Lima, Peru, March 4, 2013 (GLOBE NEWSWIRE) -- The GraystoneCompany (OTCQB: GYST) announced today that the Company hasmade substantial progress in Suriname. The excavator hasarrived at the mining site and has begun building out the roadsnecessary to begin mining operations on the property. Thecrew has cleared the land on site and has built out the mining campwhich includes building of the housing for the workers, the kitchenfacilities and the shower and bathroom facilities. The crew has also begun digging test holes and the yields on thetest holes have been better than the Company expected. TheCompany expects that on approximately April 15 it will commencelimited mining operations moving towards full productionthereafter. The project currently has a 20 ton per hour wash plant that willconduct alluvial mining operations. Additionally, the projecthas a 5-ton per hour stone crusher and has access to an additionalthree (3) 5-ton per hour stone crushers. Once the jointventure has completed building out the mining camp it can commencemining operations. The Company expects the crews will operate24 hours 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-LookingStatements in this press release which are not purelyhistorical are forward-looking statements and include anystatements regarding beliefs, plans, expectations or intentionsregarding the future. Actual results could differ from thoseprojected in any forward-looking statements due to numerousfactors. These forward-looking statements are made as of the dateof this news release, and we assume no obligation to update theforward-looking statements, or to update the reasons why actualresults could differ from those projected in the forward-lookingstatements. Although we believe that any beliefs, plans,expectations and intentions contained in this press release arereasonable, there can be no assurance that any such beliefs, plans,expectations or intentions will prove to be accurate. Investorsshould consult all of the information set forth herein and shouldalso refer to the risk factors disclosure outlined in our annualreport on Form 10-K for the most recent fiscal year, our quarterlyreports on Form 10-Q and other periodic reports filed fromtime-to-time with the Securities and Exchange Commission.
CONTACT: Contacts: The Graystone Company, Inc. Paul Howarth (702) 289-4827 email@example.com www.graystone1.com