Gryphon Resources Acquires 11 Exploration Properties in Stage One of Its Arizona Lithium Exploration Program

APACHE JUNCTION, Ariz., Nov. 23, 2010 /PRNewswire-FirstCall/ -- Gryphon Resources Inc. ('Gryphon' or the 'Company') (OTC Bulletin Board: GRYO) today announced it has acquired exploration rights to 11 mineral properties in south-eastern Arizona, USA commencing stage one of Gryphon's new lithium exploration program.

President and CEO Alan Muller said: "Following our Board and management changes mid-year, Gryphon undertook a strategic review of how best to deploy resources to yield the greatest returns for our shareholders. This strategic review indicated that lithium exploration projects currently have excellent potential based on the recent dramatic increase in worldwide demand for lithium due auto industry product innovations and other related technologies." Mr. Muller continued: "The acquisition of exploration rights to these eleven Arizona properties fits well into this strategic plan and we expect to move forward quickly with implementation of a composite exploration operational plan."

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995

Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements  are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Gryphon Resources Inc.

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