Goldrea Resources Corp.

Goldrea Resources Corp.

December 04, 2007 06:00 ET

Goldrea Resources Corp.: Progress Report on China Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2007) - Larry W. Reaugh, President & Chief Executive Officer of Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FRANKFURT:GOJ) is pleased to report on the following progress of their Chinese gold properties:

1. Golden Rose Shaft. - Surface plant construction is ongoing. The head frame is complete including sheave, the hoist construction is complete and the drum, transmission and motor are in place. Buildings are 35% complete. Underground work is expected to commence by mid December 2007 (see link to photos:

2. Ludi Joint Venture with 3rd Brigade (70% GOR, 30% 3rd Brigade). - Final approval is expected from the government by mid December 2007. The property is the southern extension of the Dhiyia zone where the 3rd Brigade completed 7 diamond drill holes with the most significant result being 4.24 g/t AU over 9 meters (see press release dated July 6, 2006: The holes are approximately 200 meters south of the Goldrea/Rushan diamond drill hole GZK810 which returned 4.09 g/t Au over 5 meters (see press release dated October 11, 2005).

3. Daye Mine Acquisition. - Acquisition of an 80% interest in the operating Daye Gold Mine (1750 TPD) is still on track to be completed in February 2008. Goldrea now has earned a 90% interest in all the claims immediately east, west and south of the operation. Three drills are currently conducting exploration drilling to enhance the NP 43-101 reserve estimate (see press release dated January 19, 2007: (due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field)) whereby indicated resources are 331,175 ounces and inferred resource are 275,968 ounces of gold.

4. The Company will be focusing its attention on the Daye Acquisition and development only. Management is currently examining the potential of acquiring significant assets in North America.

This news release has been reviewed by Dick Addison, P.Eng. a qualified person recognized under NI 43-101.


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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