SOURCE: Enterayon, Inc.

October 17, 2007 07:30 ET

Enterayon Announces Stock Buyback

SKIPPACK, PA--(Marketwire - October 17, 2007) - Enterayon, Inc. (PINKSHEETS: ETYN) ("Enterayon" or the "Company") announced today that its Board of Directors has authorized a stock repurchase program of up to five million (5,000,000) issued and outstanding shares of the Company's common stock for a period of 12 months ending October 19, 2008, commencing on Friday, October 19, 2007.

As of Tuesday, October 16, 2007, there were 64,222,627 shares of the Company's common stock issued and outstanding, a public float of 35,392,874 shares of common stock; and the closing price of the Company's common stock as of the close of business on October 16, 2007 was $0.01 per share.

Under the terms of the stock repurchase program, the Company and its affiliates may repurchase the Company's issued and outstanding shares of common stock in open-market transactions. The program will be structured to conform to the safe harbor provisions of Rule 10b-18 of Securities and Exchange Commission's 1934 Exchange Act which contains certain restrictions related to the manner, price, timing and volume of repurchases, among other conditions. Enterayon plans to fund repurchases of its common stock under the program from available working capital. Shares repurchased by the Company will be retired and deemed treasury stock.

The Company's repurchase of its shares under the program will be made from time to time during the 12 month period, at the sole discretion of the Company's management after consideration of relevant factors such as the historical and current market price of the stock, the nature of other investment opportunities or growth projects, available cash flows from the Company's operations, general economic conditions and other factors deemed appropriate. The program does not obligate Enterayon to acquire any specific number of shares and may be modified, suspended, extended or terminated for any reason at any time without prior notice.

Chairman and CEO Perry Leopold stated, "We are very pleased to offer this stock buyback program as a means to increase the value of our shares and to build shareholder value, as well as to give us additional opportunities to effectively manage our capital. We firmly believe that the repurchase of our shares presents an attractive investment for our company and for our shareholders."

About Enterayon, Inc.

Enterayon, Inc., a Delaware corporation, engages in the exploration, acquisition, development, and mining of precious metal and other mineral properties. By combining state-of-the-art technology with traditional acquisition targeting, the Company's mission is to build a portfolio of viable mining prospects throughout the world and developing them to their full economic potential.


This press release contains certain forward-looking statements within the meaning of Sections 27A and 21E of the Securities and Exchange Act of 1933, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Enterayon, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by Enterayon, Inc. or any other person that the objective and plans of Enterayon, Inc. will be achieved.

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