Elray Resources Building Presence in Areas of Known Gold Deposits

Gold Continues to Be Safe Haven During Financial Crisis LAS VEGAS, NV--(Marketwire - October 10, 2008) - Elray Resources, Inc. , a technically-driven mining and exploration company, is pleased to provide information to its shareholders on the Cambodian Gold Mining Industry. The gold mining industry within Cambodia is currently in a state of growth and although considered small-scale by international standards, the scale and extent of operations is increasing. Sector expansion has been characterized by an increasing number of miners employed, ever more complex and deeper mine excavations, and the introduction of chemical-based gold recovery techniques that represent a movement up the technology curve. In 1975 twelve gold deposits were known to exist within Cambodia having been identified by French geologists. Ten gold deposits... [read full story]