Peru, Lima, Feb. 7, 2013 (GLOBE NEWSWIRE) -- The GraystoneCompany (OTCQB: GYST) announced today that the Company'sjoint venture has acquired an excavator for its project inSuriname. The excavator will immediately begin building out theroads necessary to begin mining operations on the property. The crew will also use the excavator to clear the land so theCompany's employees can build out the mining camp which includesbuilding of the housing for the workers, the kitchen facilities andthe shower and bathroom facilities. The company expects that it will commence mining operationswithin 8 weeks in Suriname. The project currently has a 20ton per hour wash plant that will conduct alluvial miningoperations. Additionally, the project has a 5-ton per hourstone crusher and has access to an additional three (3) 5-ton perhour stone crushers. Once the joint venture hascompleted building out the mining camp it can commence miningoperations. The Company expects the crews will operate 24hours a day 5 days a week once mining operationscommence. Additionally, the equipment currently on-sitewill allow the joint venture to operate both an alluvial miningoperations and a hard rock operation simultaneously. The Suriname Project The project, referred to Suriname #1, is approximately 3-4 hoursfrom the closest major city. The Company expects that the projectwill produce 200-400 grams per day or 4,000 - 6,000 grams per monthor $200,000 to $300,000 per month per Pod. The Company expects to expand the operations on Suriname #1 byadding a Pod each quarter. Each Pod is expected to cost about$250,000 in equipment and is expected to produce 200-400 grams perday or 4,000 - 6,000 grams per month or $200,000 to $300,000 permonth. The Company's goal is to have 4 Pods within 18 months beingable to produce 16,000 - 24,000 grams per month or approximately$1,000,000 in revenue each month.
Peruvian OperationsThe Company expects that it will provide an update on itsoperations in Peru next week. About The GraystoneCompany. The Graystone Company, Inc. is a U.S.-basedmining and exploration company focused on acquiring and developinggold and other mineral properties. The Company's strategy is tobuild value for shareholders by the identification, acquisition andexploration of early-stage properties that show significantpotential for the discovery of gold. The Company sells gold andsilver to retail buyers via www.graystonegold.com. Notice Regarding Forward-Looking Statements in this press release which are not purely historical areforward-looking statements and include any statements regardingbeliefs, plans, expectations or intentions regarding the future.Actual results could differ from those projected in anyforward-looking statements due to numerous factors. Theseforward-looking statements are made as of the date of this newsrelease, and we assume no obligation to update the forward-lookingstatements, or to update the reasons why actual results coulddiffer from those projected in the forward-looking statements.Although we believe that any beliefs, plans, expectations andintentions contained in this press release are reasonable, therecan be no assurance that any such beliefs, plans, expectations orintentions will prove to be accurate. Investors should consult allof the information set forth herein and should also refer to therisk factors disclosure outlined in our annual report on Form 10-Kfor the most recent fiscal year, our quarterly reports on
CONTACT: Contacts: The Graystone Company, Inc. Paul Howarth (702) 289-4827 email@example.com www.graystone1.com