December 04, 2008

Sunrise inks LoI for Cao Tian iron ore mines in Hunan

It is reported that Sunrise Consulting Group Inc has signed a letter of intent with Cao Tian Iron Ore Mines in ZhuZhou City of Hunan Province in China.

The agreement gives Sunrise Consulting Group rights to mine this particular area of the region for at least 30 years and letter sets forth the basic terms and conditions under which both parties have agreed to.

Sunrise Consulting Group Inc will issue 1 million Shares of Preferred stock to own 100% of the mining rights when signing the final agreement. These shares will have guaranteed buyback options within 24 months at USD 1 USD per share and the total buyback will be USD 1 million.

This particular parcel of land stretches to 3 square miles and the mountain has estimated reserves of 3 million tonnes of iron ore that can be mined over the next 30 years.

Sunrise Consulting Group plans to rapidly move forward in accordance with terms and conditions set forth in the proposed agreement.