Gold Reach Calls Grayd Resources on Buy Back Option
August 14, 2007
Vancouver, British Columbia: Gold Reach Resources Ltd. (GRH: TSX-V) ("Gold Reach" or the "Company") has delivered to Grayd Resources Corporation notice that under an agreement that was signed October 11th 2005 whereby Grayd Resources can earn a 39% in the original Seel claims (the back in right) by spending 200% of Gold Reach’s total expenditures on the Seel project. The amount expended on the Seel property exceeded 2 million dollars on August 8th 2007 at which time Grayd Resources was given 60 days notice. Grayd Resources now has until October 8th 2007 to do its due diligence and provide the Company with its decision.
The Company wishes to advise that this option is on the original 8446 hectare Seel claims. This doe not include the land that was staked in early 2007 or the Ox Lake claims.
While the Company awaits a decision from Grayd Resources, the drill on site has been mobilized to the 100% owned molybdenum-copper Ox Lake project and commenced drilling, as per the August 13th news release.
Location Map: 2007 Ox Lake geophysics
Gold Reach Resources is a Canadian exploration company actively involved in the exploration of the Seel and Ox Lake properties a 17,149.5 hectare copper-gold-molybdenum project located 120 kilolmetres south of Houston, BC and eight kilometres to the east of the producing copper-molybdenum Huckleberry Mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President
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