Elray Releases NI43-101 Report on SE Asia Properties
LAS VEGAS, NEVADA, Apr 22, 2009 (Marketwire via COMTEX) -- Elray Resources, Inc.(OTCBB:ELRA), a technically-driven mining and exploration company is pleased to announce the release of a comprehensive NI43-101 technical report on the Company's projects in Cambodia and Indonesia. The report has been released via a Form 8K on Elray's filings with the SEC as well as posted on the Company's website (www.elraymining.com).
The NI43-101, prepared by Earth Worx Geological Services Ltd. of Christchurch, New Zealand, covers the Senator, Angkor Watt and Porphyry Creek projects in Cambodia, and the Buntok Zircon Project in Indonesia. As well as reviewing history, data sources, regional and local geography, the report provides updated budgets for all the projects, as well as makes recommendations for how best to develop the properties and maximize shareholder value.
"The completion of this report represents a major milestone and we are very encouraged by data that Earth Worx have so far collated," commented Mr. Barry J. Lucas, Executive Chairman of Elray Resources, Inc. "These are very exciting times at Elray, with our highly promising projects covering gold, copper and zircon in Cambodia and Indonesia. All three commodities we are focusing on have performed well in recent month, putting us in a potentially very strong position."
About Elray Resources, Inc.
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia. Elray Resources, Inc.'s, primary objective is to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with gold & precious mineral exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company's financial results is included in its filings with the Securities and Exchange Commission.
SOURCE: Elray Resources, Inc.
CONTACT: Elray Resources, Inc.
Jake Harris
Investor Relations
(347) 410-9782
ir@ElrayMining.com
www.elraymining.com
