Lima, Peru, March 12, 2013 (GLOBE NEWSWIRE) -- The GraystoneCompany (OTCQB: GYST) announced today that the Company'sheavy equipment arrived yesterday at the mining siteGorila. The mining crew is currently setting up theequipment and expects to begin operating the equipment this week.Once the equipment is operational it is expected that the Companywill be able to produce 50 - 75 grams of gold per day. The Company had previously been limited in the amount of gold itcould produce until it filed its environmental impact study withthe Ministry of Mines in Peru. The Company filed theenvironmental impact study on February 5, 2013 and can now begin tofully utilize the heavy machinery in Peru. Aspreviously disclosed the Company expects to beable to mine 9-10 months per year and we are now in the rainyseason. During the rainy season in Peruand virtually all roads around the mining sites getwashed out and flood the mining sites.With the rainy reason issubsiding in Peru the Company can begin to mine more days per monthto approximately 22 days per month Expansion of Operations on Gorilla The Company is in the process of acquiring an excavator to beused on Gorilla; now, that the Company's operations are no longerunder the limited production requirements. The companyexpects that the excavator will increase gold production toapproximately 100 grams a day. The Company estimates theexcavator will cost approximately $150,000. The Company will build a 2nd Pod on Gorilla as soon as itobtains the excavator. The 2nd Pod is expected toincrease gold production to a total of approximately 150 grams perday or approximately $1.7 million in yearly revenues (subtractingpurity levels and refining fees). The Company estimates thesecond pod will cost between $200,000 and $300,000.
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