N E W S R E L E A S E
Grayd Expands Drill Program at La India Gold Project
Vancouver, BC, April 12, 2010 . . . Grayd Resource Corporation (TSX-V: GYD) is expanding its current drill program at the La India Gold Project in Sonora State, Mexico by an additional 9,000 metres, more than doubling the planned drilling in the first half of 2010 to 15,000 metres.
Grayd?s President and Chief Executive Officer, Marc Prefontaine, stated: ?The decision to expand our drill program is a direct result of the success we have experienced to-date exploring areas outside the current resource zones on our 260 square kilometre land package. We are extremely encouraged with the previously reported near-surface gold mineralization that has been intersected on the La India Zone discovery located between our Main and North zone resources. We are also encouraged by large zones of intense alteration and anomalous gold within intrusive rocks underlying this higher grade mineralization that indicate a large mineralizing system. Consequently, a number of additional drill holes are planned over the 800 by 600 metre target area. At the Tubos target, located 2 km east of the Main Zone resource, we are completing the first holes in a 1.2 by 1.0 km area that has similar geology to the Main Zone area and a number of 0.3 to 1.6 g/t Au surface samples. A third target, Tarachi located 6 km north of the North Zone resource, will also be drilled. All three exploration targets ? La India, Tubos and Tarachi - are very large and prospective targets and warrant at minimum an additional 3,000 metres of drilling per area to further evaluate their potential.?
Grayd also provides the following update:
1. A new resource calculation is currently in progress and should be completed in the next few weeks.
2. A team of engineers has been on site completing the necessary field work to undertake a Preliminary Economic Assessment study (PEA).
3. Two drills are currently working. They are focussed on the La India, Tarachi and Tubos targets. Tarachi and Tubos have never been drill tested prior to this year.
4. Environmental assessment required for mine permitting has been ongoing for the past 18 months and is well advanced.
The 260 square kilometre La India gold project is located in the prolific Mulatos gold belt of Mexico's Sonora state. The project has a NI43-101 compliant gold resource of 559,000 ounces grading 1.01 g/t in the indicated category and 318,000 ounces grading 1.05 g/t in the inferred category, all at a 0.5 g/t cut-off grade. The resource consists of 17.2 and 9.4 million tonnes of indicated and inferred material, respectively. This same district hosts Alamos Gold's Mulatos mine, which produced 178,000 ounces of gold in 2009 and has a reported mining reserve of 2.4 million ounces.
Hans Smit, P.Geo., VP Exploration for Grayd, is the Qualified Person directing the exploration at La India. Samples are sent to the ALS Chemex facility in Hermosillo for sample preparation, and then to the ALS Chemex laboratory in Vancouver for gold assay and ICP. QA/QC procedures used include assay standards and blanks.
Grayd Resource is a growth-oriented junior natural resource company focused primarily on exploring and developing a large land position in Mexico which is highly prospective for gold mineralization. The Company's Officers and Directors are experienced in all aspects of mineral exploration, development and production and have been involved with several successful mining projects during the past 20 years. For further information, please contact Marc A. Prefontaine ? President and CEO (604-681-7446) or www.grayd.com
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
The information in this news release may contain forward-looking statements. When used in this release, words such as ?estimate?, ?expect?, ?anticipate? and ?believe? as well as similar expression are intended to identify forward-looking statements. Such statements are used to describe management?s future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date the statements were made. The Company does not update forward-looking statements continually as conditions change.