GRYEF Au Min Africa Pty Ltd (CE)

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) today announces the newly assigned CUSIP No. Y 28860 107 and ISIN No. PHY28860 1073 assigned for the Re-Incorporation to the Philippines; a new stock Symbol is to be issued by MDI Nasdaq. Concurrent to the company's change of jurisdiction to the Philippines, the Board hired First Public Securities Transfer Corp as the new Transfer Agent effective Nov. 24, 2008. GRYE looks forward to the smooth transition of these changes and corporate action.

On Nov. 24, 2008, Tracee Tolentino of Wallstreet.Net interviewed CEO Manolo Tecson on the significance of the company's alternative green technology industry. Click on the following links.

http://tv.wallst.net/r/3-minute-press/Manolo-Tecson/353/1409/

http://www.wallst.net/tools/quote/ticker/grye

GreenGold is in full compliance having a positive impact to the community and its environment protection. GreenGold continues to abide in the implementations of the rules and regulations as set forth by the Philippines SEC. As part of the compliance, the company is obliged to meet other legal permits coming from the Department of Trade and Industries (DTI) and to the Local Government Unit (LGU).

GreenGold can make any business transaction and do more joint-ventures with any interested government agencies, or prospective companies and/or individuals, in collaboration to the investment to this emerging and growing alternative green energy industry. It is our mission to make our planet safe with acceptable fuel consumption for the protection of the world's environment.

All procedural guidelines had been passed and implemented through Presidential Decree (PD) 1586: Philippine Environmental Impact Statement Systems (PEIS) Republic Act (RA) 8749: Philippine Clean Air Act and now the Republic Act (RA) 9367 or the BioFuel Act of 2006. These legislations are viable alternative answers to our longtime battle against the use of hazardous gasoline additives and/or oxygenates. The use of Jatropha oil as an alternative to natural oil and gasoline to fuel our transportation needs, will not only reduce our dependence on imported fuel, but will also lead to the protection of public health, the environment and natural ecosystems.

QUESTION OF ETHANOL VS JATROPHA POSED TO GREENGOLD:

"I have been unable to find any research indicating the fuel economy of GRYE's biofuel as compared to current petrol diesel in use today. In the last 6 months several major fuel stations in the US have began mixing ethanol in with their gasoline at the pump. This has resulted in a greatly decreased fuel economy in our vehicles. My personal experience with this is I own a car that gets 20mpg, after using gas mixed with ethanol my fuel economy dropped down to 14mpg. I'm curious if we could be looking at the same decrease with the jatropha biofuel."

GreenGold Ray Energies, Inc. R & D Technology Team of Scientists and Engineers Answers:

ADVANTAGES: (a). Jatropha Crude Oil is biodegradable; (b). Non toxic (c). With a much higher flash point (130 degrees centigrade) than petrodiesel (62 degrees centigrade). Biodiesel is classified as non flammable liquid by Occupational Safety and Health Administration (OSHA), far safer in an accident than one powered by explosively combustible gasoline or petrodiesel. (d). It is the only alternative fuel that runs in any conventional, unmodified diesel engines. (e) It can be used alone or mixed in any ratio with petroleum diesel fuel. (f) Biodiesel is about 10% oxygen by weight and contains no sulfur and approximately 80% less carbon dioxide emissions. (g) When burned in diesel engines, it smells like popcorn or french fries. (h). The use of biodiesel will also reduced the following emissions: (1) carbon monoxide, (2) ozone-forming hydrocarbons, (3) acid rain-causing sulfur dioxide (i). It can extend the life of diesel engines. (j). When properly blended, i.e. B20, it has the same MPG (mile per gallon) as petrodiesel.

Disadvantages: (a) It is more expensive than petrodiesel, good for the biodiesel producers!!! (b) It is less suitable for use in low temperature, the ''cloud point'' which the fuel starts to appear cloudy indicating that wax crystal have begun to form. (c). The biofuel becomes a gel that it cannot be pumped, but it will corrected using special heating system (d). Tend to reduce fuel economy vehicles running on pure biodiesel therefore expected to achieve 10% fewer miles per gallon; blending with petrodiesel is very important to achieve the same MPG as petroleum diesel.

"Having GreenGold Ray Energies at the helm, in response to the international agreement made under the United Nations Framework Convention on Climate Change (UNFCCC), GRYE aims to lead in the reduction of the amount of carbon dioxide and other greenhouse gases effects. We have no doubt that our biofuels project will be successful and profitable," reports CEO Manolo Tecson.

ABOUT THE COMPANY:

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing biodiesel, green technology, environmentally-friendly and alternative energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land ideal for the cultivation of the jatropha plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants (for more information about the jatropha plant: http://en.wikipedia.org/wiki/Jatropha_biodiesel).

Forward-Looking Statements

Forward-looking statements in this release include statements regarding the Company's projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. 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.

CONTACT: Investor Relations: HarDeep Phone USA 1-718-785-9609 ext. 1 e-mail: Email Contact URL: www.greengoldenergies.com