FOR IMMEDIATE RELEASE

GOLDREA UPDATES STATUS OF DAYE ACQUISITION

November 2, 2007 - Vancouver, British Columbia

Goldrea Resources Corp. (GOR-TSX.V; Frankfurt-GOJ; Pink Sheets-GORAF) reports that the application for approval of the Daye Acquisition is moving smoothly through the final steps of the process required by the Central Government of the People�s Republic of China.

As previously reported, Goldrea has received Shandong provincial approval for the acquisition.

Goldrea Resources Corp. and Guoxin Asset Management Co. Limited (Goldrea�s Chinese partner, (�Guoxin�)) submitted the acquisition application to the Central Government Ministry of Commerce (�MOC�) for final approval. MOC is completing an internal review and has submitted inquiries to the State Administration of Foreign Exchange, the State Administration for Industry & Commerce, the State Owned Assets Supervision and Administration Commission of the State Council, and the Ministry of Land and Resources. Shandong Provincial State Owned Asset Supervision and Administration Bureau, together with Guoxin made the presentation to State Owned Assets Supervision and Administration Commission of the State Council. Guoxin also submitted supplemental information to the above government departments according to their requests.

Approvals are expected no later than the first quarter of 2008.

The Daye mine is presently operating at 1800 tpd from the low grade open pit resource and the underground mine. The Company will continue to operate from the open pit once the acquisition is completed while supplementing the open pit material from the Golden Rose and Daye Shafts. The long term plan is to gradually bring all production from the down-dip mineralization as the open pit is exhausted.

Currently there are three diamond drills continuing the ongoing exploration program down-dip from the open pit.

Goldrea has earned a 90% interest in the surrounding leases and is proceeding to purchase an 80% interest in the Daye Mine and Mill Operation.

GOLDREA RESOURCES CORP.

Paul L. Blair,

Chief Operating Officer

Information Contact

Paul L. Blair

COO

Head Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6

Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@goldrea.com

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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