Sunrise Resources Plc Pioche claims update (0140M)

TIDMSRES

RNS Number : 0140M

Sunrise Resources Plc

09 January 2023

9 January 2023

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

Tolsa doubles Pioche Project Area to cover

projected extensions to sepiolite deposits.

Sunrise Resources plc is pleased to advise that Tolsa USA Inc. ("Tolsa") has staked additional claims at the Company's Pioche Sepiolite Project following its recent trenching programme and decision to move to a resource drilling programme in Spring 2023.

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Key Points

-- 31 additional mining claims staked to more than double the size of the Pioche Sepiolite Project area.

-- New claims cover projected extensions of the sepiolite deposits outlined in the 2022 mapping and trenching programmes.

-- $50,000 option fee now received from Tolsa; Tolsa has an option to purchase the Pioche Project for US$1.25 million no later than 28 December 2023 and ongoing payment of a 3% revenue royalty to Sunrise (see announcement of 21 December 2022) .

   --    All new claims are subject to 3% revenue royalty to Sunrise. 

Commenting today, Executive Chairman Patrick Cheetham said:

"Tolsa's trenching programme at Pioche has clearly identified potential for substantial extensions to the sepiolite deposits which is great news for the project. Our agreement with Tolsa provides that any mining claims staked by either party within a 2-mile radius of our original claim boundary are subject to the agreement and the payment of royalties. We are pleased to see Tolsa's further commitment to this rapidly evolving project following their recent option payment to Sunrise."

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Further information:

 
 Sunrise Resources plc           Tel: [phone] 
  Patrick Cheetham, Executive 
  Chairman 
                                 Tel: [phone] 
   Beaumont Cornish Limited 
   Nominated Adviser 
   James Biddle/Roland Cornish 
                                 Tel: [phone] 
   Peterhouse Capital Limited 
   Broker 
   Lucy Williams/Duncan Vasey 
 
 

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

Website: www.sunriseresourcesplc.com

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Notes

   --    Further information on the Pioche Project can be found on the Company's website at: 

https://www.sunriseresourcesplc.com/pioche-sepiolite-project

-- Further information on the Company's agreement with Tolsa and information on Sepiolite and Tolsa can be found in the company's news release of 28 June 2022 at:

https://www.sunriseresourcesplc.com/news/category/news

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January 09, 2023 02:00 ET (07:00 GMT)