Sunrise Updates Eldorado Drilling and Increases Private Placement
28.05.2013 | FSCwire
Armstrong, British Columbia CANADA, May 28, 2013 /FSC/ - Sunrise Resources Ltd. (SHI - TSX Venture), is pleased to report that drilling of Sunrise's Eldorado property is ongoing by Colorado Resources Ltd. (TSX-V: CXO), which holds an option to acquire up to a 75% interest in the property. This was confirmed by Colorado during an excellent presentation which they made at the World Resource Investment Conference in Vancouver on May 27. This presentation, which highlighted their recent discovery to the north-west of Imperial Metals' Red Chris group of claims, included a significant discussion of their ongoing drilling of the largest block (D) of Sunrise's 100% owned Eldorado Property which is approximately 7-8 kms on strike to the northeast from the Red Chris mine area in a similar geological corridor and is contiguous with the Red Chris group of claims.Due to the high interest in Sunrise's private placement announced May 7th, a decision has been made to increase the size of the financing to up to $500,000 (up to 3,333,333 units). All other terms as previously announced remain the same except that the company will, as necessary, pay finder's fees in cash and/or shares in accordance with the applicable policy of the TSX Venture Exchange.
According to Irvin Eisler, Chief Executive Officer and President of Sunrise: "I am delighted at the high interest in our latest financing and was not surprised to be approached by multiple prospective investors at the World Resource Investment Conference. This is an exciting time for our company and we look forward to receiving the assay results from the current drill program on our Eldorado Property as well as commencing our own drill programs on our other properties in BC."
For further information, please contact:
Sunrise Resources Ltd.
Responsible Officer: Irvin Eisler, CEO and President
Telephone: (250) 546-6559
Email: i_eisler@telus.net
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.