LIMA, Peru--(BUSINESS WIRE)-- The Graystone Company (OTCQB: GYST) announced that its 100% owned subsidiary Grupo Mineral Inca (a Peruvian Corporation) has claimed an additional mining property in Peru. The new property has been named Graystone 4 and is 400 hectare and is near to the Company's current mining property, Gorila. The acquisition of the additional concession increases the Company's total portfolio to 4 properties totaling 1,900 hectares (or 4,695 acres) or approximately 19,000,000 square meters (or 7.34 square miles).
The proximity of Graystone 4 with Gorilla will allow the Company to maximize its resources in the area and provide the Company with base of operations to mine Gorilla, Graystone 2 and Graystone 4.
The Company previously stated that it would provide an update on its mining operations on October 8, 2012. However, with the finalization of claiming Graystone 4 the Company will update shareholders on October 10, 2012 so the Company can incorporate Graystone 4 into its overall plan.
About The Graystone Company. The Graystone Company, Inc. is a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold. The Company sells gold and silver to retail buyers via www.graystonegold.com.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Source: The Graystone Company, Inc.