Goldrea Resources Corp.: Mobilization of Shaft Driving Equipment has Begun for the Exploration Shaft Planned for Down Dip Extension of the Daye Gold Mine-China.

VANCOUVER, British Columbia -- Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FWB:GOJ) ("the Company") reports the Company has a Joint Venture Agreement to explore for minerals on an area immediately to the south of our existing license area and on which has been projected the downward extensions of the mineralization presently being drilled by the Company and reported earlier. The Company has also entered into a Letter of Intent to purchase up to 100% in the operating 1750 TPD Daye Gold Mine (see press release dated February 6, 2006).

Exploration drilling by Goldrea has identified several favorable intersections on the down dip extensions of the Daye Ore body at Pengjiakuang, Shandong Province, China. These down dip extensions are on a gently dipping structural breccia which passes out of Daye Mining Company mining license and onto the Goldrea Rushan Joint Venture Exploration Licenses and extending off these licenses to the south. Several diamond drill holes have been drilled by the 3rd brigade on this property and these results will be available in the near future. The Company has recently entered into a Letter of Intent with the Daye Mine to earn a 50% interest in the southern licenses, held by the 3rd Brigade.

Plans are underway to drive an exploration shaft into this down dip mineralization. The location of the planned shaft has been established just to the east of Hole GZK 816 and mobilization of men and equipment is underway. The planned depth of the shaft is 300 metres. This shaft will allow for lateral development along strike and provide drill access for definition drilling of the gold mineralization discovered in the exploration drilling. Lateral development off the shaft will initially be driven 250 metres either way from the shaft. The shaft and lateral development will provide access for definition drilling of the favorable intersections in holes GZK 801 (8 grams over 4.0 metres), and in GZK 802, GZK 806, GZK 809 and GZK 813 to the west and GZK 810 and GZK 811 to the east. The shaft will be 300 metres in depth and will be driven well below the mineralized structural breccia horizon in order to provide a second definition drilling access below the mineralization and further to the south. Preliminary conceptual plans are for a 2.8 x 3.3 metre four (4) compartment shaft equipped with a track fitted cage for hoisting the development muck from the lateral underground headings. This shaft will also facilitate ventilation in later mine designs. The definition drilling is initially planned for 25 metre intervals and will consist of three hole fans from drill stations cut into the drift 40 metres above the known mineralization. This will require 22 fans of 3-50 metre holes for 3,300 metres of definition drilling.

The company's representatives are actively pursuing sericite markets, to provide an outlet for the sericite produced in the milling of our gold ore. The deposit is estimated to contain 147 million tonnes of sericitic resource at a grade of 20% sericite, as indicated by the drilling completed to date. The Company has a small contract to sell their sericite product into the plastics and rubber industry at US$187.50 per tonne and is working to expand these contracts to accommodate the full production from the plant.

Engineering design and environmental permitting is progressing for a 150,000 tonne bulk test to confirm the grade and recoveries of the sericite. The product recovered from this bulk testing will be used to provide process samples for testing by the end user. Our marketing team is presently at work identifying those end users and their needs in terms of our product.

The surface drill has been moved to the western end of the structure where several trenches showed encouraging results. The results of this trenching are presently being assembled and will be published shortly.

Drill results on diamond drill holes GZK 817 returned values of 1.0 grams per tonne over 1.0 metre at 157.7 metres. Holes GZK 816 and GZK 822 did not return significant results.

A small stream sediment sampling program and five lines of I.P. are planed for the Langiazhaung License and a second drill will begin drilling on the known structure. The structure at Langiazhaung has been worked by artisanal gold miners in the past but has stood idle for some time. The structure is marked by eleven abandoned shafts and dumps containing massive sulphide mineralization with gold values up to 6.0 gpt gold. The surface has been mapped, the drill holes have been located and drilling is expected to begin as soon as the equipment and crews can be organized.

The contract has been let for Geophysical and Geochemical surveys on the Majiakuang License located 10 km to the southeast of the Daye Mine. A belt of gold deposits are being worked near the center of the license the structure appears to pass onto and through the license area. The license is on agriculturally active land and outcrops are virtually non-existent. Initially, I.P. surveys and soils geochemistry surveys will be conducted to test for possible extensions to this known gold belt into the license area. These surveys will be conducted by the 3rd Brigade, the Chinese government's Geological, and Geophysical Service. The people of this service are familiar with the geology of the area and have completed numerous surveys in the area in the past.

A small I.P. program consisting of eight lines has been recommended to the Nantanjia License south of Rushan. The 3rd brigade is preparing a bid to do this work.

Reconnaissance of the Mianbuading License has located trenching on a vein structure near the eastern edge of the license. Crews will be assigned to cleaning up these trenches, and mapping and sampling will be redone to establish the values in the structure.

The Langiazhaung License, the Majiakuang License, the Nantangjia License and the Mianbuading license are part of the existing Goldrea Resources Corp., City of Rushan, Joint-Venture Agreement.

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.

On Behalf of Management

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 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 resp onsibility for the adequacy or accuracy of this release.

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