Gray Rock Resources Ltd. announces that it has closed the non-brokered private placement of 1,500,000 units announced on July 10, 2007 at 1,635,000 units at a price of $0.10 per unit, each unit consisting of one common share and one transferable share purchase warrant. 

Each warrant will entitle the investor to purchase one additional share at a price of $0.13 until July 30, 2009.

The hold period for all securities issued under this private placement expires on November 30, 2007.

On Behalf of the Board

"David Wolfin"

David Wolfin
President

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the accuracy or adequacy of this release.