The Sand River Gold Project in the southern Welkom Goldfield is currently regarded as ‘an Advanced Exploration Project deemed to be beyond Greenfields and Brownfields. The reason for this confidence was the initial historical exploration done on the three farms, that was conducted by two major mining houses Anglo American & JCI,  which resulted in a positive Feasibility Study that lead to the construction of a Twin haulage system to the project area and the drilling of two cementation holes in pre sinking stage of the proposed Brandt 6 shaft on the farm Jonkersrust in the 80’s. Sunshine’s intensive research and collaboration of the masses of historical drilling results core logs geological reports and assays being updated lead to Sunshine declaring a resource.

• On 31 August 2023, Sunshine declared a SAMREC code compliant Resource of 17,63 Moz of Gold at 5,38g/t & Uranium by-product of 15,49 Mlb @ 0,07 kg/t of U3O8
• Resources based on more than 90 km of historical drilling in the Project area:
  • 41 surface boreholes and ±408 borehole deflections
  • Over 1 500 reef intersections
• Sand River Gold has the potential of becoming a major gold mine with over 35 years Life of Mine
• Next Phase is ready to commence at cost of US$10,5M:
  • Concept, Pre-Feasibility and Bankable Feasibility Studies to start immediately
  • Infill drilling of 4 surface boreholes plus deflections during Feasibility Study phase
  • Mining Right application with Department of Mineral Resources and Energy

In addition, adjacent to Sunshine’s project area, there is crucial underground development and surface infrastructure to facilitate the eventual mining of the project:

• Brand 5 shaft  is a 11,5 m diameter shaft  that would give access to the Sand River Gold reefs to 2 000 m below surface. This shaft is located only 400 metres from Sand River Gold Project Area
• A second outlet shaft is available, which is a requirement of the DMRE
• Offered to Sunshine is the use of a major gold plant near Welkom to process Sunshine’s gold ore, as this plant is in need of  ore. It will include the related infrastructure, such as the mine’s trains and modern railway track from Brand 5 Shaft to the plant, tailings storage facilities (slimes dams), etc.
• Sunshine has been given written permission to gain access to all the underground data on the three mines bordering Sand River Gold, such as chip sampling data (gold and uranium grades), survey data, resources and reserves, mine plans, geomodels, etc.

All six of the gold and uranium-bearing reefs in the Sand River Gold Project area have been extensively mined on the neighbouring operations and are well known ore bodies.