Sunrise Resources PLC Regulatory News (SRES)

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

CS PROJECT UPDATE - CALTRANS AUTHORIZED LIST

Sunrise Resources plc is pleased to advise that it has applied to the California Department of Transport ("Caltrans") for conditional approval of CS natural pozzolan for use in California State infrastructure projects.

Caltrans is the Government body responsible for the award of State funded infrastructure construction projects in California. Caltrans Standard Specifications for concrete mandate the use of supplementary cementitious materials ("SCMs") such as natural pozzolan in order to improve the durability and sustainability of its concrete structures. Further information of the role of natural pozzolan in sustainable development can be found in the Company's news release of 9 May 2022.

In order for a construction material to be used in a Caltrans project it must be officially approved and listed on Caltrans's Authorized Materials List. In order to be listed, a material must be commercially available with 6 months test data from production. However, it has recently become possible for new sources of construction materials to be approved on a conditional basis and, in the case of natural pozzolan, it must meet the specifications for 1AASHTO M295 and 2ASTM C1567. Caltrans will test the CS natural pozzolan against these specifications. The Company is confident that its CS natural pozzolan meets these specifications based on its own independent testing under these standards.

Commenting today, Executive Chairman Patrick Cheetham said: "We are targeting the California markets with our CS natural pozzolan and, as Caltrans projects account for a significant percentage of SCM and concrete consumption in California, acceptance of CS Pozzolan onto the Authorized Materials List is an important step to maximise futures sales of our natural pozzolan."

Whilst coal power station fly ash has historically been the most available SCM, Caltrans has long recognised the potential for the fly ash shortages we see today in the western US. In its 2016 report "Caltrans Fly Ash Current and Future Supply it started that "One of the primary obstacles to replacing fly ash is the large volume that would be required to fill a supply shortfall. Based on expert industry representatives and data available from USGS (United States Geological Survey), natural pozzolans have the greatest single potential supply volume." 

Further information:

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Notes:

1. AASHTO is The American Association of State Highway and Transportation Officials, a standards setting body which publishes specifications, test protocols, and guidelines that are used in highway design and construction throughout the United States

2. ASTM International, formerly known as American Society for Testing and Materials, is an international standards organization that develops and publishes voluntary consensus technical standards for a wide range of materials, products, systems, and services.

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