12 October 2022

SUNRISE RESOURCES PLC

("Sunrise" or the "Company")

Bulk Sampling - Hazen Pozzolan Project, Nevada, USA

Sunrise Resources plc is pleased to announce the start of a collaborative arrangement with an existing processor of natural pozzolan for mining and test grinding of a bulk sample of the Company's Hazen natural pozzolan deposit in northern Nevada.

This follows successful laboratory testing of the Hazen pozzolan by both parties and the test programme will provide further information on the mining characteristics and grinding behaviour of the Hazen natural pozzolan on a commercial scale. Approximately 250 tons of natural pozzolan will be extracted and processed at no cost to Sunrise.

Mining equipment is being mobilised and the bulk sample is scheduled to be mined and delivered to the process plant this week for processing as soon as facilities allow. The owner of the process plant is already involved in the processing and marketing of natural pozzolan.

Commenting today, Executive Chairman Patrick Cheetham said:

"Whilst there is currently no obligation on either party to enter into a further agreement at this stage, this is an important collaboration. The other party has the processing facilities and marketing network in those regions targeted by the Hazen Project to commercialise the Hazen deposit in the future and the deposit is well located close to rail.

Our progress at the Hazen Project does not detract from our focus on the more advanced
CS Pozzolan-Perlite Project in Nevada as the two projects target different regional areas of cement and concrete demand served by a range of different cement and ready-mix companies.

We look forward to advancing the Hazen Pozzolan Project alongside the
CS Project, and to providing further news from our Pioche Sepiolite Project in Nevada where Tolsa, the world's largest producer of sepiolite, recently applied for a permit to carry out a large trenching programme."

A schematic plan showing the location of the CS and Hazen pozzolan deposits and their target markets is available on the Company's website at:   https://www.sunriseresourcesplc.com/hazen-pozzolan-project

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Further information:

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

About the Hazen Pozzolan Project

The Hazen Pozzolan Project is located in Churchill County in Northern Nevada 20 miles by road from the town of Fernley and 24 miles by road from the County town of Fallon.

The Company's mining claims were staked in June 2021 to cover a deposit of glassy pumice targeted as a natural pozzolan. Pumice is currently mined elsewhere in the US as natural pozzolan and at Hazen was mined as a lightweight aggregate from a shallow open pit some decades ago.

The markets for natural pozzolan, as a replacement for cement and fly ash in concrete, are regional and reflect the distribution of the main areas of high population density where concrete demand is highest.

The Hazen pozzolan deposit is just 9km from a rail siding on the arterial east-west  Union Pacific line and is therefore well positioned for rail transport to the regional markets of northern California, points east, as well as the local markets around Reno and northern Nevada.

Its location is therefore complementary to the Company's CS Pozzolan-Perlite Project which is targeting different cement and concrete markets in southern California and the expanding adjacent cities of Las Vegas and Henderson in southern Nevada.

Whilst the Hazen Project is less advanced than the CS Project, the Company's laboratory testwork to date has shown that the material present in the pit is of similar high quality to the
CS Project pozzolan. It exceeds the specifications of ASTM standard C618¹ and mitigates the deleterious alkali silica reaction that occurs when concrete is made using reactive aggregates.

The Hazen pumice has the additional property that it is lightweight and so it will also be evaluated for its potential as a lightweight aggregate for use in lightweight concrete blocks and facing stones.

The Company has obtained a permit from the US Bureau of Land Management ("BLM") for removal of a bulk test sample up to 500 tons of pozzolan from the Hazen pit and has lodged the requisite financial reclamation bond with the BLM.

Further work is required to determine the extent of the Hazen deposit although indications are that the pumice extends several hundred meters beyond the limits of the existing open pit.

¹ ASTM C618 is the international standard specification for coal fly ash and raw or calcined natural pozzolan for use in concrete where cementitious or pozzolanic action, or both, is desired, or where other properties normally attributed to fly ash or pozzolans may be desired, or where both objectives are to be achieved.