Mr. James Macintosh reports

GRAYCLIFF EXPLORATION ANNOUNCES NEW CFO AND INDEPENDENT DIRECTOR

Further to his role as a director of Graycliff Exploration Ltd., Jason Baker has been appointed chief financial officer, replacing Julio DiGirolamo, who has also resigned as director.

Mr. Baker is a finance professional with Altus Capital Partners, a boutique investment bank based in Vancouver, B.C. Over the past two years, he has helped raise more than $35-million in equity financings for public and private companies, including Scorpio Gold Corp. and Magma Silver Corp. He has served as CFO and as a board member of multiple public and private companies, and currently serves in these roles for Magma Silver Corp. Mr. Baker holds a bachelor of commerce in finance from the University of British Columbia Sauder School of Business and an accounting diploma from Langara College.

Concurrently, the company has appointed Walter Henry, CFA (chartered financial analyst), as an independent director. Mr. Henry brings extensive experience in the finance and mining sectors, having worked with Canadian Imperial Bank of Commerce, BNP Paribas and PricewaterhouseCoopers (PwC), where he managed investment portfolios and structured project financing transactions exceeding $1-billion. Since 2003, he has held senior executive roles with Tiberon Minerals, Royal Nickel Corp., Alturas Minerals and Alexandria Minerals Inc. Mr. Henry has also served in numerous board leadership positions, including chairman of the board and audit committee chair. He currently sits on the boards of Alturas Minerals, Frontline Gold, Riverside Resources and Advanced Gold Exploration. He has a CFA designation and an ICD.D (Institute of Corporate Directors, director) designation.

Julio DiGirolamo has resigned as CFO and director as part of a planned transition to focus on other responsibilities and interests. "On behalf of the board and management, we want to sincerely thank Julio for his years of dedicated service and valuable contributions to Graycliff, and we wish him the very best in his future endeavours," stated James Macintosh, chairman.

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 a significant number of holes.

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