Response to Press Comment & Market Update

RNS Number : 1585P

Sunrise Resources Plc

22 October 2012

 



22 October 2012

SUNRISE RESOURCES PLC

      Response to press comment and market update

Sunrise Resources plc, the AIM-quoted diversified mineral exploration and development specialist ("the Company"), notes press speculation in last Friday's Investors Chronicle Magazine and provides the following update.

The Company expects to be in a position to release news flow to the market this week regarding the preliminary diamond sampling results from the Cue 1 kimberlite outcrop and around the end of this month in respect of the scoping study at the Company's Derryginagh barite project. The results of diamond sampling of the larger drill samples of the Cue 1 kimberlite (a specialist and time consuming task) are expected in about 10 weeks' time. The updates on the Cue project follow on from outcrop sampling carried out in April and from the completion of the first drill programme as announced by the Company on 6 September.

Whilst it awaits the results from which it can determine the facts, the Board, at this juncture, has no reason to believe that these news updates will not be of a positive nature.

The Company would like to reaffirm that the Company's cash position continues to be well managed with the Company presently holding net cash of approximately £620,000. In addition, the Company is run with low overheads and the Directors continue to have every expectation that further funding will be available to the Company when required.  

Further information:

Sunrise Resources plc                                                                               Tel:  [phone]

Patrick Cheetham, Executive Chairman                            

www.sunriseresourcesplc.com

Northland Capital Partners Limited                                                     Tel: [phone]

Gavin Burnell / Edward Hutton

Yellow Jersey PR Limited                                                                        Tel: [phone]

Dominic Barretto                                                          

 

END

 

 

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