Goldrea Resources Corp.
TSX VENTURE : GOR
PINK SHEETS : GORAF
FRANKFURT : GOJ

Goldrea Resources Corp.

October 11, 2007 06:00 ET

Goldrea Resources Corp.: Two Step Out Holes Extend the Tianjia Zone 600 Meters to the Southwest, Shandong, China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2007) - Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FRANKFURT:GOJ) reports that the Company is continuing to drill fill-in holes on the Jingkou zone at the western end of the structure and step-out holes to the southwest. The "Golden Rose Shaft" has reached its ultimate depth and the shaft fittings are complete. The construction of the production hoisting equipment and the associated infrastructure is nearing completion and the crews are awaiting the delivery of the hoist for installation. The delivery of the hoist was delayed due to bad weather and currency exchange procedures. This shaft is a five compartment concrete lined shaft designed for depth of 234 meters (768 feet). Hoisting equipment is designed to move 200 tpd from the Shijia zone at 210 meters and to provide hoisting capability for the southward and downward extensions of the Main Zone ore.

Drilling continues with two drill machines working full time on the Daye Property. Two more machines have been ordered to start as soon as they are available.

A new shaft, to be called the "Golden Dragon Shaft", will be collared just east of the Jingkou Zone as defined by the exploration drilling. The recommended location is at 4106900N, 40612000E. Work will begin as soon as the crews are available from the "Golden Rose Shaft" infrastructure installation. This location is subject to change depending on land acquisition agreements with the local farmers for room to put the surface buildings and access roads. This shaft will provide access to the Jingkou Zone mineralization at a depth of +/-290 meters.

Detailed drilling is required before a mining permit and mining leases are issued. This does not preclude shaft sinking for exploration purposes to provide access for both exploration drifting and underground drilling.

The use of rubber tired equipment and a decline is being investigated to work the shallower mineralization on the Jingkou and Tianjia Zones. If the ground will support a decline this mineralization becomes easily accessible without the need for a hoisting shaft. Geotechnical reports are not yet available but are expected soon.

Recent Drilling results on the Daye property include:



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RECENT INTERSECTIONS
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Hole No. From To Interval Grade
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GZK749 76.50 77.50 1.00 1.81
80.82 81.62 0.80 1.86
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GZK750 132.73 133.60 0.87 1.56
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GZK758 519.81 520.66 0.85 1.40
526.96 527.86 0.90 1.23
528.61 533.71 5.10 1.21
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GZK760 427.31 429.51 2.20 3.92
430.31 431.36 1.05 0.75
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GZK825 108.22 112.51 4.29 1.23
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GZK852 87.24 88.04 0.80 1.45
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GZK863 304.41 305.46 1.05 1.03
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Hole GZK749 was designed to provide better details on the upper part of the Jingkou Zone.

Hole GZK750 was designed to define the limits of the Jingkou zone to the east but has in fact extended the limits of the zone to the point where it may converge with the western end of the Tianjia Zone.

Holes GZK758 and 760 are new discoveries 600 meters down dip from the West Tianjia mineralization mapped on surface. The Tianjia zone is spotty nearer surface, showing good results on surface and discontinuous marginal intercepts between 100 meters and 400 meters. These two holes indicate that the mineralization reappears at depth with good grades and good widths.

Hole GZK825 is designed to better define the Main Zone Ore at the southeast corner of the pit. This area is within the pit layback design and at the boundary of Goldrea's Joint Venture and the Daye Mining Group Mining Lease.

There is a small zone of mineralization, called the East Tianjia Zone at the eastern edge of the village of Tianjia. There are two old artisan shafts on this mineralization and the artisan miners report that the grade was good. Hole 852 was designed to intersect this zone down dip and outside the confines of the village. The intersections indicate that the zone is there and is productive. There is unexplored ground down dip that provides excellent targets for easily accessible mineralization. This downward extension of the East Tianjia Zone will drilled as soon as other targets are defined. This area is cultivated with orchards and drilling will have to be done carefully and probably in the winter, so as to avoid damage to the trees.

Hole 863 may be a further indication of the East Tianjia Zone 600 meters down dip or an off-shoot of the Main Zone. Considerable fill-in drilling will be required before the East Tianjia Zone is defined.

Goldrea has been actively seeking other properties in China. These efforts have been directed toward properties in production or nearing production or in need of expansions from existing capacity. The most promising of these properties is a producing Diamond Mine near Jinan, the capital of Shandong Province. Field and underground reconnaissance and mill circuit investigations have been completed and the Company is currently contemplating negotiations to purchase a percentage of the property.

The purchase agreement for the Daye mine has been approved by the Municipal and Provincial Governments and the Company is awaiting approval from the Central Government.

This press release has been reviewed by Norman L. Tribe, P. Eng., a qualified person under NI 43-101.

GOLDREA RESOURCES CORP.

Larry W. Reaugh, President and Chief Executive Officer

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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