Sunridge Gold Engages Endeavour Financial
09 Agosto 2011 - 2:00PM
Marketwired
Sunridge Gold Corp. (TSX VENTURE: SGC) announces the engagement of
Endeavour Financial International Corporation ("Endeavour") on an
exclusive basis to provide financial advisory services with respect
to its debt financing requirements for the development of the
Asmara Project, Eritrea.
The feasibility study at Debarwa copper-gold-zinc deposit is now
substantially past the halfway point of completion and the
prefeasibility study on the Asmara North copper-zinc-gold projects
is also well advanced. The Company is therefore now at a point of
making some fundamental decisions about how these projects should
proceed towards mining. Endeavour's technical and financial advice
on these different development options at this stage will be
important to Sunridge.
Endeavour provided advice and assistance to Nevsun Resources
Ltd. in its evaluation of the Bisha Project, a large precious and
base metal rich deposit which is now in production 150 kilometers
west of Asmara, Eritrea.
Upon receipt of TSX Venture Exchange ("TSXV") acceptance, the
Company will issue to Endeavour 1,000,000 share purchase warrants
exercisable at a price of $1.00 for three years to vest one-third
every six months from the date of the TSXV approval. Endeavour will
be paid a monthly work fee during the term of the engagement,
milestone fees in certain circumstances and a financing success fee
on the closing of any debt financing provided to Sunridge.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company
focused on the acquisition, exploration, discovery and development
of base and precious metal projects on the Asmara Project in
Eritrea and exploration properties in Madagascar. Sunridge
currently has approximately 117 million shares outstanding and
approximately $16 million in cash. Sunridge 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, President and Chief Executive Officer
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.
Contacts: Sunridge Gold Corp. Greg Davis VP Business Development
604-688-1263 (direct) greg@sunridgegold.com
www.sunridgegold.com
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