Gray Rock Resources Ltd. (the "Company") is pleased to announce that it has completed a mineral lease agreement covering ten claims located in Lander County, Nevada (the “JC Claims”).  The JC Claims are located in the southern Cortez trend, approximately 20 miles south of the Cortez Hill discovery and west of the Tonkin Springs property. 

The agreement is for a term of 10 years in consideration of $10,000 payable upon signing the agreement, 50,000 common shares and rent payments of $10,000 per year.  The property is subject to a royalty charge of 3% of Net Smelter Returns up to a maximum of $2,000,000 including the initial $10,000 payable upon signing the agreement and all rent payments.

The Company was incorporated in 1950 and has property located near the historic Bralorne and Pioneer Gold mines.  These mines produced in excess of 4 million ounces of gold.  Infrastructure is in place at Bralorne and a town nearby to draw skilled labour.  Custom milling at the Bralorne mill may be an option for the Company provided it is successful in finding sufficient ore.  The Company is planning exploration on the Silver Stream property in 2007 and is also looking for more projects to add value for the Company’s shareholders.