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Enter Symbol
or Name
USA
CA



Goldrea Resources Corp (2)
Symbol GOR
Shares Issued 61,160,441
Close 2023-09-07 C$ 0.025
Market Cap C$ 1,529,011
Recent Sedar+ Documents

Goldrea assumes option agreement for King property

2023-09-07 11:30 ET - News Release

Subject: GOR news release 2023.09.07 Word Document File: '\\swfile\EmailIn\20230907 081823 Attachment news release 2023.09.06 v2.docx' Goldrea Assumes Option Agreement to Acquire King Property September 7, 2022 - Vancouver, British Columbia Goldrea Resources Corp., (CSE:GOR, Frankfurt:GOJ, OTC-US:GORAF) ("Goldrea" or the "Company") is pleased to announce that it has entered into an agreement with Tana Resource Corp. ("Tana") whereby Goldrea will have the option to acquire a 50% 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 August 10, 2023 Goldrea will assume Tana's remaining obligations under a 50/50 joint venture agreement with Garibaldi Resources Corp. ("Garibaldi") dated October 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 October 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% interest. Garibaldi has consented to the assignment. Jim Elbert, Goldrea's President and CEO, 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 favorable, 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." For more information, please contact: James Elbert, President and CEO Telephone: (604) 559-7230 Email: jelbert@goldrea.com The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

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