Chilisai Phosphate Project First Ore Reserve Estimate

   28.03.2011

SUNKAR RESOURCES PLC
("Sunkar" or the "Company")


Chilisai Phosphate Project First Ore Reserve Estimate

Sunkar Resources plc (AIM: SKR) is pleased to announce its first ore reserve estimate for its Chilisai Phosphate Project in North West Kazakhstan.

The ore reserve estimate has been prepared by Wardell Armstrong International Limited (“WAI”) in accordance with the guidelines of the Australasian Code for Reporting Exploration Results, Mineral Reserves and Ore Reserves, 2004 (“JORC”).

Ore Reserve Estimate

The reserve estimate covers 40% of the Licence Area and is based on the digitised data for that part of the deposit only. This is the area closest to the proposed fertiliser plant site and for which a resource estimate was published in January 2010. The resource report estimated a JORC compliant resource in the Measured and Indicated categories of 293 million tonnes with a grade of 10.6% P2O5 at a 5% cut-off grade for a total of 31 million tonnes contained P2O5.

The current Proven and Probable Reserves estimate of 265 million tonnes will support Sunkar’s plans to produce over 1.6 million tonnes of ammoniated phosphate fertilizer per annum for over 26 years and confirms the assumptions made in the preliminary results of the Feasibility Study announced on 4 February 2011.

Work continues to digitise the available historical data for the remainder of the Licence Area.

The Competent Person, Dr Philip Newall, Director of Minerals, WAI has reviewed and approved the contents of this announcement in accordance with the AIM Note on Mining and Oil & Gas Companies (June 2009). Dr Newall BSc (ARSM), PhD (ACSM), CEng, FIMM has over 21 years experience of providing consultancy services to minerals companies throughout the world.


Serik Utegen, Chief Executive Officer of Sunkar commented:

“We are delighted with the ore reserve estimate which is an important milestone in demonstrating the economic viability of the Chilisai Phosphate Project. Wardell Armstrong’s assessment corroborates the estimate prepared by SNC Lavalin’s for the mining plan which was a part of the recently announced Preliminary Information Memorandum and which will constitute the raw material foundation for the Feasibility Study expected to be completed by the middle of this year.”

For further information please contact:

Sunkar Resources plc
Serikjan Utegen, CEO Tel: +44 20 7930 8678
Donald Sinclair, CFO

Ambrian Partners Limited
Richard Swindells Tel: +44 20 7634 4700
Matt Einhorn

Bankside Consultants
Simon Rothschild Tel: +44 20 7367 8888
Louise Mason


Editors Notes


Sunkar Resources plc

Sunkar Resources plc, through a wholly owned subsidiary Temir Service LLP, operates a phosphate rock mine in Aktobe Oblast, North West Kazakhstan. Temir Service LLP holds a Subsoil Use Contract to part of the Chilisai Phosphate Rock Deposit. The contract area is estimated to contain 800 Mt of phosphate ore.

Sunkar's strategy is to build a world class integrated ammoniated phosphate fertilizer plant with low operating costs. Sunkar's low cost base derives from its near surface phosphate rock deposit and access to sulphur from the nearby North Caspian oil and gas fields.

Notes on JORC Code:

Ore Reserve - is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined. Appropriate assessments and studies have been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction could reasonably be justified.