Goldrea Withdraws from Financing Offer
March 8, 2011 - Vancouver, British Columbia
Larry W. Reaugh, President and Chief Executive Officer of Goldrea Resources Corp. (GOR-TSX.V; Frankfurt-GOJ; Pink Sheets-GORAF) (�Goldrea� or the �Company�) announces that Goldrea Resources Corp. has concluded, after consultation with APEC International Investment Group Ltd. of Sydney, Australia to terminate negotiations toward closing the Binding Letter of Contract offered on behalf of Ryhat Inc. International Finance Luxembourg for an investment loan of $16.5-million US.
The Company was unable to fully satisfy the conditions of the Binding Letter of Contract Offer referenced in the previous news release of January 26, 2011. After completing an in depth review it was decided the overall conditions of the Contract Offer were not aligned with the Company to proceed and pursue the opportunity.
Goldrea is confident in the Rushan Gold Project and is currently reviewing other potential suitable financing opportunities for expansion development of the Rushan Mine located in Shandong Province of China. The mining growth in China for precious metals is very strong and the local consumer market demand for gold bullion is on an upward trend as an investment hedge against future inflation and by the uncertainty of world currency markets.
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.comwww.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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Goldrea Resources Corp.
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CODE : GOR.V |
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ISIN : CA3814281018 |
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Goldrea Resources est une société de production minière d'or basée au Canada. Goldrea Resources détient divers projets d'exploration au Canada et en Chine. Ses principaux projets en exploration sont DOBBIN II, CROWREA, DOBBIN I, FLAP, EMPRESS, UNGAVA et BX CLAIMS au Canada et DAYE en Chine. Goldrea Resources est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 753 800 CA$ (691 536 US$, 516 093 €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 0,85 CA$, et son plus bas niveau récent le 30 juillet 2014 à 0,01 CA$. Goldrea Resources possède 75 380 000 actions en circulation. |