Sunrise Res Regulatory News (SRES)

17 March 2014

SUNRISE RESOURCES PLC

SHARE PLACING AND SUBSCRIPTION

Sunrise Resources plc, the AIM-traded diversified mineral exploration and development company, is pleased to announce that it has raised £525,000 before expenses through a placing and subscription of, in aggregate, 116,666,664 new Ordinary Shares of 0.1p each (the "Placing Shares") with institutional and other investors and a Director at a price of 0.45p per Placing Share (the "Placing and Subscription"). The Placing Shares represent approximately 23 per cent. of the enlarged share capital.

Participants in the Placing and Subscription have also been issued warrants to subscribe for 58,333,332 new ordinary shares ("Warrant Shares"), in aggregate, exercisable at 0.6p per share. The warrants expire on 31 March 2016.

Patrick Cheetham, Chairman of the Company, commented: "I am pleased that the Company is attracting new institutional investment and welcome the further commitment of existing shareholders. The funds raised will support the Company's exploration programme over the Summer and we look forward to reporting further progress in 2014."

Use of proceeds

The net funds raised will be applied to the exploration of the Company's projects in Australia and Nevada, with the first drill programme at the Cue diamond project expected to start within the next few weeks.

The Placing and Subscription

The Placing and Subscription has raised a total of £525,000 through the issue of 116,666,664 Placing Shares at the placing price of 0.45 pence. The Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared on or after the date on which they are issued. Application will be made for admission to AIM of the Placing Shares ("Admission") which is expected to occur, and trading to commence, on or around 8.00 am on 31 March 2014.

Director and substantial shareholder participation

Patrick Cheetham, Chairman of the Company, and Tertiary Minerals plc, a substantial shareholder have invested £20,000 and £35,000 in cash respectively in the Placing and Subscription.

*includes 5,500,000 shares held by K E Cheetham

The issue of Placing Shares to Patrick Cheetham and Tertiary Minerals (the "Participations") are deemed related party transactions under the AIM Rules for Companies ("the AIM Rules").

In accordance with the AIM Rules, the directors independent of the Participations are required to consider, having consulted with the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable. The independent directors consider, having consulted with Northland Capital Partners Limited, that the terms of the Participations are fair and reasonable insofar as shareholders of Sunrise Resources plc are concerned.

Following the issue of the Placing Shares there will be 501,616,877 ordinary shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Further information:

About Sunrise Resources plc

Sunrise Resources plc is a diversified mineral exploration and development company.

The Company has diamond exploration interests in Western Australia and Finland and is evaluating a production opportunity for white barite in southwest Ireland.

The Company holds applications for two gold exploration projects in Western Australia and has an active project programme to generate new exploration projects in Australia and Nevada, USA. It has recently staked claims over a copper-gold project and a diatomite project in Nevada.

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