Eritrea Resource play (ERP)

[Ed Monton]

High Grade Copper, Gold And Silver Results From Debarwa Project

--------------------------------------------------------------------------------

NR 2004-08

Sunridge Gold Corp. ("Sunridge") and their joint-venture partner and operator Sub-Sahara Resources NL ("Sub-Sahara") are pleased to announce results from 19 new reverse-circulation and diamond drill holes from the Debarwa high-grade copper and gold deposit, part of the Asmara Project in Eritrea. Many of these holes confirm the presence of the high-grade copper supergene zone at the Debarwa Main zone and show appreciably higher gold and silver values than has been seen in previous drilling. In addition, drilling progress on the project has been substantially increased by the addition of new equipment, more drill personnel and the arrival of a fourth drill rig.

HIGHLIGHTS:

Supergene Zone:
Higher grade gold than seen in previous drilling

DEBR-D-021 intersected 20.10 meters grading 15.30% copper, 9.69 g/t gold and 123.86 g/t silver including an interval of 1.80 meters grading 71.33 g/t gold

DEBR-D-022 intersected 20.00 meters grading 12.83% copper, 4.55 g/t gold and 68.83 g/t silver

DEBR-D-023 intersected 10.00 meters grading 25.0 g/t gold, 372.01 g/t silver as well as 17.00 meters grading 12.33% copper, 1.85 g/t gold and 58.55 g/t silver
Primary Zone:
DEBD-014 over 18.0 meters grading 3.96% copper, 1.37 g/t gold, 35.14 g/t silver and 5.48% zinc

 
  
 --------------------------------------------------------------------- 
          From     To Length     Au     Ag     Cu     Zn 
 Hole #     (m)    (m)    (m)   g/t    g/t      %      %   Dip    Zone 
 --------------------------------------------------------------------- 
 SUPERGENE 
  ZONE 
 --------------------------------------------------------------------- 
 DEBR- 
  D-005  51.00  57.00   6.00   0.92  32.43   4.14          -60 Debarwa 
                                                           deg-   Main 
                                                          rees  
 --------------------------------------------------------------------- 
 DEBR- 
  D-011  26.00  31.00   5.00   1.11   4.28                 -90 Debarwa 
                                                           deg-   Main 
                                                          rees 
 And     53.00  55.00   2.00  25.30   1.70 
 And     55.00  60.60   5.60 Cavity Cavity Cavity Cavity 
 --------------------------------------------------------------------- 
 And     60.60  62.70   2.10   3.17  95.67  12.53 
 --------------------------------------------------------------------- 
 DEBR- 
  012    38.00  44.00   6.00   4.91  82.37                 -70 Debarwa 
                                                           deg-   Main 
                                                          rees 
 And     48.00  50.00   2.00   6.27 183.65 
 --------------------------------------------------------------------- 
 DEBR- 
  D-015  46.00  49.00   3.00          6.37   1.11  0.52    -90 Debarwa 
                                                           deg-  South 
                                                          rees 
 --------------------------------------------------------------------- 
 DEBR- 
  017    32.00  38.00   6.00   1.48  15.30                 -90 Debarwa 
                                                           deg-  South 
                                                          rees 
 --------------------------------------------------------------------- 
 DEBR- 
  019    36.00  41.00   5.00   1.07   9.76                 -60 Debarwa 
                                                           deg-  South 
                                                          rees 
 And     60.00  74.00  14.00          3.59   1.47 
 --------------------------------------------------------------------- 
 DEBR- 
  D-021  26.00  28.00   2.00   3.43  62.90                 -60 Debarwa 
                                                           deg-   Main 
                                                          rees 
 And     39.00  59.10  20.10   9.69 123.86  15.30 
 Includ- 
  ing    48.00  55.30   7.30   1.23  87.95  22.46 
 And 
  includ- 
  ing    57.30  59.10   1.80  71.33 457.00   2.01 
 --------------------------------------------------------------------- 
 DEBR- 
  D-022  12.00  14.00   2.00   3.97                        -90 Debarwa 
                                                           deg-   Main 
                                                          rees 
 And     34.00  40.00   6.00   5.19 185.13   1.56 
 And     40.00  60.00  20.00   4.55  68.83  12.83 
 And    116.00 119.00   3.00          3.77         2.01 
 --------------------------------------------------------------------- 
 DEBR- 
  D-023  30.00  40.00  10.00  25.00 372.01                 -90 Debarwa 
                                                           deg-   Main 
                                                          rees 
 And     40.00  57.00  17.00   1.85  58.55  12.33 
 Includ- 
  ing    41.00  51.00  10.00   2.77  75.50  17.62 
 --------------------------------------------------------------------- 
  
  
 --------------------------------------------------------------------- 
           From    To Length     Au     Ag     Cu     Zn 
 Hole #     (m)    (m)    (m)   g/t    g/t      %      %   Dip    Zone 
 --------------------------------------------------------------------- 
 PRIMARY 
  ZONE 
 --------------------------------------------------------------------- 
 DEBR- 
  D-007 169.00 170.00   1.00         13.10   2.15   1.04   -60 Debarwa 
                                                           deg-   Main 
                                                          rees 
 And    179.20 181.00   1.80   2.80  35.46   2.60   5.87 
 --------------------------------------------------------------------- 
 DEBR- 
  009    69.00  73.00   4.00         10.00   1.07          -60 Debarwa 
                                                           deg-   Main 
                                                          rees 
 --------------------------------------------------------------------- 
 DEBR- 
  010    55.00  59.00   4.00          3.95          1.14   -90 Debarwa 
                                                           deg-   Main 
                                                          rees 
 And     79.00  81.00   2.00          5.70          2.83 
 And    116.00 119.00   3.00   0.40   5.20          1.42 
 --------------------------------------------------------------------- 
 DEBD- 
  012   168.00 173.00   5.00                        1.28   -60 Debarwa 
                                                           deg-   Main 
                                                          rees 
 --------------------------------------------------------------------- 
 DEBD- 
  014   104.00 122.00  18.00   1.37  35.14   3.96   5.48   -60 Debarwa 
                                                           deg-   Main 
                                                          rees 
 --------------------------------------------------------------------- 
 DEBR- 
  D-014  40.00  48.00   8.00   2.85  12.65                 -60 Debarwa 
                                                           deg-  South 
                                                          rees 
 And     49.00  64.00  15.00   0.77   7.44   2.14 
 --------------------------------------------------------------------- 
 DEBD- 
  015    69.00  72.00   3.00   1.21  32.20   2.31          -60 Debarwa 
                                                           deg-  South 
                                                          rees 
 --------------------------------------------------------------------- 
  
 

...........


Note: The lengths in the above tables represent down hole intervals. Holes designations ending in "R" are reverse-circulation holes, those ending in "D" are diamond drill holes and those ending in R-D are those started with reverse-circulation and completed with diamond drilling. Results from drill holes DEBR-006, and DEBD-010 were issued in NR 2004-03 on March 16, 2004 and results from DEBR-D-008, DEBR-013, DEBR-016, were issued in NR 2004-05 on April 30, 2004. There were no significant values in DEBD-011 DEBR-D-018 and DEBR-D-020. Results from DEBD-013 are pending. All values are uncut.

The copper, gold and silver grades seen in these drilling results support management's belief that the overall average grade of the Debarwa deposit could be significantly higher than previously estimated by the Phelps Dodge company in 1999. However, more drilling will be required to substantiate this concept. In 1999, Phelps Dodge estimated a resource summary estimate for Debarwa with total resource (supergene and primary) of 1,654,420 tonnes at an average grade of 5.10% copper and 1.40 grams per tonne gold using cut-off grades of 1.0 g/t gold, 0.5% copper equivalent and 2.5% copper equivalent for the leached (gossan), supergene and primary zones respectively. The Company's Sedar Filed Independent Consulting Geologist's Technical Report concludes that the historic resource estimates cannot be treated as CIM compliant resources due to the lack of original documentation, the fact that the majority of the drilling predates contemporary best practice guidelines and National Instrument 43-101 and the low density of drilling in some areas of the deposit. Therefore, investors should not rely on this information. However, the Report also points out that there is a certain degree of internal consistency in the previous resource estimates and that the authors believe that further drilling at Debarwa will likely substantiate historic estimates. The Report also goes on to discuss the potential of increasing resources to both the north and south of the historic resource area.

These results are part of the ongoing infill and exploration drill program at the Debarwa Project designed to provide detailed data for an independent resource estimate. Drilling will test a number of other high priority targets at Debarwa and at several other drill ready targets outside of Debarwa, and part of the joint venture's Asmara Project.

The Asmara Project comprises four exploration licenses covering 1,300 square kilometres immediately north, south and west of the capital city of Asmara in east-central Eritrea. Several significant zones of mineralization exist on the concessions, namely the Debarwa copper/gold deposit, the Adi Nefas Doop gold deposit, the Adi Nefas zinc & gold deposit and the Medrizien Colonial gold mining areas.

The Asmara Project is a joint venture between Sunridge Gold Corp. and Sub-Sahara Resources. Sunridge is a well-funded Canadian public company focused on the exploration and development of the Asmara Project base metals and gold properties in Eritrea and is currently earning a 40% interest by spending US$ 2.4 million on the project. Sunridge has the right to earn up to a 90% interest in the project by financing the project through to production.

Sub-Sahara has implemented a Quality Assurance/Quality Control program as part of the drilling program at Debarwa. This program includes chain of custody protocol as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. Michael Griffiths Aus IMM, the Chief Executive Officer of Sub-Sahara is the Qualified Person for the Asmara Project.

Michael Hopley, President and
Chief Executive Officer, Sunridge Gold Corp.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.