Peru, Lima, May 6, 2013 (GLOBE NEWSWIRE) -- The Graystone Company (OTCQB: GYST) announced today the Company'smining operations generated approximately 120-150 grams of gold inApril. The Company expects to double the amount of its goldproduction in Peru during the month of May. The Company expects to recover approximately 850 - 900 ounces ofgold in the next 12 months. The Company experienced delays ingetting the equipment through customs in Peru and delivered to itsmining site in Peru. The Company's equipment was set up inMarch and will be in full use in May. Company's Mining Operations The Company's mining operations in Peru consist of alluvial (orplacer) mining. Alluvial mining refers to mining precious metal deposits(particularly gold and gemstones) foundin alluvial deposits - which are deposits of sandand gravel in modern or ancient streambeds, or occasionally glacial deposits. The gold deposits aremoved by stream flow from an original source such as a vein. Sinceheavy metals like gold are considerably more densethan sand, they tend to accumulate at the base of placerdeposits. The Company uses the term "System" to refer to it miningproduction operations. A "System" consists of thefollowing: · Miningproduction foreman · Crew of 12 formining (2 shifts of 8 hours each.) · Cook · Water Pumps tomove water to where mining operations are occurring · Rock pumps tomove the dirt, rocks and water · Sluice box · ShakerTables The Company expects the monthly expenses (monthly burn rate)associated to each system to be approximately $20,000 -$25,000. The Company expects the initial capital expendituresfor each system to be approximately $250,000. These expensesinclude the costs of the employees, food, gasoline, diesel, oil,grease, soda ash, travel, security, repairs to equipment, machineparts, and miscellaneous supplies. The Company expects itsbreakeven point to be approximately 20 grams of gold per daydepending on the purity levels, refining fees and easementcosts.
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