Loss on ordinary activities after tax                 (215,679)        (181,154)

Minority interests                                       3,058                -

Loss for the year                                     (212,621)        (181,154)

Loss per share - basic and diluted (pence)               (0.18)           (0.21)


All amounts relate to continuing activities.


There are no recognised gains and losses for the year other than those included
in the profit and loss account.


                                                            Sunrise Diamonds plc
                                                                  Balance Sheets
                                                          at 30th September 2007



                                                                        Group &
                                                Group       Company     Company
                                                                    As restated
                                                 2007          2007        2006
                                                    £             £           £
Fixed assets
Intangible assets                             986,355       986,355     632,806
Investments                                         -            64           -
                                              986,355       986,419     632,806

Current assets

Debtors                                       309,042       324,386      47,691
Cash at bank and in hand                      455,930       455,930     384,190
                                              764,972       780,316     431,881

Creditors: amounts falling due within one    (206,019)     (190,856)   (100,315)
year

Net current assets                            558,953       589,460     331,566

Net assets                                  1,545,308     1,575,879     964,372

Capital and reserves

Called up share capital                       138,867       138,867      97,655
Share premium account                       1,959,723     1,959,723   1,217,562
Other Reserves                                 82,636        82,636      69,401
Profit and loss account                      (632,867)     (605,347)   (420,246)

Shareholders' funds                         1,548,359     1,575,879     964,372

Equity minority interests                       3,051             -           -

Total Capital Employed                      1,545,308     1,575,879     964,372



                                                            Sunrise Diamonds plc
                                                Consolidated Cash Flow Statement
                                                for the year 30th September 2007


                                                                         Group &
                                                              Group      Company
                                                                             As
                                                                        restated
                                                               2007       2006

                                                                  £          £

Net cash outflow from operating activities                  (127,052)  (178,142)


Returns on investment and servicing of finance
Interest received                                             18,961     14,254


Net cash outflow from operating activities after returns    (108,091)  (163,888)
on investments and servicing of finance


Capital expenditure and financial investment

Purchase of intangible fixed assets                         (353,549)  (374,797)


Net cash outflow from capital expenditure and financial     (353,549)  (374,797)
investment


Financing

Issue of share capital (net of expenses)                     533,373    533,050

Issue of shares in subsidiary to minority interests                7          -


Net cash inflow from financing                               533,380    533,050


Increase/(Decrease) in cash                                   71,740    (5,635)



Notes:


1. Publication of Non-Statutory Accounts


The financial information set out in this announcement does not constitute the
Company's Statutory Accounts for the period ended 30 September 2007 or 2006. The
financial information for 2006 is derived from the Statutory Accounts for 2006
as amended by the adoption of FRS20. The financial information set out in this
statement relating to the period ended 30 September 2006 does not constitute
statutory accounts for that period. Full audited accounts in respect of that
financial period prior to the adoption of FRS20 have been delivered to the
Registrar of Companies.


The Statutory Accounts for 2007 will be delivered to the Registrar of Companies
following the Company's Annual General Meeting. The auditors have reported on
the 2006 and 2007 accounts. They did contain a statement under Section 237(2) or
(3) of the Companies Act 1985 and received an unqualified audit opinion. However
there was an emphasis of matter in relation to the availability of project
finance. In common with many exploration companies, the Company raises finance
for its exploration and appraisal activities in discrete tranches. Further
funding is raised as and when required. When any of the Group's projects
progress to the development stage, specific financing will be required.


The Directors are satisfied that the Group has adequate resources to continue to
operate for the foreseeable future. For this reason they continue to adopt the
'going concern' basis for preparing the accounts.


Prior year adjustments
The Company has applied the requirements of FRS20 (share based payments) in 
accordance with the transitional provisions to all relevant equity instruments 
granted after 7 November 2002 and unvested at 1 October 2005.

The Company issues share based payments to directors and to employees of the 
Company providing its management services (Tertiary Minerals plc). All share 
based payments are measured at fair value at the date of grant and expensed on a 
straight line basis over any vesting period, based on the Group's estimate of 
shares that will eventually vest. Fair value is measured by use of a model based 
on the Black-Scholes-Merton valuation method. The expected life of the 
instrument used in the model is adjusted, based on the Company's best estimate, 
for the effects of any exercise restrictions and behavioural considerations.

The adoption of FRS20 has resulted in a charge to the Profit & Loss Account of 
£13,235. A prior year adjustment has been made to the financial information set 
out for the year ended 30 September 2006 (£1,945) to apply charges to the 
Profit and Loss Account for share options granted or becoming vested in this 
period.  This has no impact on the net assets of the Company.

In December 2005 the Company issued options as a minor part of the consideration 
for the acquisition of rights to the BHP Billiton diamond exploration database 
for Finland. As the main consideration comprised various reciprocal rights it 
is difficult to isolate and reliably estimate the value of the option 
part-consideration other than by assessing the fair value of these options. 
Consequently the intangible assets have been increased during the year ended 30 
September 2006 and subsequent accounting periods by £16,733.

FRS25 - Financial Instruments

In January 2006 the Company issued 17,777,778 free warrants exercisable at 3.5p
as part of a share placing. The fair value of these warrants is estimated at
£50,723 and this amount has been re-assigned from the Share Premium Reserve to
the Option Reserve and a prior year adjustment has been made accordingly.



+--+---------------------------------------------------+-----------+-----------+
|2.|Loss per share                                     |                         
+--+---------------------------------------------------+-----------+-----------+
|  |                                                   |                        
+--+---------------------------------------------------+-----------+-----------+
|  |Loss per share has been calculated on the loss and the weighted average        
|  |number of shares in issue during the year.                                    
+--+---------------------------------------------------+-----------+-----------+
|  |                                                   |           |    Group &|
|  |                                                   |           |           |
|  |                                                   |           |    Company|
|  |                                                   |           |           |
|  |                                                   |      Group|As restated|
|  |                                                   |           |           |
|  |                                                   |       2007|       2006|
+--+---------------------------------------------------+-----------+-----------+
|  |                                                   |           |           |
+--+---------------------------------------------------+-----------+-----------+
|  |Loss (£)                                           |  (212,621)|  (181,154)|
+--+---------------------------------------------------+-----------+-----------+
|  |Weighted average shares in issue (No.)             |115,389,993| 87,750,156|
+--+---------------------------------------------------+-----------+-----------+
|  |                                                   |           |           |
+--+---------------------------------------------------+-----------+-----------+
|  |Basic and diluted loss per share (pence)           |     (0.18)|     (0.21)|
+--+---------------------------------------------------+-----------+-----------+
                                                                               
                                                                               
The loss attributable to ordinary shareholders and weighted average number of   |
ordinary shares for the purpose of calculating the diluted earnings per ordinary|
share are identical to those used for the basic earnings per ordinary share.    |
This is because the exercise of share warrants would have the effect of reducing|
the loss per ordinary share and is therefore not dilutive under the terms of    |
FRS14.                                                                          |
+--+----------------------------------------------------------------------------+



3.   Reconciliation of movement in shareholders'      Group   Company   Company
     funds                                                                   As
                                                                       restated
                                                       2007      2007      2006
                                                          £         £         £

     Loss for the year                             (212,621) (185,101) (181,154)
     Shares issued during the year                  824,495   824,495   535,075
     Expenses of equity share issues                (41,122)  (41,122)  (2,025)
     FRS20 Share based payments                      13,235    13,235    18,678
     Increase in shareholders' funds                583,987   611,507   370,574

     Opening shareholders' funds                    964,372   964,372   593,798

     Closing shareholders' funds                  1,548,359 1,575,879   964,372



4.   Reconciliation of operating loss to net cash outflow from operating 
     activities
                                                           Group        Company
                                                                    As restated
                                                            2007           2006
                                                               £              £

     Operating loss                                     (234,640)      (195,408)
     Non-cash movement in reserves                        13,235          1,585
     Decrease/(increase) in debtors                      (11,351)         2,317

     Increase in creditors                               105,704         13,004

     Net cash outflow from operating activities         (127,052)      (178,142)




5.   Reconciliation of cash flow to movement in net funds
                                                                   Cash at bank
                                                                    and in hand
                                                                              £

     At 30 September 2007                                               455,930
     At 1 October 2006                                                  384,190

     Decrease in cash in the year                                        71,740

     Change in net funds resulting from cash flows                       71,740

     Movement in net funds in the year                                   71,740
     Net Funds at 1 October 2006                                        384,190

     Net funds at 30 September 2007                                     455,930



6. Dividend


No dividend is proposed



7. Annual Report


The Company's 2007 Annual Report will be published and sent to shareholders in
due course and copies will be available to the public, free of charge, from the
Registered Office of the Company at Sunrise House, Hulley Road, Macclesfield,
Cheshire, SK10 2LP for at least 30 days from the date of publication and will be
downloadable from the Company's website at www.sunrisediamonds.com





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