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To: Claude Cormier who wrote (6608)	4/7/2004 2:16:44 PM
From: Brumell	Read Replies (1) \| Respond to of 312987

Grayd up on news....... GRAYD ANNOUNCES NEW ASSAY RESULTS ADDING THIRD DRILL-READY TARGET AT LA INDIA Grayd Resource has released results from rock chip sampling on the La Espanola zone, at its 100-per-cent-owned La India project, Sonora, Mexico. At La Espanola, a zone of strong silicification 30 to 100 metres wide has been traced for 700 metres along strike and 200 metres to 300 metres down dip. Fifty surface chip samples were taken from outcrops of massive and vuggy silica. All samples contained elevated gold values ranging from 0.02 gram per tonne to 5.03 grams per tonne, and averaging 0.62 gram per tonne gold. Highlights from the zone include a length-weighted average of 1.42 grams per tonne gold over 18 metres, including 5.03 grams per tonne over two metres. To date, Grayd has identified three high-priority high-sulphidation gold drill targets: La India, Cieneguita and Espanola, where mineralization is similar to that described by Alamos Gold at the Mulatos deposit located 15 kilometres to the southeast (2.9 million ounces averaging 1.81 grams per tonne gold -- Alamos Gold, Jan. 21, 2004, news release). A mechanical trenching program is planned by Grayd for the end of April. It is anticipated that a diamond drill program will follow in late May. To summarize the zones identified during the recently completed surface exploration program: La India Zone The La India mineralization is hosted within an intrusive rock. The intrusion and associated high-sulphidation alteration and mineralization can be traced over an area that is 1,000 metres by 700 metres. Results from sampling on this zone in a 75-metre-by-40-metre area ranged from 0.28 to 9.33 grams per tonne gold, with an unweighted average grade of 2.18 grams per tonne gold. For further details, please refer to Grayd's news in Stockwatch dated March 9, 2004. There is limited outcrop of the intrusion available for surface sampling, and mineralization is open in all directions from these samples. Trenching will be important to better define controls to mineralization. Cieneguita and Espanola Both are very large subparallel zones 500 metres apart, located just north of the La India zone. Mineralization is best described as ubiquitous low-grade gold mineralization (average grade of greater or less than 0.5 gram per tonne gold) associated with widespread silicification. A later episode of structurally controlled high-grade veins and veinlets containing hematite and native gold results in higher-grade areas that have the potential to host minable tonnage and grades. Since only the hard resistant vuggy and massive silicification is preserved at surface, diamond drilling is required to properly test higher-grade zones within the 100-metre-wide sequences, and to test recessively weathered zones of advanced argillic alteration zones in the footwall of the silicified zones. Limited sampling of the footwall zones indicates potential for higher-grade mineralization (eight metres averaging 2.73 grams per tonne gold in the Cieneguita zone). Both zones have moderate dips and present targets for open-pit heap-leach gold deposits. In addition to these more advanced targets, the three newly discovered zones on the Triple A portion of the property that were reported in Stockwatch on March 16, 2004, will be further mapped and sampled. These include the Alamillios zone that returned a length-weighted average of 3.61 grams per tonne gold and 58 grams per tonne silver over an interpreted true width of 16 metres. For further details, please refer to Grayd's news in Stockwatch dated March 16, 2004. The La India project comprises three partially contiguous claims (La India, La India 1 and Triple A) covering 7,068 hectares within the highly prospective Mulatos district in which Grayd has the right to acquire a 100-per-cent interest. Exploration is being undertaken under the supervision of Dr. Shane Ebert, PGeo, an independent qualified person under National Instrument 43-101, and Hans Smit, PGeo, vice-president, exploration. Samples were delivered to the ALS Chemex facility in Hermosillo for sample preparation, and were then sent to the ALS Chemex laboratory in Vancouver for analysis.