Goldrea Resources Corp.: Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2011) - Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FRANKFURT:GOJ) ("Goldrea" or the "Company") is raising, by way of a non-brokered private placement, $100,000 through the issuance of 1,000,000 units ("Units") at a price of $0.10 per Unit.

This private placement has been fully subscribed.

Each Unit is comprised of one common share in the capital of the Company plus a two year share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one common share at a price of $0.16 for two years from the date of issue.

This private placement could be subject to finders' fees which will be paid in accordance with the TSX Venture Exchange policies and is subject to the approval of the regulatory authorities.

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. 

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.