SOURCE: GreenGold Ray Energies, Inc.

GreenGold Ray Energies, inc.

February 17, 2009 09:18 ET

GreenGold Ray Energies (Symbol: GRYE) Engages U.S.A. CPA for Audits of 2008 Financial Reports, to Be Certified According to U.S.A. GAAP

First 300 Hectares of Jatropha Seeds Set for Harvest in Spring of 2009

CAGAYAN DE ORO, PHILIPPINES--(Marketwire - February 17, 2009) - "GreenGold Ray Energies (PINKSHEETS: GRYE) announces today that in order to retain the filing status as a U.S.A. fully reporting company, GreenGold (GRYE) has engaged the services of a U.S.A. Accountant from Arizona to prepare GRYE's 2008 Annual Financial Statement Report, which will be Certified under the U.S.A. GAAP by a CPA from Nevada who is currently registered with the U.S. Securities and Exchange Commission's Public Company Accounting Oversight Board ("PCAOB")," reports CEO Manolo Tecson.

"Fueling the Future" -- GreenGold is set to have its first harvest of the Jatropha seeds, otherwise known as "The Seed of Hope," from its first 300 hectares Jatropha plantation in the Philippines starting in the Spring of 2009.

It is expected that the next Jatropha harvest from the 3,000 hectares will be ready in the Fall of 2009. Additional 20,000 hectares of Jatrophas should also be ready by the end of this year and thereafter, thus increasing the Jatropha feedstocks. GreenGold has exponentially increased its farm land acquisitions and working alliances with land owners. The jatropha seeds germination, propagation and cultivation also multiplied tremendously. It is estimated that by the year 2010 thereafter, GreenGold will cover almost 100,000+ hectares of Jatropha farm lands in the island of Mindanao, Philippines.

GreenGold Ray utilizes its refinery to convert Jatropha seeds into oil as the renewable and alternative energy source of biofuels. The jatropha oil biodiesel is the alternative fuel of choice, has been tested and used in the aviation industry, and will not only reduce our dependence on imported fuel, but also leads in the protection of public health, the environment and natural ecosystems. Having GreenGold Ray Energies (GRYE) at the helm, is a response to the international agreement made under the United Nations Framework Convention on Climate Change (UNFCCC). GreenGold aims to help reduce the amount of carbon dioxide emissions and other greenhouse gas effects.

"We have no doubt that our biofuel project will be successful," reports CEO Manolo Tecson as he added, "According to the recent market on Jatropha prices, this first harvest could potentially generate approximately $338,000 USD per month as an initial revenue for GRYE during the first half of 2009!"

GreenGold Ray Energies develops its own biofuel green renewable technologies in the most unique way of propagating Jatropha, as well as the formulation of an environmental protection program in compliance with the EPA Requirements. GreenGold expands its mission and vision to help make the world a safe place to live in through environmentally friendly and world acceptable clean fuel consumption, as the company addresses the environmental impact. The jatropha oil biodiesel production is the viable alternative answer to our longtime battle against the use of hazardous gasoline additives and/or oxygenates. GreenGold Ray Energies will continue to respond to the global needs of developing renewable alternative green energy technologies; as one of the Jatropha growers and producers, GreenGold is always mindful to produce renewable alternative green fuels.

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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