Grayd Resource Corporation is a Canadian public company committed to creating shareholder wealth through the acquisition and exploration of mineral properties. Grayd's management combines strengths in geology, operations, agreements, financing and corporate management, resulting in a superior exploration team. Grayd's current focus is in North America, with gold properties in Newfoundland a copper-gold property in British Columbia, and gold and precious metal enriched VMS properties in Alaska. To build on these assets, the Company continues evaluating new exploration opportunities.

Grayd Resources Corporation     GYD   (TSVX)

 La India Au-Ag Project, Sonora.  . . . Grayd Resource Corporation has signed a letter of intent, through its agent, to acquire a 100% interest in the La India high sulphidation gold property located in the prolific Sierra Madre gold belt of Northern Mexico.  The 476.6 hectare project, which comprises two separate claims blocks (La India and La India 1) that are separated by 1050 metres, is favourably situated in Sonora State only 15 km northwest of the 3 million ounce Mulatos high sulphidation gold deposit.

Easily accessible by an all weather road, the La India property covers the western end of a large hydrothermal system that is characterized by intense argillic alteration and silicification. Three zones of gold mineralization with artisanal workings have been identified on the La India portion of the project.

The La India zone is marked by classic high-sulphidation style gold mineralization over a 1000-by-600 metre area. Argillically altered intrusive rock is exposed at lower elevations, while vuggy silica was observed above the argillic alteration and pervasive silicification on the ridge tops. A total of 9 grab samples collected from the face and walls of 3 short adits driven into the altered intrusive returned from 0.77 g/t to 6.87 g/t Au and 2.2 g/t to 39.2 g/t Ag; the mean of the nine samples is 3.82 g/t Au and 11.7 g/t Ag. In the upper portions of the ridge, quartz-barite veinlets are observed in 1-to-5 metre wide structures that commonly cut the silicified rocks. Quartz-barite and kaolin veins are also seen cutting the pervasively silicified rhyodacite volcanics throughout the area.

The La Espanola zone lies 500 metres to the northwest of the La India zone, and is marked by intense silicification with anomalous gold values over a 500-by-700 metre area. Within the zone, a 20 m wide structure can be traced for 200 metres before being lost due to a lack of outcrop exposure. The structure is best described as a hydrothermal breccia with silicified fragments of rhyodacite rock, quartz-silica infill and Quartz-barite veinlets. Five grab samples from an old cut on the north end assayed between 0.12 g/t Au to 32.5 g/t Au. Sampling of two additional structures located 300 metres to the west returned values of 3.50 and 6.10 g/t Au respectively over 1 metre. The La Cieneguita zone, located 125 meters to the west of La Espanola, is marked by an 800-by-300 metre area of intense alteration with anomalous gold values. In the center of this zone is a 10-to-20 metre wide mineralized hydrothermal breccia that can be traced for 450 metres along strike. Visible gold was observed in 2 samples collected from historic adits 300 metres apart. Twelve grab samples returned from 0.11 g/t Au to 6.21 g/t Au.  La India 1 has been subjected to very little work but alteration zones and silicified ridges are observed.

Grayd will aggressively explore the La India project over the next few months to advance the project to the drilling stage. The first exploration phase will include geological mapping and prospecting; detailed sampling and possibly trenching of the three zones identified to date, along with a soil geochemistry program covering the entire project area. Diamond drill testing of 3 zones, along with any additional targets outlined during the program, will follow.

To earn a 100% interest in the La India claims, Grayd must pay US $555,000 over 4 years, including US $15,000 upon regulatory acceptance and US $20,000 in 6 months. The project is subject to a 1% net smelter royalty with the option to purchase 50% of the royalty (0.5%) at any time with a payment of US $750,000. On a production decision, Grayd will have 9 months to pay the vendors a one-time payment of US $0.50 per recoverable ounce based on the reserves outlined in a bankable feasibility study. A finders fee of 320,000 shares is payable in two payments, as to 200,000 shares upon regulatory acceptance and 120,000 shares after one year if Grayd retains the property and proceeds into year two of the earn-in agreement.

Additional details for the La India Project, including maps, will be posted on the Company's website at www.grayd.com. For further information contact Investor Relations at (604) 681-7446.

Press Release 13Nov03