Goldrea Resources Corp.

Goldrea Resources Corp.

November 09, 2010 13:12 ET

Goldrea Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2010) - Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FRANKFURT:GOJ) ("Goldrea" or the "Company") announces that the Company has closed its Private Placement announced in its news release dated October 13, 2010.

The total amount raised pursuant to the private placement was $475,080 which was comprised of 7,918,000 units ("Units") at a price of $0.06 per Unit.

Each Unit is comprised of one common share in the capital of the Company (a "Share") plus a two year share purchase warrant (a "Warrant). Each Warrant entitles the holder to purchase one common share at a price of $0.10 per share at any time up to 5:00 pm (Vancouver Time) on November 5, 2012. All of the securities issued pursuant to the private placement have a hold period expiring four months and one day after the closing date.

The proceeds of the private placement will be used for general working capital. The Company has paid finder's fees totaling $27,828 and issued 128,000 broker warrants, in connection with the private placement.

About Goldrea Resources Corp.:

Goldrea Resources Corp. is a mineral exploration and development company that is engaged in the acquisition, exploration and development of mineral properties in North American and China.


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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