Sunrise Res Regulatory News (SRES)

 24 January 2017

SUNRISE RESOURCES PLC

("Sunrise Resources" or "the Company")

New Energy Metals & Minerals Initiative and Related Funding

Sunrise Resources plc (ticker symbol 'SRES'), the AIM-traded diversified mineral exploration and development company ("the Company"), is pleased to announce it has been approached by a group of high net worth investors interested to invest US$75,000 (equivalent) in the identification, review and acquisition of energy metals and minerals projects in Nevada and other Great Basin States in the USA. In particular Uranium, Lithium, Copper, Vanadium and Graphite have been identified as specific commodities of interest based on an initial review of the project opportunities available, the ability to undertake commercially realistic transactions and the Company's internal resources available to identify new opportunities.

The Company is therefore announcing that it has raised £60,580 before expenses from this group of investors through a placing (the "Placing") of 20,580,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") (the "Placing Shares") and a subscription (the "Subscription") of 40,000,000 Ordinary Shares (the "Subscription Shares") both at a price of 0.1 pence per Ordinary Share. The placing and subscription price represents the bid price of the Company's Ordinary Shares at the time that the Placing and Subscription was agreed. The net proceeds will be used at the discretion of the Company for general working capital purposes and for the identification and review of energy metals and minerals opportunities. It is the Company's intention that the funding for the further development of such opportunities will be through joint ventures and working collaborations such that there is no significant further cost to the Company. It will provide details of any such joint arrangements as and when agreed but there is no assurance that new projects will be secured.

Patrick Cheetham, Executive Chairman of Sunrise Resources plc, commented: "I am very pleased to announce this initiative, and that the investors have chosen Sunrise Resources as the gateway to securing new opportunities in energy metals and minerals in the Great Basin States. Sunrise Resources has been working in Nevada for a number of years and has built a significant network of connections and knowledge of new opportunities. We hope to bring this knowledge to bear through the identification and development of new opportunities that could add considerable value for shareholders.

Notably, with the new USA administration looking to expand industrial activity and invest in infrastructure, Sunrise Resources is exceptionally well placed with its diverse precious and industrial metals project portfolio in Nevada. This new venture will, I believe, add to that portfolio which provides AIM investors with a vehicle through which to access high potential metal and mineral opportunities in operationally favourable USA jurisdictions."

Admission to Trading and Total Voting Rights

The issue of the Placing Shares and the Subscription Shares is conditional, inter alia, on their admission to trading on AIM ("Admission"). Application will be made for the Placing Shares and the Subscription Shares to be admitted to trading on AIM and Admission is expected to occur on or around 7 February 2017. The Placing Shares and the Subscription Shares represent approximately 5.1 per cent. of the Company's enlarged issued share capital.

Following Admission, the Company's enlarged issued share capital will comprise 1,192,377,937 Ordinary Shares with one voting right per share. There are no shares held in treasury and the total number of voting rights in the Company is therefore 1,192,377,937. This figure of 1,192,377,937 shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Further information:

Notes:

1. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 of the European Parliament and of the Council. 

2. 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.

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 royalty interest from EP Minerals, LLC in a diatomite project in Nevada and is evaluating deposits of 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