China Hanlong Mining Became New Major Shareholder Of Sundance Resources Limited (ASX:SDL)

Perth, Mar 21, 2011 AEST (ABN Newswire) - Sundance Resources Limited (ASX:SDL) (PINK:SUDCF) has been notified that all of the shares in the Company previously owned by Ken Talbot's estate have been transferred to Hanlong Mining.

Mr George Jones, Chairman of Sundance Resources, was contacted by representatives of Hanlong once the deal was done to express their regard for Sundance as an attractive long term investment.

Mr Jones said, "It was a friendly discussion with Hanlong and we perceive their investment positively. We consider Hanlong's decision to become a major shareholder a further indication of Chinese interest and recognition in the validity of our strategy to develop the Mbalam Iron Ore Project over the next four years."

The shares, which represent approximately sixteen percent of the issued capital of the Company, will have a deferred settlement period.

Sundance Resources' Board would also like to acknowledge the commitment and contribution of the Talbot Group and Ken Talbot (dec) investment in Sundance as the foundation to the Company's success over the course of the past four years.

Attached (see link at the bottom of the release) is a copy of the substantial shareholding notice from Hanlong Mining received by the Company today.

For the complete Sundance Resources announcement, please view the following link:
http://www.abnnewswire.net/media/en/docs/534287.pdf

Contact

Mr George Jones Chairman Sundance Resources Limited Tel: +61-8-9220-2300 Email: info@sundanceresources.com.au