Joint venture update from Goldrea's Rushan Project China

Trading Symbol: GOR -TSX-Venture

VANCOUVER, Aug. 15 /CNW/ - Goldrea Resources Corp. (GOR-TSX.V), reports
that encouraging preliminary meetings were conducted at the Daye Gold Mine
mining site between officials of the Daye Operation and Goldrea directors,
management and Norm Tribe, P.Eng.
The Daye Mine reported on the joint venture exploration drilling which
has shown the mineralized horizon down-dip from the open-pit strike zone
continues at least down to 500 meters (8.25 g/t Au over 4 meters). The zone is
open down-dip to the south and east west on strike. To date the strike extends
east west for 3.5 kilometers of which Goldrea has approximately 3 kilometers
within their joint venture concession whereby Goldrea is earning a 74%
interest.
Currently the company is conducting trenching and drilling along strike
to the west of the open pit where gold bearing mineralization was identified
from past exploration by the Daye Gold Mine.
The major concern of the Daye Mine is the depleting resource within their
concession at the open-pit operation. The 1750 TPD mill is currently running
at 300 TPD as all ore bearing material is currently being mined underground
utilizing one shaft and a decline following the down-dip extension south below
the open pit. Daye Mine officials have proposed a joint venture be established
to mine by underground or possibly by open-pit method material from the joint
venture concession. Although the company has not yet earned its interest, the
Daye Mine is anxious to exploit partial mining on the joint venture concession
in an equable profit sharing arrangement.
As the current Daye mining operation is establishing development workings
down-dip and along strike, up to the joint-venture boundaries, it's prudent
for both companies to continue mining, development and exploration on to the
joint-venture concession. The company will be examining the potential
development of underground exploration via declines on the mineralized strike
to the west which will also provide mill feed for the Daye Gold Mine.
Currently the company is in advanced discussions to joint venture the
revenue produced from mining and milling the joint venture concession. A
workable joint venture will provide the company with a much faster than
anticipated revenue stream, as well as assist in blocking out future
mineralization.
Norm Tribe, P.Eng., is currently completing a report on the continuing
drilling and trenching program as well as a proposal on developing declines to
assist in exploration and development. The company will be issuing a press
release on these new developments in the near future. Norm Tribe is the
qualified person under NI43-101 and is the engineer supervising the ongoing
exploration and development in China.

ON BEHALF OF MANAGEMENT

"Larry W. Reaugh"
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Larry W. Reaugh - President and C.E.O.

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