Elray Resources Inc. announced that it has entered into a binding Letter of Intent with Golden Match. Elray and Golden Match will enter into an Acquisition Agreement in which Elray will acquire all of the outstanding shares of Golden Match. Mr. Lao Sio I will be appointed Chairman of the Board of Directors with Brian Goodman remaining as Chief Executive. Following a successful career in local government in Macao, Mr. Lao Sio I entered the gaming industry in 2003, initially as a Casino VIP host and in 2005 investing in a VIP room as a senior partner. Since that time Mr. Lao Sio I has developed the reputation of being one of the leading, influential and respected gaming promoters in the GCR (Greater China Region) having negotiated deals with the largest Casinos in Macao.