Goldrea To Focus on Advanced Rushan/Goldrea Joint Venture
June 30, 2011 - Vancouver, British Columbia
Larry W. Reaugh, President & C.E.O. of Goldrea Resources Corp. (GOR-TSX.V; Frankfurt-GOJ; Pink Sheets-GORAF) (�Goldrea� or the �Company�) announces that it has decided not to maintain its interest in the Rushan Ludi Goldrea Gold Mining Inc. Joint Venture (�Rushan Ludi JV�), which holds exploration lands adjacent to its primary interest in Shandong, China, the Rushan Goldrea Gold Inc. Joint Venture (�Rushan/Goldrea JV�) in which the Company holds a 90% joint venture interest in the NI 43-101 Indicated Resource of 174,000 ounces and related infrastructure.
The Company has determined that the cost to the Company of maintaining its interest in the Rushan Ludi JV, mainly $1,100,000.00 is not justified given the current stage of development of the Company�s primary holdings in Shandong, China.
About Goldrea Resources Corp:
Goldrea Resources Corp. is a mineral exploration and development company that is engaged in the acquisition, exploration and development of mineral properties in North American and China.
GOLDREA RESOURCES CORP.
Larry W. Reaugh,
President and Chief Executive Officer
Information Contact
Larry W. Reaugh
President and Chief Executive Officer
Head Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@goldrea.com
www.goldrea.com
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company�s website at www.goldrea.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient�s spam filters frequently block receiving emails containing the full Cautionary Notice.
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The Reaugh Group | 2a 15782 Marine Drive | White Rock, BC V4B 1E6, Canada |
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Goldrea Resources Corp.
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EXPLORATION STAGE |
CODE : GOR.V |
ISIN : CA3814281018 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Goldrea Resources is a gold producing company based in Canada. Goldrea Resources holds various exploration projects in Canada and in China. Its main exploration properties are DOBBIN II, CROWREA, DOBBIN I, FLAP, EMPRESS, UNGAVA and BX CLAIMS in Canada and DAYE in China. Goldrea Resources is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 753 800 as of today (US$ 691 536, € 516 093). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 0.85, and its lowest recent point on July 30, 2014 at CA$ 0.01. Goldrea Resources has 75 380 000 shares outstanding. |