SRES Sunrise Resources Plc

SUNRISE RESOURCES PLC

("Sunrise" or "the Company")

SALE OF CROW SPRINGS DIATOMITE CLAIMS

Further to its announcement of 2 April 2024, Sunrise Resources plc is pleased to announce that it has received a payment of US$75,000 from Dicalite Management Group ("Dicalite"), being the balance of the purchase price for mining claims sold to Dicalite earlier this year in the Crow Springs area of Nevada, USA (the "Claims").

Key Points

·      The purchase price of US$150,000 is now received in full.

·    The Claims cover surface deposits of diatomite which Dicalite is evaluating as a feed source for its Basalt diatomite processing plant some 85km distance by road.

·    Dicalite has applied to mine an initial 1,000-ton sample and is preparing to submit a mine plan of operations.

·    Sunrise retains a royalty of US$6/dry ton of diatomite mined and removed from the Claims.

Commenting today, Executive Chairman Patrick Cheetham said:

"This payment is being made as Dicalite moves forward with its plans to start mining on the Crow Springs Diatomite Claims and takes us a step closer to the receipt of royalty payments. Raw diatomite mined from the royalty area will be processed in Dicalite's  existing processing plant at Basalt and we hope to be able to say more about future royalty payments once Dicalite's mining plans become public. We are delighted that Dicalite is pushing ahead so quickly."

Further information:

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.

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

Additional Information

The Crow Springs diatomite claims were acquired by staking in March 2021 and up to the point of sale the Company incurred costs of US$24,695 in staking and maintaining the Claims.

The proceeds from sale of the Claims are being applied towards working capital.

About Diatomite

In its raw form, diatomite (aka diatomaceous earth) is a valuable industrial rock formed by the accumulation in marine and freshwater lake environments of vast quantities of skeletal material from single celled aquatic algae called diatoms. Diatoms have hollow and lattice-like silica skeletons and the mass accumulation of these skeletons during algal blooms forms a rock with very high porosity.

After processing, which can include heating to a high temperature (calcining) to improve quality, diatomite is used, for example, in filtering beer, liquor, wine, fats, fruit juices, and solvents. Commercial deposits of diatomite have a high brightness, a low bulk density and chemical inertness which also make it a suitable filler or carrier material in various industrial and domestic products.

About Dicalite

Dicalite Management Group is a vertically integrated international industrial minerals company founded in 1928. It produces and processes diatomite (diatomaceous earth), perlite and vermiculite from 17 facilities in the U.S. and Europe comprising five strategic mines and twelve processing facilities. This includes a diatomite processing plant and associated mining operations at Basalt, Nevada, the fourth oldest continually operated mine in the state of Nevada. Two varieties of diatomite are made at Basalt, calcined and natural.

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Shares in the Company trade on AIM. EPIC: "SRES".

Website: www.sunriseresourcesplc.com