Last checked at 14 Feb 2017 08:24
14 February 2017
Sunrise Resources Plc
County Line Diatomite Project
Sunrise Resources plc (LON: SRES) ("Sunrise" or the "Company") the AIM quoted diversified mineral exploration and development company wishes to advise that EP Minerals, LLC has given notice to the Company, terminating its lease of the Company's County Line Diatomite claims in Nevada, USA.
This notice was unexpected, given that EP Minerals, LLC recently expanded its work programme and financial bonding under its permit with the US Bureau of Land Management. Under the terms of the Lease Agreement EP Minerals, LLC is now required to provide the Company with the results of its exploration on the property.
Patrick Cheetham, Executive Chairman of Sunrise Resources plc commented "We are, of course, sorry to see EP Minerals withdraw from the project. However, their permitted work programmes have focussed on a specific area of the claims and, based on our own testwork in other parts of the claim group and also the results of tests carried out by another previously interested party, we firmly believe there is an on-going opportunity for the production of high value filter products from County Line diatomite. We will now explore alternative ways to commercialise this opportunity alongside the other projects in our industrial mineral project portfolio which continue to produce good results."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: | +44 (0)1625 838 884 |
Northland Capital Partners Limited Nominated Adviser & Broker Edward Hutton/David Hignell John Howes/Rob Rees
| Tel: | +44 (0)20 3861 6625
|
Beaufort Securities Limited Joint Broker Jon Belliss | Tel: | +44 (0)20 7382 8300 |
Notes to Editors:
About Sunrise Resources plc
Sunrise Resources plc is an AIM-traded diversified mineral exploration and development company. The Company's objective is to develop profitable industrial minerals mining operations to sustain the Company's wider mineral exploration efforts and create value for shareholders through the discovery of world-class precious metal and diamond deposits.
The Company holds a portfolio of industrial minerals projects in Nevada, USA including deposits of diatomite, natural pozzolan and high-grade limestone. It is also exploring for silver, gold, and diamonds in Nevada and Western Australia.
Shares in the Company trade on AIM. EPIC: "SRES"
Website: www.sunriseresourcesplc.com