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The Graystone Company Announces Commencement of Mining Operations in Peru

LIMA, Peru--(BUSINESS WIRE)--
The Graystone Company (OTCQB: GYST) announced that it has begun mining operations on its mining property Gorila. Gorila consists of approximately 988 acres (400 hectares) located in northeastern Peru near the town of Borja.

Gorilla contains 0.76 grams of gold per cubic meter or 0.62 grams per ton. These results are based on 23 days of test mining operations. Based on these initial ranges the Company is estimating that the amount of gold on the Gorilla site could be in excess of $100,000,000; however, the total size of the gold deposits depends on the amount of usable land.

The Company intends to use Gorila as its base of operations in the area as the Company expands its mining operations to Graystone 2 and Graystone 4. The Company's total portfolio of mining properties totals 1,900 hectares (or 4,695 acres) or approximately 19,000,000 square meters (or 7.34 square miles).

The Company will build out its mining operations in October and November 2012 and expects to be in full production in December 2012.

These results have not been independently verified and were conducted internally to assist in determining if the property contains gold values conducive to profitable extraction. No proven (measured) or probable (indicated) reserves have been established with respect to the Gorilla project. Any references to estimated, potential and/or “inferred” reserves or resources, and any estimated values of such reserves, contained in the geological report, or set forth in any other communication (i) do not represent proven (measured) or probable (indicated) reserves within the meaning of Item 102 of Regulation S-K and the Commission’s Securities Act Industry Guide 7, and (ii) should not be relied upon by any person in evaluating the Company’s prospects at the Gorilla project.