Elray Resources, Inc.
OTC Bulletin Board : ELRA

Elray Resources, Inc.

October 14, 2008 06:30 ET

Elray Resources: GPX Aeroscience to Execute Aeromagnetic & Radiometric Survey on Heavily Mineralized Cambodian Property

LAS VEGAS, NEVADA--(Marketwire - Oct. 14, 2008) - Elray Resources, Inc. (OTCBB:ELRA), a technically-driven gold and precious metal mineral exploration company, announced today that it has hired GPX Aeroscience Pty Ltd, a highly respected Australian aeromagnetic and radiometric survey company, to survey 90km sq of its Porphyry Creek prospect in Northern Cambodia.

"The awarding of this contract marks the commencement of exploration activities in what the Company considers to be one of its key Cambodian prospects," commented Mr. Barry Lucas, Executive Chairman of Elray Resources. "This is the first time the area has been explored using modern techniques and technology. Our consulting geologists commented that the area contains the ideal conditions for intrusion related gold deposits as well as copper mineralization and these surveys are expected to provide clear targets."

The Porphyry Creek Prospect is a grass roots project situated in the north of Cambodia. The total area in the prospect is 9,000 hectares and the company owns 100% of the project. The Company's consulting geologists for this project were Behre Dolbear Australia Pty Ltd (BDA), part of Behre Dolbear & Company Inc., founded in 1911 and the oldest continually operating mineral industry consulting firm in the world.

About Elray

Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of four highly prospective, heavily mineralized mining tenements in Cambodia and Mexico. Elray Resources, Inc's, primary objective is to source potential and viable projects, conduct geological assessments and seek Joint Venture partners to develop the properties. Elray Resources, Inc's 100% controlled entity in Cambodia is Angkor Wat Minerals Ltd.

Please visit www.ElrayMining.com.

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.

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