Grayd Resource Corp fka GYD

[Ed Monton]

GYD adds more land near Mulatos:

GRAYD RESOURCE CORPORATION

TSX VENTURE SYMBOL: GYD

DECEMBER 22, 2003 - 17:44 ET

Grayd Adds Large Strategic Land Package to its Holdings
in the Mulatos Belt, Mexico

VANCOUVER, BRITISH COLUMBIA--Grayd Resource Corporation (TSX
Venture: GYD) announces that it has signed a letter of intent,
through its agent, to acquire a 100% interest in the 6591.6
hectare "Triple A" high sulphidation gold property located in the
prolific Mulatos belt of Northern Mexico.

The single claim, which is situated 7 km northwest of the 3
million ounce Mulatos high sulphidation gold deposit, covers a
large area of favorable geology. The Triple A property shares
common boundaries with parts of Grayd's previously acquired La
India claims; most of the property is located to the south and to
the east of La India. The southern claim boundary of Triple A is
contiguous with Alamos Gold Inc.'s Salamandra property and the
property also shares a common boundary with Chesapeake Gold
Corp.'s Juliana property.

Triple A is a very early staged grassroots prospect underlain by
the same volcanic rock sequences hosting most of the known
deposits and showings in the Mulatos belt. Large alteration zones
with silicified ridges similar to those at Mulatos and La India
have been observed on the property. A few showings have been
reported but exploration is required to determine their
significance and to evaluate the potential for additional
mineralization. Grayd views this as a fortuitous opportunity to
acquire a significant land holding in a tightly held and emerging
gold belt.

With a land package now totaling 7,068 hectares, Grayd is the
second largest land holder in the Mulatos gold belt next to
Alamos Gold. Grayd will conduct a regional prospecting and
mapping program on Triple A in conjunction with its exploration
program on La India. It is anticipated that the field programs
will commence in mid to late January 2004.

To earn a 100% interest in the Triple A claim, Grayd has agreed,
subject to regulatory acceptance, to a series of payments
totaling US $816,000 over 5 years, which includes US $500,000 as
the final payment. The first year payments include US $3,000 upon
regulatory acceptance, US $15,000 three months thereafter and US
$15,000 in 6 months. The project is subject to a 2% net smelter
royalty with the option to purchase 50% of the royalty (1.0 %) at
any time with a payment of US $1,500,000. A finder's fee is
payable, subject to the guidelines set forth in TSX policy.

Additional details for the La India Project, including a claim
location map showing the Triple A and La India claims, are posted
on the Company's website at www.grayd.com.

On Behalf of the Board of Directors

Marc A. Prefontaine, M.Sc., P.Geo., President and Chief Executive
Officer

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FOR FURTHER INFORMATION PLEASE CONTACT:
Grayd Resource Corporation
Investor Relations
[phone]
[phone] (FAX)
Website: www.grayd.com