ELRA Elray Resources Inc (PK)

Elray Resources, Inc.(OTCBB: ELRA), a global exploration and production mining company with a portfolio of valuable properties is pleased to inform shareholders that according to a recent Geologist's report, the "Cristina" vein in Elray's Picacho property in south-eastern Ecuador is "a very important gold-bearing structure."

The vein is located on the north-west side of the concession and has a N-NE direction, with a continuity between one and two kilometres.

Mines are found in the area starting from 1360 m. a.s.l. to 800 m. a.s.l., at a depth known of mineralization of at least 500 m. The potential of veins vary from 0.40 m. to 1.40 m. and have an angle of inclination which ranges from 70° to 90° on the NE.

The Cristina vein is part of an epithermal system of gold, with milky quartz which is hard but fragile, which contains sulphide minerals such as calcopyrite (copper), of esphalerite (zinc) and galena (lead).

"There is no doubt that this is a gold-bearing structure," commented Barry Lucas, Elray's Executive Chairman. "We are now developing a strategy for extracting the maximum possible economic value from it."

"Sovereign-debt issues and currency risk remain prevalent and look set to keep gold buoyant for the foreseeable future," analysts at GoldCore recently wrote in a note. "Indeed, gold is increasingly being seen as a safe-haven currency."

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 and South America. Elray Resources, Inc.'s, primary objectives are to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.

This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the company's expectations, objectives, anticipations, plans, hopes, beliefs, intentions, or strategies regarding the future. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. 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.

Investor Relations: Barry Duane Phone: 877.379.ELRA (3572) www.elraymines.com