Joint Venture Agreement

Sunrise Diamonds PLC
08 May 2008


                            www.sunrisediamonds.com



                                                                     8 May 2008


                     AGREEMENT SIGNED WITH MANTLE DIAMONDS
             TO EVALUATE KIMBERLITE TARGETS CLOSE TO LAHTOJOKI PIPE


   • Targets Identified By Sunrise From BHP Billiton Database


   • Sunrise Obtains 20% Joint Venture Interest Free-Carried To Mining
     Decision
_________________________________________________________________________


Sunrise Diamonds plc ('Sunrise' or 'the Company') is pleased to report that it
has signed a Letter of Agreement with Mantle Diamonds Limited ('Mantle'), a
private UK registered diamond exploration company, giving Sunrise a 20%
free-carried interest in two kimberlite targets located close to the Lahtojoki
kimberlite pipe in the Kaavi region of central Finland.


The targets comprise two high interest electromagnetic anomalies having similar
characteristics to the anomaly caused by the Lahtojoki kimberlite pipe. They are
located 400m and 800m from the 2 hectare Lahtojoki kimberlite pipe which is
currently being bulk sampled by Mantle under a separate agreement with owner
Kopane Diamond Developments Plc as part of a full feasibility study for
development of Lahtojoki. Previous drilling at Lahtojoki has indicated a diamond
grade of approximately 35 carats per hundred tonnes.


The targets have been identified by Sunrise as a result of reprocessing of
airborne geophysical data obtained under its exclusive agreement with BHP
Billiton and are located on claims being acquired by Mantle from private company
Gondwana (Investments) SA.


In exchange for disclosing the location of the anomalies to Mantle, Mantle has
agreed to drill-test the anomalies and Sunrise will be entitled to a 20% joint
venture interest in any project resulting from the successful testing of the
anomalies, free carried up to a decision to mine.



Further information:


Patrick Cheetham, Sunrise Diamonds plc. Tel: [phone]. Mobile: +44(0) 
7767 458751

Ron Marshman/John Greenhalgh, City of London PR Limited. Tel: [phone]

Brett Miller/Roxane Marffy, Ruegg & Co Limited. Tel: [phone]



Note : The information in this release has been compiled and reviewed by Mr.
Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of
the AIM Guidance Note for Mining Oil & Gas Companies issued on March 16, 2006.
Mr Cheetham is a Member of the Institute of Materials, Minerals & Mining and
also a member of the Australasian Institute of Mining & Metallurgy.






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