Sunstone Metals Ltd. announced an initial Mineral Resource estimate (MRE) and an initial Exploration Target for the Bramaderos gold-copper porphyry project in southern Ecuador. The initial MRE, from the Brama-Alba target only, reported in accordance with the JORC Code 1 is 156Mt at 0.53g/t AuEq (0.35g/t gold and 0.11% copper), for 2.7Mozs AuEq. Preliminary pit optimisation was applied to the deposit to constrain the MRE and demonstrate the potential to be mined economically by open pit methods.

In addition, the initial Exploration Target, reported in accordance with the JORC Code consists of between approximately 255 and 360Mt at a grade between 0.40 and 0.74g/t AuEq2 (gold + copper) for contained metal of between 3.3Mozs and 8.6Mozs AuEq. The Exploration Target range is in addition to the initial MRE. The potential quantity and grade of the Exploration Target is conceptual in nature.

There has been insufficient exploration to estimate a Mineral Resource for the target area reported. It is uncertain if further exploration will result in the estimation of a Mineral Resource. Mr. Norris said the results of preliminary metallurgical studies to produce a clean gold-copper-silver concentrate were positive and recent preliminary leach tests suggested that an even larger opportunity may present itself with leaching of low-grade material.

The gold equivalent calculation formula is AuEq(g/t) = (Au grade x Au price x Au recov /31.1035) + (Ag grade x Ag price x Ag recov /31.1035) + (Cu grade x Cu price x Cu recov /100)) /(Au price x Au recov /31.1035). The prices used were USD 1,800/oz gold and USD 9,500/t copper and USD 22/oz silver. Recoveries are estimated at 89% for gold, 85% for copper, and 60% for silver based on metallurgical studies.

In Sunstone's opinion all the elements included in the metal equivalents calculation have reasonable potential to be recovered and sold. population 200,000) and has a supportive community keen to benefit from all that a responsible mining development brings". The MRE is based on 53 drills for 27,338m of drilling, and 3,064 linear metres of trenching in 13 trenches.

International geological and mining consulting firm CSA Global, an ERM Group company, has prepared the initial MRE for the Brama-Alba gold-copper porphyry deposit. CSA Global completed a site visit, laboratory inspection, review of the Brama-Alba geological database and assessment of reasonable prospects for eventual economic extraction in preparation for MRE. Early-stage metallurgical testwork has been completed on a range of mineralisation styles from the Brama- Alba gold-copper porphyry deposit.

Studies were undertaken by Base Metallurgical Laboratories in Kamloops, British Columbia. The geology of other targets included in the Exploration Target show strong similarities to Brama-Alba (not uncommon in a clustered porphyry geological environment) and it is considered valid to apply metallurgical testwork results to these other areas when deriving a metal equivalent value. Sighter metallurgical test work indicate that recoveries in excess of 85% for copper and 88% for gold can be achieved with a combined flotation and leach circuit when targeting a saleable concentrate grade of above 20% copper.

Further test work, including alternative reagent and grind size regimes, will focus on improving recovery responses in a flotation-only circuit configuration to determine whether that configuration is feasible. Additional optimisation testing of the current flotation-leach selection, to further improve recoveries, will also be conducted. Additional metallurgical testwork has also commenced analysing the potential for a supplementary heap leach flowsheet targeting material currently flagged as waste due to low copper sulphide content but carrying a gold tenor above the selected cut-off.