LAS VEGAS, NV--(Marketwire - April 6, 2009) - Elray Resources, Inc. (OTCBB: ELRA), a technically-driven gold and precious metal mineral exploration company, is pleased to provide shareholders with an update into Company operations.

The Company is a multi-region multi-property exploration and production mining company, focused on responsible exploitation of mineral resources and maximizing shareholder value. Management continues to actively seek out new highly prospective properties across the globe to add to its portfolio of highly mineralized properties in South East Asia.

The Company has so far assembled a portfolio of heavily mineralized and highly prospective target properties in strategic locations in South East Asia. The portfolio includes three properties totaling over 15,000 hectares in Cambodia, one of the last frontiers for precious/base metal discovery and development.

The Company also has acquired an interest in a highly promising zircon sands mining project in Central Kalimantan, Indonesia.

J.P. Morgan analyst Steve Shepherd has joined the growing consensus that expects gold prices to remain strong for years to come. In a note to clients, he wrote that gold's safe haven status has once again come to the fore because of the global financial crisis. That has strengthened investor appetite for gold and spurred on a big round of ETF buying. ETFs now own about 40 million ounces of gold, he noted, worth about US$36-billion at current prices.

"We expect increased investment demand to make up for any losses from traditional jewelry markets in India, China and the Middle East to underpin gold prices," he wrote.

About Elray Resources, Inc.

Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of highly prospective, heavily mineralized mining tenements in South East Asia. Elray Resources, Inc.'s, primary objective is to source projects, conduct geological assessments and seek Joint Venture partners to develop the properties.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with gold & precious mineral exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company's financial results is included in its filings with the Securities and Exchange Commission.