REG - Sunrise Resources - Pioche claims update

Sunrise ResourcesAnnouncement

09/01/2023 07:00

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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.

___________________________________________________________________________

 

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."

 

___________________________________________________________________________

 

 

Further information:

 

 Sunrise Resources plc                  Tel: +44 (0)1625 838 884

 Patrick Cheetham, Executive Chairman
                                        Tel: +44 (0)207 628 3396

 Beaumont Cornish Limited

 Nominated Adviser

 James Biddle/Roland Cornish
                                        Tel: +44 (0)207 469 0930

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

 

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