Mr. James Elbert reports

GOLDREA ANNOUNCES PROPERTY ACQUISITION AND PRIVATE PLACEMENT

Goldrea Resources Corp. has entered into a letter of intent with Ram Exploration Ltd. to acquire a package of mineral claims referred to as the Cannonball property, comprising 1,490 hectares. The property is located approximately 15 kilometres northeast of the former Snip mine in the Iskut River district of northwestern British Columbia. This region has hosted some high-grade gold discoveries, including the past-producing Eskay Creek mine and the Brucejack mine currently under construction. In addition to the high-grade gold discoveries, this district also hosts world-class porphyry copper-gold deposits, including Imperial Metals' Red Chris mine, Seabridge Gold's KSM project, Teck/Novagold's Galore Creek project and Teck/Copper Fox Resources' Schaft Creek project.

According to the British Columbia Ministry of Mines, previous exploration work in the late 1980s identified gold-bearing quartz veins and stockwork zones within the claim area now covered by the Cannonball property.

Consideration of the acquisition will consist of two million shares of the company and a 2-per-cent net smelter return royalty, of which the company can purchase 1 per cent from the holder at any time for the sum of $1-million. The acquisition is subject to acceptance by the Canadian Securities Exchange and completion of due diligence by the company.

The company also announces a non-brokered private placement for gross proceeds of up to $360,000 by way of a six-cent unit offering. Each unit will consist of one common share and one-half common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of 12 cents for a period of one year following closing. Proceeds from the placement will be used to finance the company's administrative expenses, and if the acquisition of the Cannonball property is completed, fieldwork on the newly acquired property. All securities issued under the private placement will be subject to a four-month hold.

The company also wishes to report that it has terminated its joint venture agreement with Canadian Mining SA due to unfavourable market and local conditions. The company continues to retain a presence in Peru and is pursuing opportunities to take advantage of investments made to date and relationships built in the region. Details of the joint venture can be found in the company's news release of May 5, 2015.

We seek Safe Harbor.