Grayd Resource Corp fka GYD

[Ed Monton]

Grayd Resource Commences Exploration at La India

VANCOUVER, BRITISH COLUMBIA--Grayd Resource Corporation (TSX
Venture: GYD) announces that exploration work has commenced on
its La India high sulphidation gold project in the Mulatos Belt,
Sonora, Mexico.

The La India Project is comprised of three partially contiguous
claims (La India, La India 1 and Triple A) covering 7,068 hectare
in which Grayd Resource has the right to acquire a 100% interest.
La India covers the western end of a large hydrothermal
alteration system that is characterized by zones of intense
argillic alteration, silicification and by the widespread
occurrence of gold. Three zones of epithermal style gold
mineralization have already been identified on the property,
specifically on the La India claim. The Triple A claim covers a
large area of favorable geology underlain by the same volcanic
rock sequences that host most of the known deposits in the
Mulatos area. The southern claim boundary of Triple A adjoins
part of Alamos Gold Corporation's Salamandra property and part of
Chesapeake Gold Corporation's Juliana property.

A program including geological mapping, prospecting, sampling and
hand trenching will be completed over the next four weeks.
Exploration work is designed to further assess the three known
zones of gold mineralization, follow-up on showings that have
seen little exploration work and prospect for new mineralization
within the three claim blocks making up the extensive project
area. Grayd Resource intends to advance the project to the
drilling stage by May 2004.

Initially crews will focus on the three known gold zones which
are located on the La India claim:

1. The La India zone is marked by classic high-sulphidation style
gold mineralization over a 1000-by-600 metre area. Argillically
altered intrusive rock (a rhyodacite dome) is exposed at lower
elevations while vuggy silica occurs above the argillic
alteration and pervasive silicification is found on the ridge
tops. A total of nine grab samples collected from the face and
walls of three short adits driven into the altered intrusive
returned from 0.77 g/t to 6.87 g/t Au with a mean of 3.82 g/t Au
(six of the samples returned greater than 3 g/t Au and four of
these greater than 5 g/t Au). An additional 55 samples were
collected from altered rock and small structures - mostly in the
pervasive silicification level above the intrusion. All but one
of the samples returned anomalous gold values. Grayd Resource
believes that this indicates potential for mineralization with
higher gold grades below the silicification.

2. The La Espanola zone is marked by intense silicification with
anomalous gold values over a 500-by-700 metre area. Thus far,
three gold-bearing structures and one zone of gold-bearing vuggy
silica have been identified. Gold values from 12 samples in the
structure range between 0.21 g/t to 32.7 g/t Au while three
samples in the vuggy silica ranged between 0. 2 and 1.44 g/t Au.

3. The La Cieneguita zone is marked by an 800-by-300 metre area
of intense alteration with gold mineralization. In the center of
this zone is a 10-to-20 metre wide mineralized hydrothermal
breccia that can be traced for 450 metres along strike. Visible
gold was observed in two samples collected from historic adits
300 metres apart. One of the samples was vuggy silica and it
assayed 6.21 g/t Au. In total, 12 grab samples returned from 0.11
g/t Au to 6.21 g/t Au with a mean of 2.20 g/t Au. Five of the
samples assayed greater than 2 g/t Au including two greater than
6 g/t Au.

Alteration and mineralization observed on La India includes
advanced argillic alteration associated with gold, gold-bearing
vuggy silica and pervasive silicification overlying the zones.
The geological setting, volcanic rocks, intrusions, style of
mineralization and alteration are very similar to those described
in the literature at Alamos Gold Inc.'s 3 million ounce Mulatos
deposit located only 7 km from Grayd Resource's property boundary
and 15 km from the La India showing.

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

Grayd Resource Corporation is a natural resource company engaged
in the acquisition, exploration and development of mineral
resource properties. It has a gold project in Mexico, a gold
enriched base metal project in Alaska and a copper - gold project
in British Columbia. 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
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