Ram Gold & Exploration, Inc., formerly Gaia Resources, Inc., announced today that it has completed contract negotiations with AMR Project Peru, S.A.C. relating to its Letter of Intent between the parties in order to begin drilling and exploration on the AMR property with the intent to commercialize the properties operations. In December 2007, RAM Gold entered into a letter of intent with AMR Project Peru, S.A.C., (AMR), to acquire and develop certain mining leasehold interests held in Peru.

AMR owns certain mining and concession rights to 500 hectares of land in northern Peru. Because the name AMR could be perceived to be somewhat confusing with other U.S. companies having similar names derivations, the Company decided to utilize the letters AMR but change the order of the letters to RAM in the formation of its new corporate name. It is the intent of the Company to explore, develop, operate and put the AMR property into production.

The AMR property is in an exploration and development stage and mineral reserves have not been amply substantiated and additional exploration and drilling must be realized to better ascertain the mines potential reserve values.