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

Goldrea Resources Corp.

December 18, 2007 06:00 ET

Goldrea Options Yalokam Copper, Gold Moly Target Located in British Columbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2007) - Larry W. Reaugh, President & Chief Executive Officer of Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FRANKFURT:GOJ) is pleased to announce that the Company has negotiated an exclusive right to enter into an option to purchase agreement on the 11,100 hectare Yalakom property located in the Clinton and Lillooet Mining Divisions of British Columbia, Canada. By paying $6,000 (paid) to the Vendors and conducting $90,000 mineral exploration work on the Property, the Company has the exclusive right to August 15, 2008, to enter into an industry standard option to purchase agreement with a purchase structure as follows:



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Amount of Number of Exploration
Date Payment Shares Commitment
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Upon Signing $ 15,000 50,000
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12/31/2008 $ 15,000 50,000 $ 150,000
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12/31/2009 $ 35,000 150,000 $ 200,000
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12/31/2010 $ 75,000 150,000 $ 250,000
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12/31/2011 $ 100,000 200,000 $ 300,000
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12/31/2012 $ 125,000 200,000 $ 300,000
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12/31/2013 $ 250,000 200,000 $ 300,000
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TOTALS: $615,000.00 1,000,000 $1,500,000.00
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NSR Royalty and Advance Minimum Royalty payments:

Optionor will retain a 3% NSR Royalty on the Property. Optionee will have the right to purchase 2.0% points of this royalty for $4 million any time prior to the commencement of Commercial Production. Beginning on 31 December 2014 and annually thereafter, Optionee will make an Annual Advance Minimum Royalty payment of $50,000, increasing to $75,000 annually on 31 December 2018 and thereafter. The payments will be adjusted annually according to the CPI with a base of 31 December 2013. Annual Advance Minimum Royalty payments are deductible from future NSR Royalty payments.

The Property is adjacent to Barrick Gold of North America, Inc.'s Poison Mountain porphyry copper-gold deposit reported to contain an in-situ resource of 808 million tonnes grading 0.23% copper, 0.12 g/t gold, 0.007% molybdenum (CIM Special Volume 46, Paper 20, 1995). This resource estimate was prepared prior to the implementation of National Instrument 43-101 and should not be relied upon. Potential exists for discovery of other porphyry copper-gold deposits in the region, which is mostly covered by glacial tills.

The Company plans to conduct a 700 line kilometer airborne EM and Magnetics survey over the Property in the near future.

GOLDREA RESOURCES CORP.

Larry W. Reaugh, President & 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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