Sunrise Res Regulatory News (SRES)

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

Baker's Gold Project - Scheduled Drill Programme

The Company is pleased to advise that drilling is now scheduled to start at its Baker's Gold Project in Western Australia.

Highlights:

· Drill programme to commence on or around 7 May.

· Programme will comprise 5 holes for a total of 600m of drilling.

o Three 100m deep holes to test the DLR4 gold geochemical anomaly.

o One 200m deep hole to test beneath the Dicky Lee gold specimen pit.

o One 100m hole to test an additional area of old mine workings.

Commenting today, Executive Chairman Patrick Cheetham said: "We are pleased to have secured a drilling contractor for this work which has been a long time in planning but now possible following the completion of a favourable Aboriginal heritage clearance survey. The programme is expected to last for 7 -10 days. " Assay results are expected approximately 6 weeks after completion of the programme."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 

Further information:

Background Information

The Baker's Gold Project is located 25km south east of Meekatharra in the Murchison Goldfield of Western Australia. It lies on the eastern limb of the Meekatharra Greenstone Belt which has yielded over 5.5 million ounces of gold and contains a number of present and past producing gold mines.

The Baker's Project area licence has seen various rounds of historical exploration including separate programmes of wide-spaced percussion drilling.

Sunrise carried out mapping and sampling and three rounds of soil sampling at Baker's between 2014 and 2018 generating a number of gold-in-soil anomalies which, together with historical exploration results, have defined the three targets now scheduled for drill testing.

The Dicky Lee Target is an area of small-scale open pit mining with pit dimensions of approximately 60m by 40m and depths of up to 10m. The pit was excavated in the 1980s following the discovery of specimen quality gold-quartz nuggets, by metal detectorists both at surface and in-situ. The excavated material was not processed for gold extraction by any conventional method but was reportedly scanned for further gold nuggets using hand-held metal detectors. It is reported that 106 ounces of gold was recovered by this crude method from 4,050 tonnes of material excavated but the tonnage of material excavated is well in excess of this amount and thus the total amount of gold recovered is unknown. Based on sampling of excavated dump material the estimated grade of mined material is at least 1.3 grammes/tonne gold.

The gold at Dicky Lee occurs in a quartz vein stockwork in dolerite. This style of mineralisation presents an attractive target for gold exploration. An example is the Boorara deposit now being defined by MacPhersons Resources.

Sunrise has carried out mapping and sampling of the pit area. Thirty chip and grab samples taken from the pit contained detectable gold with values up to 32.1 grammes/tonne (g/t) gold and averaging 1.7 g/t gold. Individual veins are generally narrow (sub-metre and sub-decimetre widths) and so grades being reported cannot be considered representative of the deposit as a whole and no attempt was made to systematically evaluate the grade of the hydrothermally altered host dolerite although the few samples taken assayed up to 1.4 g/t gold.

Only two historical drill holes have tested the pit area, and both intersected very wide intervals of low-grade gold mineralisation (69m grading 0.2g/t gold and 80m grading 0.2 g/t gold including 1m grading 5.7 g/t gold from 5m down hole).

The 200m deep hole now proposed for drilling will test at deeper levels beneath the Dicky Lee pit.

The DLR4 Target lies some 750m south west of the Dicky Lee pit and is named after the number of a shallow historic drill hole DLR4 which was completed by Australian Consolidated Minerals in 1987. This hole averaged 0.55 g/t gold over the 22m interval from 2m down hole depth to the end of hole at 24m and the final 2m sample assayed 1.17 g/t gold. No follow up drilling was carried out.

Soil sampling carried out by Sunrise defined a 500m long gold-in-soil anomaly surrounding hole DLR4. Three 100m deep angled RC drill holes are now planned to test beneath the gold soil anomaly and the historical drill intersection in DRL4.

The Third Target is a narrow zone of prospector scale working where sampling by the Company has returned high gold values. This line of workings will be tested by a single drill hole.

Notes:

1. Forward Looking Statements:

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely unduly on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

2. Covid-19:

Mineral exploration activities are currently progressing largely as normal and Australia is largely free of Covid-19 infections but flare-ups do occur and can result in snap lockdowns that have the potential to negatively affect and delay the Company's plans.

3. Qualified Person Information:

The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.

Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com