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16 Dec 2019 07:00
SUNRISE RESOURCES PLC
("Sunrise" or "the Company")
CS PROJECT - WATER RIGHTS
Sunrise Resources plc, the AIM-traded company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA is pleased to advise that it has signed an agreement with Liberty Moly LLC ("Liberty Moly") providing the Company with a lease of water rights to be used in the development of its CS Pozzolan-Perlite Project ("the Project").
The lease covers an initial 5-year period renewable for a further five one-year periods and covers enough water for the Project's annual projected requirements at full production rates.
The leased water rights are currently attached to the past-producing Liberty molybdenum mine some 18 miles west of, and in the same water basin as, the Project. Liberty Moly is a subsidiary of General Moly, Inc.
The Company, with assistance from Liberty Moly, will now apply to the Nevada Division of Water Resources for permits to enable extraction of water at the Company's designated well-site which is included in existing Right of Way applications made by the Company and which are being determined by the Bureau of Land Management alongside the Company's mine permit application.
Commenting today Sunrise Executive Chairman Patrick Cheetham said: "This is another tick in the box for project development. We need water for dust control and so are delighted to have secured this water lease."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Further information:
Sunrise Resources plc Patrick Cheetham, Executive Chairman | Tel: +44 (0)1625 838 884 |
Beaumont Cornish Limited Nominated Adviser and Joint Broker James Biddle/Roland Cornish | Tel: +44 (0)207 628 3396 |
Peterhouse Capital Limited Joint Broker Lucy Williams/Duncan Vasey | Tel: +44 (0)207 469 0930 |
Note:
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.
Shares in the Company trade on AIM. EPIC: "SRES". Website: www.sunriseresourcesplc.com
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