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

Goldrea Resources Corp.
Molycor Gold Corp.
TSX VENTURE : MOR
PINK SHEETS : MLYFF
FRANKFURT : M1Y

Molycor Gold Corp.

March 29, 2006 13:58 ET

Molycor Gold Corp. and Goldrea Resources Corp.: Acquisition of Moly Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2006) - Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FWB:M1Y) and Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FWB:GOJ) are pleased to announce the acquisition for the cost of staking claims covering the Empress Molybdenum occurrence.

The claims are contiguous to the northwest boundary of the Crow Rea Group of Claims. The acquisition covers the old Empress Molybdenum occurrence which was drilled by Anaconda America Brass ("Anaconda") in 1969 and 1980. The drilling consisted of 10,143M of diamond drilling and 3,428 metres of percussion drilling as reported by T.H. Carpenter, P. Geo. In a report by Discovery Consultant's Ltd., dated August 31, 1994.

Results of the diamond drilling are not available but results from the percussion drilling (in 6 of the 42 holes) have values of up to .084% MoS2 over 48.8 metres starting at a depth of 9.15 metres as described in an assessment report by Luca Riccio, Project Geologist for Anaconda dated May 1982.

The Claims are underlain by granodioritic and quartz monzonitic, phases of the Jurassic Okanagan Batholith. Mineralization consists of fracture-controlled veinlets and disseminated molybdenite-pyrite in quartz-Kspar alteration zones of equigranular quartz monzonite and granodiorite.

This release was prepared by Dick Addison, P.Eng, a qualified person under NI 43-101.

On Behalf of Management

Larry W. Reaugh, President and C.E.O.


The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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