The Gold Report

Sunridge Gold Corp. TICKER: SGC:TSX.V Visit Company Website Sunridge Gold Corp. is exploring and developing the Asmara Project in Eritrea in East Africa. Four NI-43-101-compliant mineral deposits have been successfully defined to date and a feasibility study for the high-grade Debarwa copper, gold and zinc deposit is scheduled for completion in 2011. A prefeasibility study on the Asmara North, Emba Derho, Adi Nefas and Gupo Gold (copper, zinc, gold, silver) deposits is scheduled for completion in early 2012. Exploration work continues on the Asmara Project and the Besakoa Project in Madagascar and several high priority volcanogenic massive sulphide targets have been defined.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

The Gold Report Interview with Kwong-Mun Achong Low (1/20/12) "Sunridge [is a] solid company with robust assets. Sunridge has four polymetallic deposits in close proximity to one another. The biggest deposit, Emba Derho, is of world-class size by itself. It's a 62 Mt volcanic massive sulphide (VMS) deposit with almost 0.6 Moz gold, nearly 1 Blb copper and 2 Blb zinc. Something that size could attract takeover potential. . .

The biggest misconception is that Eritrea is a bad place to do business. I visited the property in November and saw firsthand that it is a very determined country working to put additional business-friendly policies in place. The people are very friendly and hard working. . .[the company could begin production] as early as 2015. After the feasibility is completed, it could start applying for its permits. Sunridge has already started talking with government officials, so I don't think that will take as long as it has for other companies, like Nevsun." More >

The Gold Report Interview with Christopher Welch (1/13/12) "Sunridge Gold Corp. is definitely one of the more encouraging companies in [its] because it's so undervalued. I constantly ask, 'Where am I going to go next to find the overlooked or the best deposit?' That part of the Arabian-Nubian Shield really comes to the fore as the most overlooked part of the globe to find volcanic massive sulphide (VMS) deposits that have good grades. They don't always have the biggest scale, but the grade means that the mines that get developed can be quite profitable.

If you take just one of the components of Sunridge's project portfolio, its contained zinc for example, it has a greater gross in-situ metal value than the market cap of the company. So we think that Sunridge offers great potential. . .My colleague was [at the Asmara gold project] recently as part of a larger trip around Eritrea and was very encouraged with what he saw. He said it looked very positive. Sunridge is in the prefeasibility stage on the Asmara project, which is part of a group of projects around the capital city. . .Those projects will do very well when they combine and share infrastructure. . .It has ground in a great country with great prospects. Any sort of mid-tier company that's looking to bolt on some high-grade VMS targets and near-term gold production capacity should be looking at it." More >

Adam Lucas, Ocean Equities (12/23/11) "Sunridge Gold Corp. is set for a big 2012: A recent site visit hosted by the company highlighted the quality of mineral deposits in Eritrea and the exciting prospects of mining in a nation that currently has a severe misconception from the investment community. . .entry to Sunridge at this valuation offers significant upside potential throughout 2012. . .currently, the company has four advanced projects with feasibility studies approaching completion; there is also blue-sky exploration potential for Sunridge with the exploration targets of Adi Rassi, Torat, Dairo Paulos and Adi Mussa."

Christopher Welch, Ocean Equities (12/6/11) "Sunridge Gold Corp. announced drilling results from an additional 20 drill holes from its Gupo gold deposit, part of the Northern Asmara project in Eritrea. Significant drill intersections with extensive gold mineralization were achieved in the recent drilling campaign, including: 12m at 4.13 g/t Au from 12m (GG-084-R), 30m at 6.09 g/t Au from 0m (GG-096-R), 13m at 3.66 g/t Au from 8m (GG-113-R) and 19m at 6.20 g/t Au from 132m (GG-114-R). . .the drill results today support the company's plan for Gupo to be an open-pit mine. . .we expect Sunridge's share price to rally as it approaches completion of the pending feasibility studies."

Adam Lucas, Ocean Equities (11/4/11) "The results from Sunridge Gold Corp.'s Gupo gold deposit thus far are promising with significant intersections of gold mineralization indicating high potential for an expansion of the current resource while upgrading it to Measured and Indicated categories. Interestingly, assay results from the current drill holes outside of the gold mineralized trend have returned significant intersections of mineralization with drill hole GG-086-R achieving 6.56 g/t gold over 12m from a depth of 92m to 104m. . .with initial positive drill results from the Gupo gold deposit representing 18% of the current drill program, the upcoming release of a bankable feasibility study on the Debarwa DSO copper and a prefeasibility study on the Asmara North assets, there is an abundance of news flow for the company over the succeeding quarters and we believe that entry to Sunridge at this level has the potential to offer valuation upside for investors."

• Corporate Presentation (10/14/11)

(11/1/11) SGC: Asmara Update

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