Markray Announces That it has Obtained Financing for Acquisition

CAMBRIDGE, Mass., Feb. 24, 2012 /PRNewswire/ -- Markray Corp (Pink Sheets: RVBR) announced today that it has obtained a commitment for the financing required to acquire the right to process an additional 50% of the reserve of gold, silver and platinum. Consequently, it shall have the right to process 75% of the stockpile that it is currently processing.

The company geologist has been on the site for the past weeks to confirm the tenure of gold and rare earth minerals in a greater area of the stockpile.

The financing was available because of the large stockpile of reserves. The details of the terms of the plan are being worked out and will be released early next week.

''The Company was presented with this opportunity to expand its operations before competitors infringe on this lucrative process of obtaining gold, silver and platinum,'' states Olga Smolnikova, president. She adds ''We shall put our experience and technology to work.''

The reserves shall be processed by a unique modular plant. 

With this acquisition, Markray will become an important player in the field of processing minerals from existing stockpiles.  This would bring unprecedented shareholder value for everyone holding stock in Markray.

Especially in Russia, there are stockpiles of tailings that were previously mined for minerals other than gold and silver. However, few companies have turned their attention to working these established stockpiles which represent a great opportunity for Markray.

Furthermore, technology is now available which allows for the recovery of gold, silver and platinum from material that was processed using old equipment and technology.

About Markray

Markray is in the business of extracting precious metals from stockpiles of raw material.  A geological audit of its current reserves concludes that there are the following minerals in the stockpile currently being processed:

The company plans to acquire additional facilities to increase its reserves. Each facility shall be processed by a unique modular plant. 

Contact:
Andrei Smirnoff
[email protected]

Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include the fluctuations in the price of gold and in the event of severe weather conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

SOURCE Markray Corp

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