Goldrea Private Placement Over-SubscribedVANCOUVER, BRITISH COLUMBIA, Nov 03, 2010 (MARKETWIRE via COMTEX) --Goldrea Resources Corp./quotes/comstock/11v!e:gor()(frankfurt:GOJ) ("Goldrea" or the "Company") is pleased toannounce that the Non-Brokered Private Placement originally announcedon October 13, 2010 has been over-subscribed. The Private Placementnow consists of a total of 7,918,000 units at a price of
.06 perunit ("Units") for aggregate proceeds of $475,080.
Each Unit is comprised of one common share in the capital of theCompany (a "Share") plus a two year share purchase warrant (a"Warrant). Each Warrant entitles the holder to purchase one commonshare at a price of
.10 for two years from the date of issue. Allof the securities issued pursuant to this offering will have a holdperiod expiring four months after the closing date.
This Private Placement remains subject to the acceptance of the TSXVenture Exchange (the "TSX") and finders' fees may be payable inaccordance with the policies of the TSX.
The proceeds of the private placement will be used for generalworking capital.
About Goldrea Resources Corp.:
Goldrea Resources Corp. is a mineral exploration and developmentcompany that is engaged in the acquisition, exploration anddevelopment of mineral properties in North American and China.
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 SecuritiesExchange Act of 1934, as amended. All statements, other thanstatements of historical fact, included herein are forward-lookingstatements that involve various risks and uncertainties. There can beno assurance that such statements will prove to be accurate, andactual results and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company's expectationsare disclosed in the Company's documents filed from time to time withthe TSX-Venture Exchange, the British Columbia Securities Commissionand the US Securities and Exchange Commission.