Grayd Resource Corp fka GYD

[Ed Monton]

GRAYD RESOURCE CORPORATION

TSX VENTURE SYMBOL: GYD

JANUARY 12, 2004 - 19:33 ET

Grayd Resource Corporation: $667,000 Non-Brokered
Private Placement

VANCOUVER, BRITISH COLUMBIA--Grayd Resource Corporation (TSX
Venture: GYD) has negotiated a non-brokered private placement of
2,900,000 units at a price of $0.23 per unit. Each unit will
consist of one common share in the capital of the Company and one
non-transferable share purchase warrant. Each warrant will
entitle the holder thereof to acquire one additional share for a
period of two years exercisable at a price of $0.30 in the first
year and $0.40 in the second year. If Grayd's shares trade above
$0.90 for 20 consecutive business days within four months from
closing of the private placement, the warrants must be exercised.
Alternatively, if Grayd's shares trade above $1.20 for 20
consecutive working days in year two, the warrants must be
exercised. This transaction is subject to regulatory acceptance.

Upon completion, the private placement will provide Grayd with
proceeds of $667,000 which will be used for exploration of
Grayd's exploration projects and for general working capital
purposes.

Grayd Resource Corporation is a natural resource company engaged
in the acquisition, exploration and development of mineral
resource properties. It has gold projects in Mexico, a gold
enriched base metal project in Alaska and a copper - gold project
in British Columbia. The Company is currently planning a surface
exploration program on its La India and Triple A high
sulphidation projects in Mexico. The program is expected to
commence at the end of January 2004. Visit our website at
www.grayd.com for the latest corporate information or contact
Investor Relations at 604-681-7446.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Grayd Resource Corporation
Marc A. Prefontaine, M.Sc., P. Geo
President and Chief Executive Officer
[phone]
[phone] (FAX)
Website: www.grayd.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.