Elray Resources Provides Overview to Analhi Project Located in Mineral-Rich Region

Elray Resources, Inc., a technically driven gold and precious mineral exploration company, is pleased to provide an overview of the Analhi Project, located in a mineral-rich region of Sinaloa, Mexico.

The Analhi Project is located 50 kilometers to the east of Guasave City at Sinaloa state, about 10 kilometers from water and power supplies, 30 kilometers away from a railroad station and about 120 kilometers from the pacific sea port of Topolobampo.

Mexico is amongst the world’s largest metal producers and represents a major mineral exploration ground. In a report on the mining industry written by Cecilia Costero, she describes Mexico as almost entirely mineralized with an estimate of 85% of mineral reserves yet untouched despite the 10,380 mines which have already been exploited.

And, Ned W. Schmidt, publisher of The Value View Gold Report, predicted that gold may well benefit from the proposed government financial bailout plan. “With the Federal Reserve now forced to monetize vast quantities of U.S. government debt, Federal Reserve credit will grow rapidly. As that is base from which money is created, quantity of dollars will grow. As quantity of dollars rises, the value or price of those dollars will decline.”

He continued, “As that happens, the dollar value of gold will rise. The U.S. financial bailout plan in essence puts a rising floor under the dollar price of gold.”

Elray Resources, Inc. is a junior exploration and development Corporation which has successfully accumulated a portfolio of four highly prospective, heavily mineralized mining tenements in Cambodia and Mexico. Elray Resources primary objective is to source potential and viable projects, conduct geological assessments and seek Joint Venture partners to develop the properties. Elray Resources 100% controlled entity in Cambodia is Angkor Wat Minerals Ltd.
For more information please visit www.ElrayMining.com