Sunridge Gold Corp. (SGC/TSX.V) is pleased to provide results from newly received assays from ten diamond drill holes from the company’s Debarwa copper-gold-zinc deposit located on the Asmara Project, Eritrea. The drill results from the current program (along with results from 35 drill holes completed in late 2009) will be used to update the resource estimate for Debarwa which is scheduled to be completed in March 2011 as part of the ongoing Debarwa feasibility study. Approximately fifty diamond drill holes have been completed to date in this current phase of drilling and approximately five more are planned before completion of this phase of work.

Highlights from these latest drilling results are as follows:

• DEBD-130 – 31.85 m of 5.72 % Cu & 2.13 g/t Au, including 6.00 m of 17.99% Cu
• DEBD-131 – 9.29 m of 11% Cu & 4.19 g/t Au
• DEBD-132 – 13.45 m of 16.22% Cu & 3.22 g/t Au, including 5.00 m of 17.24% Cu & 3.3m of 26.04% Cu
• DEBD-133 – 16.70 m of 14.9% Cu & 2.15 g/t Au
• DEBD-135 – 25.45 m of 11.22% Cu & 1.75 g/t Au
• DEBD-136 – 11.45 m of 4.1% Cu & 2.18 g/t Au
• DEBD-138 – 16.50 m of 3.66 % Cu & 7.15 % Zn (Primary Zone)
• DEBD-139 – 4.50 m of 2.04 % Cu & 11.8 % Zn (Primary Zone)

The purpose of the ongoing diamond drill program at Debarwa is to better define and extend both laterally and at depth all zones of copper, gold and zinc mineralization as part of the ongoing Debarwa feasibility study that started in November 2010.

The first six shallow holes DEBD-130 to DEBD-133, DEBD-135 and DEBD-136 were designed to intersect the surface outcropping gold-rich oxide zone and/or the copper-enriched supergene zone which lies immediately beneath.

Within the supergene zone there exists a particularly high-grade copper zone, with grades greater than 15% copper; this zone is known as the “Direct Shipping Ore” or DSO zone. Four holes DEBD-134 and DEBD-137 to DEBD-139 were drilled deeper to intersect the primary zone of copper-zinc-gold mineralization.

The results of these new assays continue to confirm the high-grade copper grades in the supergene and DSO zones and the deeper holes have both confirmed and extended the depth of the primary zone of copper-zinc-gold mineralization at Debarwa.

As well as better definitions and extensions of the mineralized zones the purpose of the current Debarwa drilling program is to capture structural data from the oriented drill core and to gather more samples for ongoing metallurgical test work.

A summary of the assay results from these ten drill holes are as follows (click on image):

NOTE: See plan map at the end of this release and on the Company’s website – www.sunridgegold.com. There were no significant assays from drill hole DEBD-134.

The Debarwa Feasibility Study

The Debarwa feasibility study will consider a standalone process plant using flotation for the recovery of the base and precious metals and will study various mining options over a forecast life of mine of approximately 9 years. The study will further investigate a direct shipping option to mine high-grade copper mineralization (greater than 15% copper) to generate early cash flow and enhance economics of the deposit. The completion of this report is expected in the third quarter of 2011.

NOTES:

1. A Quality Assurance/Quality Control program was part of the sampling program on the Debarwa copper-zinc-gold deposit. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the sampling.
2. Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.
3. The results of the Debarwa drill program have been reviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and CEO of 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 $25 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.

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.

This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Sunridge Gold Corp. (SGC/TSX.V) is pleased to provide an update on the current drilling program being conducted at the Asmara Project, Eritrea. Two diamond drills have recently completed the first 35 diamond drill holes as part of definition drilling at the high-grade copper-gold-zinc Debarwa VMS (volcanogenic massive sulphide) deposit. Most holes drilled so far have intersected strong VMS-style mineralization from the copper-enriched supergene zone as well as the primary copper and zinc zones. It is expected that assays from this drilling will be received by Sunridge in early February.

These first 35 holes were drilled at the northern and middle sections of the deposit for a total of 4,640 metres as part of the recently commenced feasibility study at Debarwa. The drill program focused on further defining the potential “Direct Shipping Ore” zone (a zone of +15% copper within the copper-enriched supergene zone and referred to as the “DSO” zone) as well as seeking extensions to the south and to the east, to extend the primary zone in depth in the Main Zone, to capture structural data from the oriented core and to gather more samples for ongoing metallurgical test work. The program has about 1,400 metres remaining to drill, mainly in the Debarwa South zone.

A third drill will join the two existing drills at Debarwa in January to initially drill wells for the ongoing hydrological studies, part of the feasibility study, and then to move onto Sunridge’s near-surface gold targets at the Emba Derho and Gupo deposits as well as the Medrizien gold target located in the northern part of the Asmara Project.

The Debarwa Feasibility Study

The Debarwa feasibility study will consider a standalone process plant using flotation for the recovery of the base and precious metals and will study various mining options over a forecast life of mine of approximately 9 years. The study will further investigate a direct shipping option of the DSO zone to generate early cash flow and enhance economics of the deposit. The completion of the feasibility study is expected in the third quarter of 2011.

Michael J. Hopley the President and Chief Executive Officer of Sunridge is the Qualified Person for Sunridge and he is the person responsible for preparation of the technical information contained in this news release.

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 $25 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 Don Halliday or Greg Davis at the numbers listed below.

SUNRIDGE GOLD CORP.

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Peter Grandich the founder of Grandich.com and Grandich Publications, LCC and editor of the The Grandich Letter which was first published in 1984 explains in the Prospector Magazin if Sunridge is to follow in the footsteps of Nevsun.

The mining industry is apparently focusing hard on Eritrea again and Sunridge Gold is now positioned to be the next company to push towards production.

Sunridge’s peer company, Nevsun Resources is currently building the first modern mine in Eritrea and is nearing completion of the Bisha gold-copper-zinc VMS project. The mine construction is on schedule and the first gold pour is now expected before the end of 2010. Nevsun’s market cap is now approximately $1.17 billion.

Also, further attention was brought to the region recently by the announced Citadel takeover by Equinox for $1.25 billion. The Valuation was primarily based on the Jabal Sayis Mine in Saudi Arabia, which compares very similar in terms of production numbers to that of Sunridge’s Emba Derho deposit. Although Jabel Sayis is further along in development, the price tag further demonstrates the potential upside in Sunridge’s value.

Sunridge compares favorably to both Nevsun’s valuation and the Citadel deal as Sunridge has larger resources and the current market valuation is still only $160 million. Sunridge has recently raised $26 million and now has over $30 million to take its projects through feasibility.

Sunridge has successfully been exploring for gold and base metals on the Asmara Project in Eritrea since 2003 and has now defined three VMS deposits. Debarwa, Emba Derho, and Adi Nefas Deposits which contain an impressive combined NI 43-101 compliant Indicated Resources of:

• 1.28 billion pounds (580,000 tonnes) of copper,
• 2.5 billion pounds (1,130,000 tonnes) of zinc,
• 1.05 million ounces of gold, and
• 31.8 million ounces of silver

The Asmara Project also hosts a fourth prospect known as Gupo which contains an Inferred Resource of 189,000 ounces of gold.

The Asmara Project is approximately 800 square kilometers and is located around the capital city of Asmara. The project is located on excellent infrastructure, with paved roads and grid power over the property and the Port of Massawa is 120km away and accessible by both road and rail.

The Debarwa Deposit is located approximated 25 km south of Asmara and is currently the focus of a Feasibility Study which is expected to be complete in Q3 of 2011. Sunridge has awarded the engineering contract for the feasibility study to Senet who is a logical choice as they are currently managing the building of Nevsun’s Bisha mine in Western Eritrea.

Debarwa is made up of an oxide gold “cap” consisting of an estimated 2.44 million tonnes at an average grade of 1.71 g/t gold. Below the oxide zone the deposit contains a copper enriched supergene zone consisting of an estimated 1.336 million tonnes at an average grade of 5.36% copper with gold and silver. Underlying the supergene zone is the primary mineralized zone which is open in depth with current estimates of 699,000 tonnes at an average grade of 2.53% copper, 3.23% zinc and 0.87 g/t gold.

Debarwa DSO Zone: A high grade copper zone (greater than 15% copper) has been identified within the supergene zone. The feasibility study will examine options to begin mining operations at Debarwa by selectively mining the DSO (Direct Shipping Option) to a smelter thereby producing cash flow early in the mine life during construction of a process plant facility.

The Northern Deposits consist of the large Emba Derho copper – gold – zinc VMS deposit and 2 satellite deposits – Adi Nefas and Gupo Gold. The Northern Deposits are located approximately 15 km north of Asmara and are all within 6 km of each other.

A positive scoping study was completed in June 2009 at the Emba Derho deposit which contains a NI 43-101 compliant Indicated Resource of 62.5 million tonnes, containing 996 million pounds of copper, 1,907 million pounds of zinc and 574,000 ounces of gold and 20 million ounces of silver.

The Scoping Study provided a base case analysis and yielded an NPV of US$323.8.9 million and an Internal Rate of Return of 27.7% when applying the two year moving average of metal prices prior to June 2009.

Sunridge management feels the Scoping study at Emba Derho is far from optimized and the will be demonstrated in prefeasibility studies, which are expected to begin before the end of 2010, will include Adi Nefas, and Gupo Gold.

Adi Nefas has an Indicated Resource of 2.73 million tonnes at 1.39% copper, 8.38% zinc, 2.85 g/t gold, and 99.3 g/t silver. The feasibility study will also include the gold oxide cap at Emba Derrho which contains 95,000 oz of gold at 0.84 g/t which was treated as waste in the scoping study.

The feasibility study will also examine a steeper pit slope and the use of a dense media separation (DMS) circuit to remove 20% of internal waste material that would otherwise would be sent through the plant as ore.

Exploration: Sunridge is about to begin a drill program at the Gupo Gold deposit and the Medrizien gold target. Gupo currently has an inferred resource containing 189,000 oz of gold averaging 2.99 g/t and the objective of the program is to expand and convert to an indicated category resource. The Medrizien target is within 1 km from Emba Derho and consists of a gold mineralized zone that has been mapped at surface up to 25 meters in width and several km along strike.

Sunridge management also expects to announce expansion drilling at Adi Nefas and Debarwa and is planning extensive drill programs on new high priority VMS targets in 2011.

Sunridge also has a VMS exploration project in Madagascar called Besakoa which has demonstrated strong geological similarities to the VMS deposits on the Asmara Project and the Bisha deposit. An initial exploration drill program is being planned for spring 2011.

I think it’s time to start calling Sunridge Gold the next possible Nevsun.

http://www.theprospectornews.com/weekly_1115_02.php

Sunridge Gold Corp. (SGC:TSX.V) is pleased to report encouraging results from the initial exploration program on the gold/copper/zinc Besakoa project, Madagascar.

Recent work has identified numerous volcanogenic massive sulphide (VMS) targets which have strong similarities to the Company’s Asmara Project in Eritrea where the Company has been successful in defining large amounts of copper, zinc and gold. Sunridge management believes that the Besakoa project may represent a new emerging VMS district.

Highlights of the Initial Exploration Program:

• Surface mapping and sampling has identified over 30 gossans on the project which represent the surface expression of VMS systems – see map at the end of this release.
• Over 9,000 soil samples have been taken from the property and results show at least 10 strong copper, zinc, gold, and lead geochemical anomalies between 1 and 4 kilometres in length many of which are coincident with VMS gossan outcrop.
• A ground gravity survey was conducted for the first time over large areas of the property. The results have defined numerous large (longer than 1 kilometre) strong (0.5 to 1 milligal) gravity anomalies many of which are coincident with elevated base and precious metal values.
• Many of the geochemical and gravity anomalies are coincident with electro-magnetic (EM) anomalies defined in a previous airborne EM survey.
• An AMT (Audio-Magneto-Telluric) geophysical survey is currently being conducted over most of the anomalies with the goal of outlining electrical conductors created by massive sulphide mineralization.
• Most of the anomalies have never been drilled and Sunridge plans to start a drilling program at Besakoa early next year.

“We are extremely encouraged with the results from the initial exploration program” states David Daoud, Sunridge’s Exploration Manager.

“The coincident surface gossans, strong soil and gravity anomalies as well as airborne EM conductors are very similar to the initial exploration data collected at both the Asmara Project and Nevsun’s Bisha Project in Eritrea. We look forward to drilling what could be a new VMS district at Besakoa.”

The Besakoa property covers over 60 square kilometres and is located in south central Madagascar and can the accessed by road from the port city of Toliara. Geologically the property is underlain by Neoproterozoic volcano-sedimentary shield rocks, a geological setting similar to Sunridge’s and Nevsun’s VMS projects in Eritrea. Sunridge has had great success discovering and developing large VMS deposits at their Asmara Project over the past 5 years. Sunridge geologists have applied the same exploration techniques used in the discovery and development of VMS drill targets in Eritrea to the initial exploration program at Besakoa. The “high priority” targets at the Besakoa Project are comprised of strong linear gravity anomalies coincident with strong base metal soil geochemical anomalies, linear airborne EM conductors and are located adjacent to VMS gossans — the weathered surface expression of VMS-style mineralization.

The western part of the Besakoa property is considered by Sunridge management to be prospective for vanadium as it represents a northern extension of Energizer Resources Inc.’s (EGZ:TSX.V) adjacent Green Giant vanadium deposit. A one kilometre wide by two kilometre long area of vanadium mineralization associated with graphitic meta-sediments has been defined by Sunridge geologists by soil geochemistry sampling and rock prospecting.

History

A large gossan similar to those found on the Asmara project was discovered in the 1950s by the French Bureau de Recherches Géologiques et Minières (BRGM). Subsequent drilling by the BRGM established the presence of primary sulphide mineralization underlying the gossan outcrop. In addition, Majescor Resources Inc. (MAJ:TSX.V), drilled another 8 short holes in 2007 to verify the BRGM drilling. However, the majority of the property has not been systematically explored particularly by gravity surveys and until recently most of the gossans outcropping on the project had not been sampled or drilled.

Agreement

Sunridge can earn a 100% in the Besakoa project. Sunridge will earn an initial 50% interest by spending $2,000,000 ($500,000 spent) by September 2011 and by issuing 500,000 Sunridge shares (200,000 issued) to Majescor. Upon acquiring a 50% interest in Besakoa, Sunridge will then have the right to acquire an additional 25% (aggregate 75%) by spending an additional $2,500,000 by September 15, 2012 and by issuing an additional 500,000 Sunridge shares.

Upon acquiring a 75% interest in the Besakoa project, Sunridge will have a one-year period in which to elect to acquire the remaining 25% interest at the fair value determined at that time by an independent valuation or as agreed between the parties in cash or, at the election of Sunridge, in the equivalent value of Sunridge common shares subject to regulatory approval. If Sunridge acquires a 100% interest in the Besakoa project, Majescor retains a 1% net smelter return royalty, half of which can be purchased by Sunridge for $1,000,000. If the Besakoa project is brought into commercial production, Sunridge will be obliged to pay the original owners of the project $1,000,000.

Disclosure

Michael J. Hopley the President and Chief Executive Officer of Sunridge is the Qualified Person for Sunridge and he is the person responsible for preparation of the technical information contained in this news release.

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 97 million shares outstanding and approximately $14.4 million in cash. Upon the close of the private placement announced on October 14, 2010, Sunridge will have approximately 115 million shares outstanding with $30.5 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 Don Halliday or Greg Davis at the numbers listed below.

SUNRIDGE GOLD CORP.

“Michael Hopley”

Michael Hopley, President and Chief Executive Officer

Sunridge Gold Corp. (SGC/TSX.V) (the “Company”) has issued 20,000,000 common shares and 10,000,000 common share purchase warrants (“Warrants”) to raise gross proceeds of $10,000,000 pursuant to a non-brokered private placement announced September 24, 2010.

The Company is pleased to acknowledge the continued support and participation of Lundin Mining Corporation (“Lundin”) in this private placement as Lundin exercised its pre-emptive rights and acquired 2,255,728 units.

Each Warrant entitles the holder thereof to purchase one common share in the capital of the Company at a price of $0.75 until October 26, 2012.

The common shares issued, and any common shares issued pursuant to the exercise of Warrants prior to February 27, 2011, are restricted from trading until February 27, 2011.

The Company paid finder’s fees to persons who introduced it to private placement investors consisting of $422,800 cash and 467,800 common shares and 158,900 Warrants.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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. Upon the close of the private placement announced on October 14, 2010, Sunridge will have approximately 115 million shares outstanding with $30.5 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC.

The proceeds of the financings will be used to fund the Company’s work programs at the Asmara Project in Eritrea, exploration work at the Besakoa Project in Madagascar and for general corporate purposes. Work programs at the Asmara Project in Eritrea will include a full feasibility study for the Debarwa high-grade copper-gold deposit, a pre-feasibility study for the combined Emba Derho, Adi Nefas, Gupo and Debarwa deposits, for drill programs at the Gupo Gold and Medrizien gold projects.

Senet

Sunridge Gold Corp. (SGC/TSX.V) announced today that it has engaged Senet (Pty) Ltd. (“Senet”) to conduct a feasibility study on its Debarwa copper-gold-zinc property in Eritrea.

Senet, based in Johannesburg, South Africa, is an internationally respected leader in the design, engineering and construction of mining projects in Africa, with extensive experience working in Eritrea on the Bisha Mine Project for Nevsun Resources Ltd.

Their expertise in process plant and infrastructure will be complemented by AMC Consultants Pty Ltd in mine design for the development of the Debarwa project.

The feasibility study will consider a standalone process plant using flotation for the recovery of the base and precious metals and will study various mining options over a forecast life of mine of approximately 9 years. The study will further investigate a direct ship option of high grade mineralization (greater than 15% copper) to generate early cash flow and enhance economics of the deposit. The completion of this report is expected in the third quarter of 2011.

Scott Ansell, VP Projects for Sunridge, stated that, “Senet has been instrumental in building the first modern mine in Eritrea and has demonstrated their capabilities in engineering and construction of the Bisha Mine. Their experience in the country will be instrumental to the successful completion of the Debarwa feasibility study.”

The Debarwa Deposit

The Debarwa deposit is located close to paved road access just 30 minutes drive from the capital city of Asmara and near the local power grid. There are existing underground workings at Debarwa, a shaft and two levels of development, from work completed by previous owners in the 1970s.

This high-grade copper-gold-zinc VMS deposit is 10 to 30 meters wide and Sunridge has defined it in great detail it over an approximate 1.4 kilometer strike length by drilling over three-hundred drill holes totalling over 38,000 meters.

The deposit is made up of an oxide gold “cap” consisting of an estimated 2.442 million tonnes at an average grade of 1.71 g/t gold. Underlying this zone is the copper enriched supergene zone consisting of an estimated 1.336 million tonnes at an average grade of 5.36% copper.

Underlying the supergene zone is the primary mineralized zone which is open in depth with current estimates of 699,000 tonnes at an average grade of 2.53% copper, 3.23% zinc and 0.87 g/t gold. (See details of the Debarwa resources in the table below).

DSO Zone

A high grade copper zone (greater than 15% copper) has been identified within the supergene zone and was examined in the recent “Strategic Production Study” completed by PEG Mining Consultants Inc (see news release NR2010-9, dated July 22, 2010). The feasibility study will examine options to begin mining operations at Debarwa by selectively mining the DSO (Direct Shipping Option) to a smelter thereby producing cash flow early in the mine life during construction of a process plant facility.

In addition, Sunridge has completed extensive metallurgical test work on mineralization from the Debarwa deposit and recent results have shown excellent base and precious metal recoveries by the use of flotation.

The current work program leading towards the feasibility study includes an updated estimate of the resources, advanced metallurgical studies, hydro-geological and groundwater studies, design of tailings storage facility and collection of environmental data leading to the completion of a Social Economic Impact Assessment (SEIA) study planned to be completed at the same time as the feasibility study.

On completion of the Debarwa feasibility study and the SEIA Sunridge intends to apply for a mining license from the government of Eritrea. Upon the issue of a mining license, the government will retain its 10% free carried interest in the project and will have the option to purchase up to an additional 30% interest from Sunridge to become a contributing joint venture partner. The government also holds a 3.5% net smelter return royalty on all base metals produced at Debarwa and a 5% net smelter return royalty on all precious metals.

For more information visit: http://www.marketwatch.com/story/sunridge-gold-selects-senet-to-conduct-feasibility-study-on-the-debarwa-project-eritrea-2010-10-21?reflink=MW_news_stmp

Sunridge Gold Corp. (SGC/TSX.V) today announced that it proposes to raise up to $16,650,000 by way of a non-brokered private placement through the issuance of up to 18,500,000 units at a price of $0.90 per unit (the “Unit”). The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the Units for any reason. Each Unit will consist of one common share and one common share purchase warrant (the “Warrant”). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $1.40 for a period of five years from closing the private placement.

The Company will use its best efforts to list the warrants for trading on the TSX Venture Exchange (the “TSX.V”). The private placement and any modifications to it are subject to compliance with applicable securities laws and to receipt of regulatory approval. The Company may pay finders’ fees in accordance with the policies of the TSX.V.

The proceeds of the financing will be used to fund the Company’s work programs at the Asmara Project in Eritrea, exploration work at the Besakoa Project in Madagascar and for general corporate purposes.

Work programs at the Asmara Project in Eritrea will include a full feasibility study for the Debarwa high-grade copper-gold deposit, a pre-feasibility study for the combined Emba Derho, Adi Nefas, Gupo and Debarwa deposits, for drill programs at the Gupo Gold and Medrizien gold projects.

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 76 million shares outstanding and approximately $4.4 million in cash. Upon the close of this private placement and the private placement announced on September 24, 2010, Sunridge will have approximately 114 million shares outstanding with $30.5 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 Don Halliday or Greg Davis at the numbers listed below.

SUNRIDGE GOLD CORP.

“Michael Hopley”

Michael Hopley, President and Chief Executive Officer

Sunridge Gold Corp., (SGC/TSX.V) announces that it has commenced a new exploration drilling program on the exploration areas of the Asmara Project, Eritrea. This program consists of at least 3,000 metres of diamond drilling and is targeting areas that have the potential for large new discoveries. In addition, Sunridge has mobilized a reverse circulation drill rig to Eritrea in order to commence a 4,000 metre drill program at the Gupo Gold deposit and a 1,000 metre program at the new Medrizien gold target within the next four to five weeks.

Sunridge Gold Joint Venture Drilling Program

The new joint venture drilling program is operated by Sunridge and funded by Antofagasta Minerals and is focused on drilling new targets with the potential for significant new discoveries. Drilling will target the following areas:

Adi Watot. This is a large area measuring approximately 1,200 metres long and 400 to 500 metres wide where Sunridge and Antofagasta geologists have identified swarms of quartz veinlets in an area that has elevated copper geochemical values.

Adi Kubulo. The geology of this area is similar to Adi Watot although somewhat smaller measuring some 400 metres long and approximately 200 metres wide.

Adi Watot — Adi Kubulo Corridor. This target is a corridor between the Adi Watot and Adi Kubulo targets that measures some 3,500 metres long by approximately 400 to 500 metres wide and in which mapping has shown continuity of quartz veinlets in an area with elevated copper values.

Adi Rassi. Drilling will test a possible northern extension of Adi Rassi that is associated with structurally controlled malachite showings. Assay results, from the previous drilling program showed long intervals of copper and gold mineralization e.g. drill hole AR-002D which had 84 metres with an average grade of 1.32 g/t gold and 0.84% copper; the results indicate that a potentially large new copper and gold zone has been discovered at Adi Rassi. Geological mapping and sampling shows that alteration associated with copper mineralization is visible over a zone that measures about 80 metres wide along a strike length of approximately 500 metres. Copper and gold mineralization at Adi Rassi is associated with quartz veins and breccia zones along a major shear zone that trends northeast for over 3 kilometres and dips steeply to the west.

Adi Lamza. Surface and previous drill hole information from this prospect has identified a large area of phyllitic alteration which will be drill tested.

Adi Tsenaf. A large area of quartz-vein stockwork measuring over 300 metres long will be drill tested.

First results from this new joint venture drilling program are expected to be received in November and will be announced on receipt.

Sunridge Gold drill program

The recently mobilized reverse-circulation drill rig is expected to commence drilling at Sunridge’s 100% owned Gupo Gold and Medrizien Gold areas within the next 4 to 5 weeks and will consist of 4,000 metres at Gupo and 1,000 metres at Medrizien.

Gupo Gold Project. The objective of the program is to upgrade the existing gold resource at Gupo, currently 189,000 ounces contained in 1,965,000 tonnes at an average grade of 2.99 g/t gold, from an Inferred to an Indicated category and to possibly increase the size of the resource. The gold resources at Gupo are considered to be a potential source of open pit feed for any future mining operations at the northern projects area of the Asmara Project (Emba Derho, Adi Nefas and Gupo).

Medrizien Gold Prospect. The objective of the Medrizien drill program is to make a new gold discovery on the Asmara Project. A gold discovery and development of a resource could provide future feed to any mining operations in the northern area of the Asmara Project. A total of fifty-seven rock samples were taken from the surface showing of mineralized quartz veins and altered halo of volcanic rocks. The results showed 10 samples with assays over 1 g/t gold with the highest assay being 74.7 g/t gold. In addition, eight rock samples taken from the old underground workings range from 0.14 g/t up to a value of 319 g/t gold. The gold mineralization in the Medrizien Gold prospect occurs in a stockwork of quartz veins associated with pyrite and chalcopyrite within a surrounding halo of sheared volcanic rocks with sericite and pyrite. This zone varies in width from a few metres up to 25 metres over a 3.5 kilometre strike length.

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 has approximately 76 million shares outstanding and approximately $4.5 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 Don Halliday or Greg Davis at the numbers listed below.

NOTES:

A Quality Assurance/Quality Control program was part of the sampling program on the Adi Rassi copper-gold and Medrizien gold prospect. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the sampling.

Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.

The results of the Adi Rassi copper-gold prospect drilling and the Medrizien gold sampling program have been reviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and Chief Executive Officer of Sunridge.

SUNRIDGE GOLD CORP.

“Michael Hopley”

Michael Hopley, President and Chief Executive Officer

For further information contact:

Don Halliday, Executive Vice President

Email: donh@sunridgegold.com

Tel: 604-899-1505 (direct)

Greg Davis, VP Business Development

Email: greg@sunridgegold.com

Tel: 604-688-1263 (direct)

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.

This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include resource estimates. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company’s actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; and other factors identified in the Company’s filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company’s management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.

You can also view this News Release on our website at:

http://www.sunridgegold.com/s/PressReleases.asp?ReportID=422323

Eritrea

Pursuant to the Sunridge Gold Corp. (SGC/TSX.V) shareholder approved Stock Option Plan, the Directors have today granted Incentive Stock Options to one officer and one consultant on 450,000 shares of the Company’s capital stock, exercisable for up to five years at a price of $0.50 per share, which price is the last closing price of the Company’s shares prior to the date of grant.

The options granted will vest under normal vesting terms and will be subject to any applicable regulatory hold periods.

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 has approximately 76 million shares outstanding and approximately $4.8 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 Don Halliday or Greg Davis at the numbers listed below.

SUNRIDGE GOLD CORP.

“Michael Hopley”

Michael Hopley, President and Chief Executive Officer

PERTH (miningweekly.com) – ASX-listed gold explorer Chalice Gold Mines has declared a maiden ore reserve of 760 000 oz for its Koka gold deposit, in Eritrea.

The Koka gold deposit forms part of the Zara gold project, in which Chalice holds an 80% stake.

The Koka deposit was now estimated to host around five-million tons of ore, grading at 5,3 g/t gold, for 840 000 contained ounces. The project further hosted a probable ore reserve of 4,6-million tons, at 5,1 g/t gold for the 760 000 contained ounces.

Chalice said in a statement that the new resource and reserve statement for the Koka deposit was a critical component of the feasibility study currently being conducted. The feasibility study was expected to be completed by next month.

While the current feasibility studies were still under way, Chalice was aiming to start gold production at the Koka deposit during 2011.

Last week, Chalice said that it would raise A$9,1-million to buy the remaining 20% stake in the Zara project, from Dragon Mining.

By Charles Wyatt (Minesite) – Not very often we start a mining article with a combined geography/history lesson, but in this case the only way to make sense of the recent moves by a number of mining companies into Eritrea is to understand exactly where the country is, what surrounds it, and what has been going on there.

The region is described loosely as the Horn of Africa but a close look at a map shows that the real Horn juts out south of Djibouti into the Gulf of Aden and largely consists of Somalia, with Ethiopia to its west and north. Djibouti has coast along the Red Sea and Somalia has a massive coastline in the Gulf of Aden as well as the Indian Ocean. That is where the pirates lie in wait for their victims, remember?

Ethiopia, however, has no coastline at all and that is why it has for generations made a pest of itself to Eritrea which cuts it off from the Red Sea, running all the way up from Djibouti to Sudan, with Egypt a bit further to the north.

Before the Second World War Eritrea was an Italian colony, but was taken over by the British in 1941. Once the war was over, in 1952, the United Nations decided to establish it as an autonomous entity federated with Ethiopia as a compromise between Ethiopian claims for sovereignty and Eritrean aspirations for independence. Ten years later the Ethiopians tried to annex it, triggering a war which lasted for more than 30 years. The result was victory for Eritrea which declared independence in 1993, leaving Ethiopia landlocked. The two countries hardly became good neighbours, with the issues of Ethiopian access to the Eritrean ports of Massawa and Assab, and unequal trade terms, souring relations. In 1998 there was another flare-up that lasted a couple of years and again it was Ethiopia trying to get access to the Red Sea.

Since 2000 there has been an uneasy peace, with Eritrea trying to rebuild its economy after a devastating period of war. It sits, however, in a difficult area and every time there were problems in Sudan, Djibouti or Somalia near its border, Eritrea was held responsible by the UN. This culminated in the adoption of a package of sanctions against Eritrea last December.

What has to be seen in the background of all this is the dark art of US diplomacy. The US wanted its favoured candidate Ethiopia to have access to the Red Sea and found Eritrea much too independent for its liking. Eritrea is fighting its corner to get the sanctions lifted.

In the meantime, as Ambassador Tesfamicael Gerahtu pointed out in London yesterday, the country is straining every muscle to become self-dependent in food production and improve education and health services.

Anyone arriving in the capital of Asmara today could easily think the plane had been re-routed to Italy, according to Rupert Baring of gold explorer London Africa. There are wide streets, Italianate architecture and a coffee culture, with plentiful cafes.

The people he describes as proud, independent and honest and he has never seen any sign of the corruption endemic in so many parts of Africa. These are just some of the reasons why mining companies, big and small, are taking a serious look at Eritrea. The biggest reason of all, however, is the fact that the country is unexplored in modern times and underneath Eritrea, as well as under the other countries in the Horn of Africa, lies the Arabian-Nubian Shield which is an exposure of pre-Cambrian rocks on the flanks of the Red Sea. The Shield also crosses over into Jordan, Saudi Arabia, and Yemen. In the north it’s exposed as part of the Sahara Desert and Arabian Desert, and in the south in the Ethiopian Highlands.

The Arabian-Nubian Sheld was the site of some of man’s earliest geologic efforts, principally the Egyptians who extracted gold from the rocks of Egypt and north east Sudan. New gold discoveries have been made in Sudan, Eritrea, and Saudi Arabia. Last week Tim Goyder, executive chairman of the Australian gold explorer Chalice Gold Mines, was passing through London and he laid out a map which showed that his company’s Zara and Koka projects lie on the same pre-Cambrian shield as Centamin’s Sukari gold mine in the Western Desert of Egypt. For reasons of history and politics, the amount of modern gold exploration that has taken place in Egypt – Centamin apart – is modest, but none at all has taken place in Eritrea until recently. Someone has to be the original pioneer, and it appears to be the Canadian company Nevsun in this particular case. Nevsun is bringing its high grade gold, copper and zinc Bisha deposit into production later this year.

Tookie Angus, chairman of Nevsun, confirms that the Bisha project has received continuous support from the Eritrean government, which granted the mining licence in January 2008. Bisha will be the first modern-day mine in the country, with production slated to return over a million ounces of gold, 9.4 million ounces of silver, 734 million pounds of copper and more than one billion pounds of zinc during its life. The really interesting aspect, however, is the deal between Nevsun and the government of Eritrea. Under existing Eritrean mining legislation, the State of Eritrea has an automatic right to a free carried 10 per cent interest, but under an agreement with Nevsun it also has an additional 30 per cent paid participating interest. This 30 per cent contributing interest was agreed upon in October 2007, with a provisional US$25million payment made to Nevsun. The remaining balance to be paid to Nevsun will be determined by an independent valuator, and will be based on the net present value of 30 per cent of the project, as evaluated upon the first shipment of gold from the mine.

Not for Eritrea the black empowerment requirements of South Africa which so often end up with a 26 per cent stake in mining companies being effectively stolen by entities which have no intention of paying their way as partners. The Nevsun deal is straightforward stuff, with the Eritrean government setting out to get a significant stake in a project which should ensure it a satisfactory return. And it goes further than this. The Ministry of Energy and Mines is helping to organise a regional Geo-Conference in Eritrea in September which will showcase the potential for mining. It is especially interesting that Centamin has been invited from Egypt, La Mancha with its Hassai VMS mine, from Sudan, and Citadel which has the Jabel Sayed copper gold deposit, from Saudi Arabia. The whole region underlain by the Arabian-Nubian Shield is being represented, and little Eritrea is taking the lead. And that’s hardly what the UN envisaged when it put in the sanctions at the behest of the US.

There are now getting on for 20 mining companies active in the country. The Chinese are there, the Koreans are there, and now some of the big boys are following the juniors in. The country has a very sensible mining code, modelled on the Australian one. Antofagasta, one of the world’s largest copper producers is in a joint venture with the Canadian company Sunridge Gold on the Adi Rassi copper gold project within its Asmara project, and Anglo American is involved in the Thani–Ashanti Alliance. Newmont is also said to be taking a close look, which is another reason for the UN to reconsider its decision on sanctions. The Amir of Qatar not only owns the Asmara Place Hotel, where Brits and locals alike watch English football in the Green Bar, but is also building a summer home at Massawa overlooking the Red Sea. Eritrea, with a history that has precluded any exploration in modern times, is the new frontier and everyone is taking a look. The reaction from mining companies and fund managers alike has been universally positive, so this is likely to build up into a big story even if it is one that will not hit the headlines in the States.

Sunridge Gold Corp. (SGC/TSX.V) (“Sunridge”) is pleased to announce that Sunridge and Antofagasta Minerals S.A. have commenced a new drilling program at the Adi Rassi copper-gold prospect within the Asmara Project, Eritrea, which is within the Exploration Areas and part of the joint-venture exploration funding agreement with Antofagasta Minerals announced October 2, 2009. The Adi Rassi copper/gold prospect is located about 8 kilometers southeast of the company’s Debarwa high-grade copper/gold VMS deposit. The program will consist of at least four holes totaling 1,200 meters of diamond drilling.

The copper and gold mineralization at the Adi Rassi prospect is associated with quartz veins and breccia zones along a major shear zone that trends northeast and dips steeply to the west. This mineralization is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. Alteration associated with copper mineralization can be seen at surface in a zone that measures about 80 meters wide along a strike length of approximately 500 meters.

From 1971 to 1974 the prospect was evaluated by the Ethio-Nippon Mining Company and a drill program of 11 diamond drill holes comprising 2,170 meters of core were completed over a 550 meters of strike length. The best results from this historic drilling were 41.3 meters of 1.77% Copper (DDH EN-7) and 33.6 meters of 1.5% copper (DDH EN-4).

Note: The above drill results are taken from the report “Adi Rassi Copper Prospect — Ore Resources Evaluation” by D.J. Toogood, December 1997, Phelps Dodge Exploration Corp. While the above historical data appears to be complete and the procedures followed appear reliable, Sunridge has not completed the work necessary to verify the reported results.

DAERO PAULOS DRILLING:

All results have recently been received from the drilling of the large Daero Paulos copper target also part of the Antofagasta joint-venture exploration funding agreement. Twelve widely spaced diamond drill holes were drilled over an area of surface alteration measuring approximately 500 meters wide and 2.5 kilometers long. The program returned only a few narrow zones of mineralization.

REGIONAL TARGET GENERATION

In addition to the above drilling programs a regional target generation program is underway covering all parts of the Exploration Areas as defined in the joint-venture exploration funding agreement with Antofagasta. Stream geochemical sampling, satellite imagery analysis and local geological mapping are the main tools being used and it is hoped that this work will result in the generation of new drill targets over the next few weeks.

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 has approximately 76 million shares outstanding and approximately $5.5 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 Don Halliday or Greg Davis at the numbers listed below.

NOTES:

A Quality Assurance/Quality Control program was part of the sampling program on the Daero Paulos copper prospect. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the sampling.

Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.

The results of the Daero Paulos copper prospect drill program have been reviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and Chief Executive Officer of Sunridge.

SUNRIDGE GOLD CORP.

“Michael Hopley”

Michael Hopley, President and Chief Executive Officer