Mr. James Macintosh reports

GRAYCLIFF EXPLORATION ANNOUNCES NEW CEO AND PROPOSED PRIVATE PLACEMENT

Graycliff Exploration Ltd.'s board of directors has approved the appointment of Arndt Roehlig as its new president, chief executive officer and a director effective immediately. Mr. Roehlig has served on numerous Canadian public company boards operating in the resource and technology sectors. As president and chief executive officer of various companies, Mr. Roehlig has raised millions of dollars for TSX Venture Exchange- and Canadian Securities Exchange-listed companies. Mr. Roehlig has decades of corporate experience in the management and development of publicly traded companies.

James Macintosh will continue to serve the board and is appointed chairman of the company.

Concurrently, the company has arranged a non-brokered private placement through the issuance of up to 4.4 million common shares at a price of 10 cents per share for aggregate gross proceeds of up to $440,000. All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The gross proceeds of the offering shall be used for general corporate and working capital purposes. The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange. The company may pay finders' fees and commissions of up to 10 per cent of all funds raised in shares or in cash.

About Graycliff Exploration Ltd.

Graycliff Exploration is a mineral exploration company focused on its 1,468 hectares of prospective ground located roughly 80 kilometres west of Sudbury on the prolific Canadian Shield. The company's Shakespeare project consists of one crown patented lease, two crown leases and 40 claims on a property associated with the historic Shakespeare gold mine. Graycliff to date has drilled over 12,500 metres at Shakespeare, with visible gold identified in multiple holes.

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