Sunridge Gold Reports Completion Of Drill Program and Channel A

 
FSC / Press Release 
Sunridge Gold Reports Completion Of Drill Program and Channel Assay Results From
Kodadu Prospect, Asmara Project, Eritrea 
Vancouver, British Columbia CANADA, February 19, 2013 /FSC/ - Sunridge Gold
Corp.  (SGC:TSX.V/SGCNF:OTCQX)is pleased to report the completion of the
reverse-circulation drill program as well as encouraging initial assay results
from channel samples from the Kodadu volcanogenic-massive sulphide (VMS) and
gold shear zone targets located on the Company's Asmara Project in Eritrea, East
Africa. 
A reverse-circulation drill program announced on January 23 at the Kodadu VMS
prospect has now been completed and assays are expected next month. A total of
22 drill holes targeting the oxide gold cap of the Kodadu VMS mineral occurrence
and a nearby related gold mineralized shear zone were drilled (see map). The
goal of the program is to rapidly define a resource that could be mined as feed
to a central gold plant near the large Emba Derho deposit. 
Sunridge has recently received assay results from 14 channels cut across the
surface of the Kodadu VMS gossan intermittently over a 1.2 kilometre strike
length as well as over part of the gold mineralized shear zone (see map). The
results are summarized as follows: 
-***- 
-----------------------------------------------
Channel         Distance            Gold assays 
in meters        grams per tonne
-----------------------------------------------
KD-CH-010            5.5                   1.16
-----------------------------------------------
KD-CH-011           11.0                   1.46
-----------------------------------------------
KD-CH-012                 No significant values
-----------------------------------------------
KD-CH-013                 No significant values
-----------------------------------------------
KD-CH-014           10.5                   0.73
-----------------------------------------------
KD-CH-015           10.0                   0.25
-----------------------------------------------
KD-CH-016           22.5                   0.69
-----------------------------------------------
KD-CH-017           18.9                   0.76
-----------------------------------------------
KD-CH-018            6.0                   0.26
-----------------------------------------------
KD-CH-019           7.00                   0.88
-----------------------------------------------
KD-CH-020           7.00                   1.11
-----------------------------------------------
KD-CH-021                 No significant values
-----------------------------------------------
KD-CH-022                 No significant values
-----------------------------------------------
KD-CH-023                 No significant values
----------------------------------------------- 
-****- 
The Kodadu VMS target is located approximately 25 kilometers south of the large
Emba Derho copper-zinc-gold-silver deposit. Several gossans have been identified
by surface mapping that trend north-northeast for over 1.2 kilometre strike
length and they have an average width of about 10 meters. Typically these
gossans have depths from surface of 30 to 35 meters. In 2009 Sunridge completed
a channel sampling program (channels 1 to 9) in which 87 samples were taken.
This program returned 28 gold values of over 0.2g/t and the best values were
10.67g/t over 14.7m, 2.3g/t over 8m and 1.79 g/t over 13.3m (see map). 
In addition to the VMS target described above, gold mineralization has been
identified in a one kilometer shear zone running parallel and about 100 meters
west of the Kodadu gossans.  Geological mapping has shown the zone to be
approximately 30 meters wide and historic gold values from trenches sampled by a
previous operator are reported as 3.85g/t over 50m; 2.05g/t over 50m; and
11.87g/t over 8m. 
Asmara Project Feasibility Study 
In addition to the exploration ground held by Sunridge the Asmara Project
consists of five defined mineral deposits; three copper, zinc, gold and silver
VMS deposits, a near-surface gold deposit and a shear-zone hosted copper-gold
deposit. A feasibility study on four of these deposits that envisions an
integrated centralized mining operation was started in April 2012 and remains on
schedule to be completed in the second quarter of 2013. A positive Asmara
Project Prefeasibility Study was completed in May 2012 on these same four
deposits which demonstrated robust economics, with a pre-tax net present value
of $555 million with a 10% discount applied and an internal rate of return of
27%. 
NOTES:
1. All assays reported are from channel samples that were cut into bedrock by a
hand-held diamond circular saw. The channels were about 5 centimeters in width
and approximately 2 centimeters in depth.
2. A Quality Assurance/Quality Control program was part of the sampling program
on the Kodadu gold prospect. This program includes chain of custody protocols as
well as systematic submittals of standards, duplicates and blank samples into
the flow of samples produced by the sampling.
3. Samples were prepared at African Horn Testing Services (Eritrea) and analyzed
at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western
Australia.
4. The results of the Kodadu channel sampling program have been reviewed by
Michael J. Hopley the Qualified Person for Sunridge. Mr. Hopley is also the
person responsible for preparation of the technical information contained in
this news release and is President and Chief Executive Officer of Sunridge 
About Sunridge:
Sunridge is a mineral exploration and development company focused on the
acquisition, exploration, discovery and development of base and precious metal
deposits on the Asmara Project in Eritrea and exploration properties in
Madagascar.  Sunridge currently has approximately 175 million shares outstanding
and trades on the TSX Venture Exchange under the symbol SGC.  For additional
information on the Company and its projects please view the slide show on our
website at www.sunridgegold.com or call Greg Davis at the numbers listed below. 
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer 
For further information contact: 
Greg Davis, VP Business Development
Email:  greg@sunridgegold.com
Tel:  604-688-1263 (direct) 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 
This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or "will" occur.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in such
forward-looking statements.   Such factors include, among others: the actual
results of current exploration activities; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; possible
variations in ore grade or recovery rates; accidents, labor disputes and other
risks of the mining industry; delays in negotiating a shareholders' agreement
with ENAMCO and obtaining governmental approvals or financing; and fluctuations
in metal prices.  There may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended.  Any forward-looking
statement speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Forward-looking statements
are not guarantees of future performance and accordingly undue reliance should
not be put on such statements due to the inherent uncertainty therein. 
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link:
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This release is available in PDF. To view the PDF, please click on the following
link:
http://www.usetdas.com/pr/sunridgegoldfeb192013.pdf 
Source: Sunridge Gold Corp. (TSX-V SGC)  http://www.sunridgegold.com
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-0- Feb/19/2013 12:04 GMT