FOR IMMEDIATE
RELEASE
CHINA/GOLDEN ROSE MINE EXPLORATION AND DEVELOPMENT UPDATE
February 6, 2009 - Vancouver,
British Columbia
Goldrea Resources Corp. (TSX.V-GOR; Frankfurt-GOJ, Pinksheets-GORAF)
(the �Company�) reports that underground development is progressing extremely
well at the Golden Rose Mine in Shandong
Province, China.
As
of December 25, 2008, 2,093 meters (6,865 feet) of lateral development and 280
meters (918 feet) of raises have been completed on five levels from the 235
meter (771 feet) deep shaft; additionally 160 meters (525 feet) of sumps
(sufficient to hold 12 hours of water inflow) and a pumping system has been
installed.� The shaft, surface plant and
underground ventilation system have been completed.� Nearly 12,000 tonnes of gold sulphide
material primarily from the development crosscuts has been stockpiled on
surface to be shipped to the mill at 20,000 tonnes.
The
Company has entered into an agreement with the Daye Gold Mine to continue the
exploration and development underground.�
The cash flow from the 20,000 tonne underground stockpile material
should pay for the ongoing extensive development underground.� The cash flow will be split 90% Goldrea and 10% Daye. �
Mineralization
is developing nicely with assays to 21.30 g/t Au (0.621 oz/t) as follows:
Level 1 � No samples reported, 130
meters (426 feet) of lateral development
Level 2 � 520 meters (1,706 feet) of lateral development
Sample
Location
|
Total Sample Length
|
Assay
Au
g/t
|
Assay
Au
oz/t
|
(m)
|
(ft)
|
Drift Xcut
Main
|
5.3
|
17.4
|
2.32
|
0.068
|
West Drift Main
|
4.2
|
13.8
|
3.57
|
0.104
|
West B Drift
|
19.0
|
62.3
|
5.0
|
0.1458
|
Includes
|
2.0
|
6.56`
|
12.95
|
0.378
|
|
|
|
|
|
West Xcut
#1
|
7.0
|
23.00
|
2.42
|
0.071
|
West Xcut #2
|
7.5
|
24.6
|
4.25
|
0.124
|
West Xcut
#4
|
3.0
|
9.8
|
2.62
|
0.076
|
West Xcut
#6
|
5.5
|
18.0
|
|
|
Includes
|
1.5
|
4.9
|
21.30
|
0.621
|
|
|
|
|
|
East Drift Main
|
8.0
|
26.2
|
6.88
|
0.201
|
Includes
|
2.0
|
6.7
|
15.50
|
0.452
|
|
|
|
|
|
East Xcut
#1
|
9.0
|
29.5
|
3.31
|
0.097
|
East Xcut
#2
|
2.5
|
8.2
|
2.15
|
0.063
|
East Xcut
#3
|
7.5
|
24.6
|
2.71
|
0.079
|
East Xcut
#4
|
1.5
|
4.9
|
0.65
|
0.019
|
East Xcut #6
|
1.5
|
4.9
|
3.60
|
0.105
|
East Xcut
#7
|
3.0
|
9.8
|
6.00
|
0.175
|
East Xcut
#9
|
1.5
|
4.9
|
1.55
|
0.045
|
East Xcut #11
|
4.0
|
13.1
|
4.58
|
0.134
|
East Xcut
#13
|
1.2
|
3.9
|
2.10
|
0.061
|
Level 3 � 608 meters
of lateral development
Sample
Location
|
Total Sample Length
|
Asay
Au
g/t
|
Assay
Au
0z/t
|
(m)
|
(ft)
|
Main N/S Drift
|
2.0
|
6.6
|
2.50
|
0.073
|
Main N/S Drift
|
13.5
|
44.3
|
2.8
|
0.082
|
West Main Drift
|
19.8
|
64.9
|
2.54
|
0.074
|
West Raise
#1
|
12.0
|
39.4
|
1.66
|
0.048
|
West Xcut
#3
|
4.5
|
14.8
|
1.1
|
0.032
|
West Xcut
#5
|
8.0
|
26.2
|
1.3
|
0.038
|
|
|
|
|
|
East Main Drift
|
22.0
|
72.2
|
2.51
|
0.073
|
East Xcut
4
|
1.5
|
4.9
|
2.80
|
0.082
|
Level 4 � 710 meters
of lateral development
Sample
Location
|
Total Sample Length
|
Asay
Au
g/t
|
Assay
Au
0z/t
|
(m)
|
(ft)
|
Main N/S Drift
|
8.5
|
27.9
|
2.29
|
0.067
|
West Main Drift
|
4.0
|
13.12
|
2.18
|
0.064
|
West Drift
|
15.4
|
50.5
|
2.32
|
0.067
|
West Drift
|
4.4
|
14.4
|
5.35
|
0.156
|
|
|
|
|
|
West Xcut #1
|
8.8
|
28.9
|
5.70
|
0.166
|
Includes
|
2.20
|
7.2
|
13.50
|
0.394
|
West Xcut
#3
|
1.5
|
4.9
|
1.80
|
0.052
|
|
1.5
|
4.9
|
4.20
|
0.122
|
|
1.5
|
4.9
|
10.04
|
0.293
|
|
|
|
|
|
West Xcut
#5
|
1.5
|
4.9
|
5.85
|
0.170
|
|
1.5
|
4.9
|
2.10
|
0.061
|
|
1.5
|
4.9
|
4.95
|
0.144
|
|
1.5
|
4.9
|
3.50
|
0.102
|
West Xcut
#7
|
3.0
|
9.8
|
2.98
|
0.087
|
West Xcut
#9
|
6.0
|
19.7
|
2.76
|
0.080
|
|
|
|
|
|
East Drift
|
11.0
|
36.1
|
1.93
|
0.056
|
|
|
|
|
|
East Xcut
#1
|
1.5
|
4.9
|
2.05
|
0.073
|
|
1.5
|
4.9
|
1.40
|
0.041
|
East Xcut #3
|
4.5
|
14.8
|
4.07
|
0.119
|
Includes
|
1.5
|
4.9
|
6.95
|
0.203
|
East Xcut
#3
|
7.5
|
24.6
|
1.54
|
0.045
|
East Xcut
#5
|
7.5
|
24.6
|
2.25
|
0.066
|
Includes
|
1.5
|
4.9
|
5.80
|
0.169
|
Level 5 � 125 meters of lateral
development; 160 meters of sumps; no samples reported.
Note:� oz/ton is troy ounces per short ton (2,000
lbs); all other units are metric.� Assays
are done in the Daye Mine Laboratory by standard assaying methods.� Goldrea has verified
that these methods agree closely with checks run by approved Canadian assay
labs.
Updates
will be reported when they are received.
This
news release was reviewed by Norm Tribe, P.Eng.,
a qualified persona recognized under NI-43-101.
GOLDREA RESOURCES CORP.
Larry W. Reaugh,
President and Chief
Executive Officer
Information
Contact
Larry W. Reaugh
President and Chief Executive Officer
Head Office: 2A 15782
Marine Drive, White Rock, B.C.� V4B 1E6
Telephone: 604-531-9639��� Facsimile: 604-531-9634
Email: info@goldrea.com
www.goldrea.com
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