Goldrea Resources Corp.

Goldrea Resources Corp.

August 01, 2006 13:07 ET

Goldrea Resources Corp.: The Latest Drilling at Daye Extends the Jingkou Zone to the South and Adds to the Shanxi Zone at the Eastern End of the Daye Structure


The latest drilling on the Daye property has extended the Jingkou zone to the south, another 200 meters, with intersections in two holes south of the previously known mineralization. The Jingkou Zone now has eight drill holes, three surface trenches, and a shallow exploration shaft confirming the existence of a definable mineralized zone. The Jingkou Zone is expected to add considerably to the mineral resource of the property.

The assay results for the mineralized sections in the two most
recent holes are as follows:

Depth (m) Interval Averages
Hole from To (m) Au gpt (m)
GZK727 261.63 266.60 1.97 1.31 1.31 gpt/1.97 m.
GZK728 172.44 173.54 1.10 0.90 0.90 gpt/1.10 m.
GZK833 248.47 251.19 2.72 0.96 0.96 gpt/2.72 m.
GZK833 259.14 261.14 2.00 1.74 1.74 gpt/2.00 m.
GZK833 267.51 268.51 1.00 2.76 2.76 gpt/1.00 m.

Work is just beginning on the Shanxi Zone at the eastern end of the Daye structure. Earlier work by the Chinese operator had drilled two holes into this zone, Holes ZK26 and ZK86. Drill hole ZK86 intersected two mineralized sections 3.98 gpt/1.2m. at 46.8 m. and 3.47 gpt/1.5 m. at 55.02 and drill hole ZK26 intersected 1.71 gpt/1.00 m. These results are reported by the Chinese but the core is no longer available and while these results are believed to be accurate they could not be checked by Goldrea. Goldrea has added six more drill holes to the drill pattern at Shanxi and two of these have intersected significant mineralization. The latest of these is Hole GZK833 which was drilled 250 meters down dip from Hole ZK86. (See Table.) Although the development of this zone is in a preliminary stage the results to date are considered encouraging.

The shaft sinking towards the deeper part of the South Shijia Zone has reached the 77 meter mark and is progressing on schedule. To view the attached map please click on the following link:

Field mapping on the Majiakuang License some 10 km to the east of Daye has been completed and the mapping contractor is preparing the drawings and report. This presentation is expected within the month. This mapping is expected to define structures identified by the I.P. surveys done last winter.

Mapping on the Langiazhoung License, 40 km to the south, is now completed and the reports and drawings are expected within the month.

Geochemistry surveys are finished at the Nantangia License 60 km. south of Daye where I.P. surveys indicate the presence of sulphides. Results are pending.

This press release was prepared by Norm Tribe, P.Eng., a Qualified Person pursuant to National Instrument 43-101 and is the engineer supervising the ongoing exploration and development in 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 Toronto 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.

Contact Information