as of December 5, 2014
Sunrise has obtained an option from Colt Resources in order to acquire Colt's 67% interest in the Extra High Property, which is located north of Kamloops, BC and is known to host high grade massive sulphide mineralization. The option is subject to approval of the TSX Venture Exchange (the "Exchange"). A third party currently holds a 33% interest and is expected to be diluted.
The Company is arranging a non-brokered private placement of up to 10,000,000 common shares for gross proceeds of up to $620,000, subject to approval of the Exchange. 4,000,000 of these shares are being offered at a price of $0.05 each. 6,000,000 of these shares are being offered at a price of $0.07 each and will be "flow-through" shares. The proceeds of this private placement are expected to be used for the first year work program on the Extra High Property ($150,000), for the cash payment on the Property ($75,000), and the balance for general working capital. Closing is expected to take place prior to December 31, 2014.
Sunrise Resources Ltd. is a mineral exploration company primarily focused on copper/gold in the Quesnel Trough, located in central British Columbia. Our principal assets include the Eldorado, Man-Prime, Timothy Lake, Moffet Creek, and Rayfield River properties.
The Eldorado property, which is partly within and partly adjoining Imperial Metal's Red Chris group of claims, is currently being explored by Colorado Resources which has an option to earn up to a 75% interest.
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