Elray Resources, Inc. earlier this week entered into a Letter of Intent to secure a prime exploration property, known as Picacho, in Ecuador's prolific and legendary El Oro Province, located in the south eastern region of the country. This announcement has taken ELRA to be one of the top volume leaders of the day.
"This area has been mined for centuries, with the district of Portovelo-Zaruma-Ayapamba in continuous mining for over 450 years," commented Mr. Barry Lucas, Executive Chairman of Elray Resources, Inc. "We are extremely pleased to have secured this strategic property and are optimistic that our exploration efforts will reward our shareholders."
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About Elray Resources, Inc.
Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia and South America. Elray Resources, Inc.'s, primary objectives are to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.
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