GRYEF Au Min Africa Pty Ltd (CE)

Green Gold Ray Energies, Inc. (PINKSHEETS: GRYE) expects tremendous supply for Crude Jatropha Oil at prices cheaper than the price contrasting with the recent soybean oil prices of about $0.32 per pound, or palm oil of $0.18 per pound. A large number of biodiesel plants in the U.S.A. have found soybean oil to be too expensive for use in biodiesel production, leading to a transition towards lower cost and lower quality feedstock.

The renewable alternative energy industry is booming and surging forward with demands globally. With fossil fuels not only being depleted but having been unfriendly to our environment due to pollutants and greenhouse gas emissions, as well as the instability of the OPEC countries, and the volatility of oil prices; the demand for alternative energy and biofuels usage has never been more apparent.

Though the current crude petroleum prices are around $50 per barrel, several market analysts are projecting a rise to above $65 per barrel in the second half of 2009. The Biodiesel profit margins for processors/producers with an abundant supply of feedstock and flexible processing technology will in large degree correspond to the price of crude petroleum per barrel. This is the reason why GreenGold is continuing to expand its jatropha plantations via working alliances with various jatropha growers in Mindanao. Six (6) out of the known twenty-two (22) Indigenous Tribal Groups of Mindanao have joint working alliances with GreenGold: the Higaonon & Maranao, of Lanao Region, the Manobo of Agusan Region, the Tiboli & Mandaya of Davao Region and the Sobanon of Zamboanga. GreenGold invites all the remaining tribal groups to ally with us as Jatropha growers.

A total of three (3) Biodiesel jatropha oil processing plants and Biodiesel Oil Refineries are targeted to be constructed by the end of 2010. Two are set in the Special Economic Zone (SEZ) sites of Nasipit and Davao. GreenGold is anxious to acquire U.S. biofuel market share by constructing its 3rd Refinery in Southern Texas.

Currently GreenGold's Refinery Site in N.A.N.I.E. (Nasipit, Agusan del Norte Industrial Estate) is in the Stage I phase. The development project located in the villages of Camagong, Talisay and Sta. Ana at Nasipit, Agusan del Norte, has a land area of 296 hectares. The site is 18 km from the Butuan Airport and adjacent from the Nasipit International Port. This will become the industrial heartland of the Caraga Agusan Region.

N.A.N.I.E. has the following distinct advantages:

--  It hosts the 63-hectare special economic zone, that means investors
    enjoy more tax incentives and privileges provided to locators of the
    Special Economic Zone (SEZ)

--  There are readily available skilled manpower of more than 4,000 who
    previously worked with the Nasipit Lumber Company

--  The area is an all season entry point to and from Cebu and Manila to
    Mindanao island

--  As an entry and exit point, it is the shortest land-access to the BIMP-
    East ASEAN Growth Area, home to a market of about 2 million people

--  Availability of cheap and abundant water and power supply

--  Network: a well paved road network and its proximity from the Butuan
    Airport allow for the efficient transfer of goods. This network connects
    NANIE to its six other Provincial Industrial Centers (IPCs) in the four
    provinces of Caraga and to other eco-zones in other regions. Alternative
    routes to increase travel efficiency are nearing completion

--  Airport: a well-maintained domestic airport approximately 20 kms to
    Bancasi Airport in Butuan City accommodates flights regularly to and from
    Manila and Cebu

--  Telecommunications, Courier Service: Philippine Postal Services and
    Home Entertainment; such as (a). ABS-CBN Regional Network Station in Butuan
    City (b). PrimeStar Cable TV; (c).  FilProduct Cable TV; (d). DXRR FM Radio
    Station are all available too
    

Technology is a very important factor in the biodiesel business. This is the reason GreenGold has developed its own unique working alliances and comprehensive range of research and development to bring forth also into Texas, U.S.A. GreenGold's technology is designed to produce Biodiesel from jatropha oil, palm oil, and coconut oil, amongst others, and to conform to ASTM 6751 and EN 14214 Standards. GreenGold Ray Energies took advantage of these factors in beginning the distribution immediately, thus facilitating in the establishment of GreenGold's presence and accounts just in time to support domestic and international production capacities of 20-60MMGY.

2009 First Quarter Research Report. Click Link below: http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=20013

About GreenGold Ray Energies Inc.

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing biodiesel, green technology, environmentally friendly and alternative-renewable energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land through working alliances and joint venture partnership with landowners and growers, ideal for the cultivation of the jatropha curcas 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.

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: Carlos R. Reyes Phone: 361-288-7349 E-mail: Email Contact URL: www.greengoldenergies.com