RAM Gold & Exploration, Inc. Announces Contract Negotiations

Business Wire, May 15, 2008

LAS VEGAS -- 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. RAM Gold's common shares are quoted on OTC Pinksheets at www.pinksheets.com under the symbol "RMGX" and the Frankfurt Stock Exchange under the Symbol "XYO". Further information, a brief executive summary and a geological study of the project is provided as an exhibit to the RAM Gold's corporate disclosure statement as found at "Pinksheets.com" together with a geological study relating to the same and assay reports of samplings of concentrated black sands derived from the property. RMGX believes that the prospect for this property appears to be very positive though not yet proven. The mine property is found near the District of Ayapata, province of Carabaya, Department of Puno, Peru. RAM Gold's website is currently under construction.

Forward-Looking Statements contained in the above, Supplemental Information and Assay Reports relating thereto concerning the AMR Project and AMR Engineering study may contain forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences may include those discussed from time to time in reports and other corporate material and the Company cannot guarantee its future results, levels of activity, performance or achievements