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Grand Central Silver Mines, Inc. Announces Intent to Register Common Stock Under the Securities Exchange Act

Posted on: Friday, 26 October 2007, 06:00 CDT

Grand Central Silver Mines, Inc. (Pink Sheets:GSLM) announced today that the Company has voluntarily consented to deregistration by the U.S. Securities and Exchange Commission under Section 12(j) of the Securities Exchange Act of 1934. The Company agreed to this action as a first step towards filing a registration statement on Form 10 containing current public information.

The Company expects the process will take several weeks and that its shares of common stock again be quoted for trading by market makers on the Pink Sheets after the Form 10 is declared effective by the SEC.

William Aldrich, President of Grand Central Silver Mines, Inc., said, "Due to market forces and depressed mineral prices almost a decade ago, Grand Central was unable to provide the necessary reports to the SEC. We have been working diligently during the past several months to address these issues and it was determined that it would be both impractical and prohibitive to reconstruct the delinquent reports from that time period. Consequently, we voluntarily agreed to this action as a first step towards filing a new registration statement with audited financial statements covering the past three years. As we work toward filing the new registration statement, we will keep our shareholders informed of the progress of the Company and its plans for the future. We are confident that future events coupled with the strong demand for minerals worldwide will bode well for the Company."

The Company will continue to provide information to its shareholders through press releases as developments occur. Shareholders are encouraged to contact the Company's investor relations and communications representatives at the numbers below with questions or concerns.

About Grand Central Silver Mines, Inc.

Grand Central Silver Mines, Inc. is a Utah corporation engaged in the acquisition and exploration of mineral properties believed to contain gold, silver, copper, zinc and other metals. The Company owns or controls mineral properties in Arizona, Colorado, Idaho and Utah.

Cautionary Statement

Statements made in this announcement with respect to the Company's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of the Company. Forward-looking statements include but are not limited to those using words such as "seek,""expect,""anticipate,""estimate,""believe,""intend,""project,""plan,""strategy,""forecast" and similar expressions or future or conditional verbs such as "will,""would,""should,""could,""may" and "might." These statements reflect management's current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. In light of the many risks and uncertainties surrounding the marketplace, the actual results could differ materially from those discussed in the forward-looking statements. The Company assumes no obligation to update any such statements.

Source: Business Wire

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