Mr. Jim Elbert reports

GOLDREA ASSUMES OPTION AGREEMENT TO ACQUIRE KING PROPERTY

Goldrea Resources Corp. has entered into an agreement with Tana Resource Corp. whereby Goldrea will have the option to acquire a 50-per-cent interest in eight mineral tenures comprising 1,151 hectares, referred to as the King property. These tenures adjoin the northwestern boundary of Goldrea's Cannonball project, located in the heart of British Columbia's Golden Triangle.

Pursuant to an assignment agreement dated Aug. 10, 2023, Goldrea will assume Tana's remaining obligations under a 50/50 joint venture agreement with Garibaldi Resources Corp. dated Oct. 31, 2021. These obligations include the issuance of 850,000 common shares to Garibaldi and a requirement to incur $450,000 in exploration expenditures on or before Oct. 31, 2024. In consideration for the assignment, Goldrea has issued 100,000 common shares to Tana and will issue an additional 400,000 shares when the company acquires a 50-per-cent interest. Garibaldi has consented to the assignment.

Jim Elbert, Goldrea's president and chief executive officer, states: "Goldrea's assumption of Tana's option on the Garibaldi property is a benefit to all three companies, while expanding the footprint of Goldrea's Cannonball project in this highly prospective yet underexplored part of the Golden Triangle. Forging positive alliances by increasing Goldrea's presence in the Golden Triangle should pay dividends when the general metals market turns favourable, as we believe it will. Despite current markets, consolidation of large land packages by major companies in the Golden Triangle is expected to continue. Results of the 2023 program and plans for the 2024 field program will be announced as they become available."

We seek Safe Harbor.