Larry W. Reaugh, President & Chief Executive Officer of Goldrea Resources Corp.
(TSX VENTURE:GOR)(PINK SHEETS:GORAF)(FRANKFURT:GOJ) (the "Company" or
"Goldrea"), is pleased to announce proposed gold exploration in China, British
Columbia and Arizona.


Shandong Province China

Goldrea proposes a two pronged exploration and development program for the Daye
Gold Mine/Rushan City gold project in Shandong Province, China. Chief Operating
Officer and Director, Paul Blair is consulting with Norm Tribe, P.Eng, the
Company's consulting geologist, and they are currently in China developing a
program to facilitate the mining of 100 - 200 TPD from the Golden Rose shaft as
well as to continue the development of mineral up and downdip from the shaft.
Mined material will be stockpiled until it reaches 20,000 tonnes and then be
processed at the Daye Mine. In excess of 12,000 tonnes is currently stockpiled
from mineralized cross-cuts developed underground. The plan of operation will be
reported once development plans are finalized. As reported in the February 6,
2009 press release 2,533 meters (8,308 ft) of lateral, raises and cross-cuts
have been completed. Cross-cuts assayed up to 19 meters of 5.0 grams/tonne gold
(62.3 ft of 0.146 oz/ton Au).


The Company will begin diamond drilling on the Ludi (a.k.a. Weihai Joint
Venture) located south of the Golden Rose shaft. Diamond drill hole #ZK904
drilled by the Third Brigade in 2006 on the Ludi Joint Venture ground returned
up to 4.24 g/t gold (0.124 oz) over 9 meters (29.5 ft) 200 meters south of the
Golden Rose shaft.


Arizona - (Gold Rush and Gold Chain Claims)

The Company is initiating a study to apply for permits for drilling on their
Gold Rush and Gold Chain gold properties located in Mohave County, Arizona, USA.


The Gold Rush property currently has a historical resource in excess of
(i)40,000 ounces of gold, (1.3 million tons of 1.03 g/t Au) (0.032 oz/ton gold)
which is delineated by Western States the previous operator. This gold resource
occupies a prominent detachment fault within Precambrian rocks, which are
overlain by silicified, brecciated, volcanic dome features of Tertiary Age.


The Gold Rush Claims straddle the Roadside Detachment Fault and trend northward
toward the Company's Gold Chain property, which is situated approximately one
mile to the north, and which is also located upon the same "detachment
structure". Anaconda postulated a historical resource of 3.2 million tons of
0.482 g/t Au (0.015 oz/ton Au) (i)(48,000 oz) maybe present, the Gold Chain
resource is open in all directions. The Gold Chain estimate was based upon
surface and underground samples and intercepts from four drill holes. Intercepts
range from 35 feet of 0.064 oz/ton gold to 195 feet of 0.010 oz/ton gold.


(i) Where historical estimates are referred to, the Company has no
classification of the resource or reserve, and the Company has not obtained
enough of the original data and has not done the work necessary to verify the
classification of a resource or reserve. The Company is not treating the
estimates as a NI 43-101 defined resource or reserve verified by a Qualified
Person and the historical estimate should not be relied upon. 


British Columbia - Flap Gold Property (50% Goldrea / 50% Molycor) 

The Company plans approximately 6 - 10 reverse circulation drill holes on the
Flap stockwork gold zone measuring 300 x 200 meters (885 ft x 666 ft). Earlier
drilling and trenching by Rea Gold Corp. returned up to 76.73 grams/tonne Au
(2.25 opt Au) over 1 meter (3.3 ft) in diamond drilling and 17.8 - 25.6 grams
Au/t (0.5 - 0.75 opt Au) in chip samples from the surface (reported by Gary
Medford PhD/Rea Gold Corp. ("Rea") Feb 18, 1989). The diamond drill program by
Rea was biased negatively due to the nugget effect in the mineralization.
Subsequent surface trenching by the Molycor/Goldrea Joint Venture returned up to
3.10 g/t (0.091 opt Au) over 6 meters (19.7 ft). The Company expects larger
diameter reverse circulation drill holes will better define the distribution of
gold in the system and may partially reduce the nugget effect allowing the
companies to better evaluate the gold bearing stockwork.


REVIEW

China (Gold) - Daye Gold Claims Shandong Province

Beginning in 2004 the major focus of the Company has been on exploration along
strike and downdip of the Daye Mine in Shandong Province China. The Company has
completed 60,000 meters (197,000 ft) of diamond drilling, sinking a five (5)
compartment concrete shaft to 254 meters (853 ft) and 1.5 miles (2.4 km) of
underground development in laterals, cross-cut and raises. Development material
from the cross-cuts totaling 12,000 tonnes is being stockpiled and once the
stockpile reaches 20,000 tonnes it will be milled at the Daye 1850 TPD mill
facility within the property. The Company has negotiated an agreement with the
Daye Mine to operate and develop the ore at the Golden Rose shaft and to repay
the Company from the stockpile.


An NI 43-101 Indicated Resource has been calculated by N. Tribe & Associates
Ltd. of 2.67 million tonnes at a grade of 2.03 g/tonne gold with a NPV of $12.73
million based on the current gold price of $900.00/ounce. The Company is
currently exploring and blocking out resources on the Ludi Joint Venture with
access from the Golden Rose shaft. The Ludi Joint Venture entails 90 square
kilometers south of our current resources and is an earn-in from the Third
Brigade.


Goldrea terminated its agreement to acquire the Daye Gold Mine on September 11,
2008 as no end was in site for the Central Government approval. The Company
completed the first negotiations to acquire the Daye Mine on January 12, 2006
and worked diligently to complete the acquisition over the next 32 months.


Empress Molybdenum Discovery (50/50 Joint Venture with Molycor Gold Corp.) 

Drilling of 19 BQTW diamond drill holes (3,493 meters) (11.470 ft) was completed
on a high grade near surface molybdenum discovery near Summerland, British
Columbia. N. Tribe & Associates Ltd. completed a NI 43-101 resource study in
November, 2008. The results are as follows:




---------------------------------------------------------------------------
            0.02% Mo cut-off                   0.05% Mo Cut-off
---------------------------------------------------------------------------
Indicated   3,996,155 tonnes @ 0.0605% Mo      1,703,000 tonnes @ 0.094% Mo
---------------------------------------------------------------------------
Inferred    3,498,000 tonnes @ 0.0619% Mo      1,657,498 tonnes @ 0.094% Mo
---------------------------------------------------------------------------



The deposit is open to the northeast, to the southwest and at depth. Once
molybdenum prices begin to rise the companies will commence further exploration
on the property.


Raglan Copper/Nickel/Platinum/Palladium Project

Goldrea has terminated its claim block in the Raglan area as a result of the
inconclusive results obtained by their Joint Venture partner Volcanic Metals
Corporation.


British Columbia Exploration Properties

British Columbia Dobbin I Platinum/Palladium/Copper Claims (50/50 Joint Venture
with Molycor Gold Corp.): Significant Copper/platinum and palladium
mineralization has been encountered by the joint venture companies on three
separate drill programs beginning in 1997. The programs entailing 28 drill holes
returned significant values of platinum (Pt), palladium (Pd), copper (Cu) with
Hole # 97-21 having up to 2.265 grams/tonne combined Pt - Pd and 0.54% copper
over 15 meters (49.2 ft) and 0.841 grams Pt + Pd and 0.19% Cu over 105 meters
(344.4 ft). The drill program encompassed three zones, the Central (22 holes),
Kenny 2000 (2 holes) and North Zone (4 holes). The best results were obtained in
the Central Zone as above. The Dobbin II claims are contiguous to the Flap
claims on the north west and the Dobbin I claims on their southern boundary.


British Columbia Dobbin II/Tadpole Lake Molybdenum Claims (50/50 Joint Venture
with Molycor Gold Corp.): The Tadpole Lake Molybdenum property was held by
Cominco from 1977 - 1997. Cominco carried out three separate drill programs
completing 73 percussion drill holes totaling 3,800 meters (19,026 ft). The
Dobbin II claims are contiguous to the Flap claims on the north west and the
Dobbin I claims on their southern boundary. The property hosts a quartz
stockwork zone measuring 1,000 x 1,500 meters (3,300 x 4,900 ft). The Cominco
drilling returned up to 0.063% Mo over 56 meters (184 ft). Molycor and Goldrea
completed 1,146 meters (3,758 ft) in ten diamond drill holes returning values of
0.408% Mo over 3.3 meters (10ft). The claims including, Dobbin I, II and Flap
are in good standing until December, 2016.


British Columbia Crowrea Molybdenum Project (50/50 Joint Venture with Molycor
Gold Corp.): High Grade molybdenum was discovered by the Joint Venture companies
in 1995. Subsequent drilling in 1995, 1996 and 2005 returned 4.6 meters (15 ft)
grading 2.83% Mo in Hole #96-14-56, 39.02 meters (128 ft) grading 0.164% Mo in
Hole # 95-3-9 and 10.60 meters (35 ft) grading 0.282% Mo. The Crowrea project is
located 8,000 meters (12,800 ft) east of the Empress Project within the same
claim block.


This news release was reviewed by Norm Tribe, P.Eng., a Qualified Person
recognized under NI-43-101.


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 TSX-Venture Exchange,
the British Columbia Securities Commission and the US Securities and Exchange
Commission.
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