SOURCE: GreenGold Ray Energies, Inc.

GreenGold Ray Energies, Inc.

February 23, 2009 09:15 ET

GreenGold Ray Energies (Symbol: GRYE) Acquires Additional 5 Hectares of Existing Jatropha Plantation

Estimated First Year Gross Income Is About $4,237,248.00 and a Net Income of About $ 1,454,244.00 USD

CAGAYAN DE ORO, PHILIPPINES--(Marketwire - February 23, 2009) - GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) -- "Fueling the Future" -- announces the acquisition of an additional existing five (5) hectares of jatropha plantation, and celebrating the GreenGold's Partnership endorsement by the local government officials and tribal leaders of Camiguin Island.

The acquisition of the existing jatropha plantation is called the "GreenGold-Camiguin Shiloh Jatropha Plantation." On Feb. 24, 2009, a representative from local Cagayan de Oro News Media will feature this formal event as "the beginning of a long term working alliance and partnership of GreenGold Ray Energies and the Camiguin Island Communities." This partnership was signed by the Reverend Pastor Hector C. Gempero and endorsed by Mayor and Council members of Camiguin and by the GreenGold Ray Energies officers Manolo Tecson, CEO, and Gil Salutim, COO. The 5 hectares are registered and certified by the local government of Camiguin Province and by the Department of Agriculture.

The rich Island of Camiguin is a beautiful renowned Philippines tourist spot that requires a 2 hour vintage boat ride north from Cagayan De Oro. Camiguin already has over 5 hectares of jatrophas growing and the seeds are ready for feedstock harvesting. The people have welcomed and agreed to this partnership with GreenGold, because they see the positive effects of GreenGold providing long term livelihood to the people, and most of all the community development of the Camiguin Island which was included in the GreenGold working alliance and partnership program. This 5 Hectares is added to the rest of the jatropha plantation of GRYE, which now covers over 3,305 hectares total. The expansion to several other regions in Mindanao is covering approximately another 30,000 hectares this coming March 2009. It was estimated that the first year gross income is about $4,237,248.00 and a net income of about $1,454,244.00 USD on 1,000 hectares and 20,000 gallons of oil.

This First Year projection and Forecast of Sale to start about the Summer of 2009 is for one Biodiesel Processing Plant, with a very conservative estimate of 20,000 gallons per day operation from the first 1,000 hectares of jatropha plantations for the first half of the year 2009 productions.

INCOME                      Pesos  Equivalent  US $ Value
------------------  -------------------------  --------------------------
Jatropha Biodiesel  P 230,400,000.00-1st year  $             4,608,000.00
------------------  -------------------------  --------------------------
Jatropha Press
 Cake               P   1,353,600.00-1st year  $                27,072.00
------------------  -------------------------  --------------------------
Jatropha Residual
 (Glycerine)        P  10,828,800.00-1st year  $               186,703.45
------------------  -------------------------  --------------------------
TOTAL GROSS INCOME  P 211,862,400.00-1st year  $    4,237,248.00-1st year
------------------  -------------------------  --------------------------
NET INCOME         (P  72,712,200.00)-1st year $    1,454,244.00-1st year
------------------  -------------------------  --------------------------
TOTAL GROSS INCOME  P 211,862,400.00           $             4,237,248.00
------------------  -------------------------  --------------------------
NET INCOME          P  72,712,200.00           $             1,454,244.00
------------------  -------------------------  --------------------------

On the Second Year of Operation a minimum of 2,000 hectares will double the Income from the first year projection and multiplies more due to Higher Yield of harvest every year, higher price, less cost on the Oil Mill (equipment) and other expenses from the first year operations to five years and up to 25 years of continuous profit.

            Duration and Productivity in Metric Tons
Area       1st year 2nd year 3rd year 4th year 5th year  Total
---------  -------- -------- -------- -------- -------- --------
1,000 has    12,000   45,000   90,000  170,000  245,000  562,000
---------  -------- -------- -------- -------- -------- --------
1,000 has             12,000   45,000   90,000  170,000  317,000
---------  -------- -------- -------- -------- -------- --------
TOTAL        12,000   57,000  135,000  170,000  415,000  879,000
---------  -------- -------- -------- -------- -------- --------

CEO Manolo Tecson said, "We are very thrilled about this additional acquisition of another existing jatropha plantation in Camiguin Island. Participating in this momentous event is an ideal opportunity to share the blessings of GreenGold Ray Energies to the local community. Furthermore, the company will acquire a beachfront Satellite Office with housing accommodation for guests, such as Investors/shareholders to stay, should they wish to visit this beautiful white coral beach island and see the GreenGold-Shiloh Jatropha Plantation."

About GreenGold Ray Energies Inc.

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing biodiesel, green technology, environmentally friendly and alternative energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land ideal for the cultivation of the jatropha plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants.

Forward-Looking Statements

Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuel other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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