Goldrea Update and $200,000 Private Placement Announcement

Rhea-AI Summary

Goldrea Resources (OTC:GORAF) has announced plans to conduct a field program at its Cannonball Project in the Golden Triangle region, alongside a $200,000 private placement offering. The company will raise funds through two components: $100,000 through $0.016 flow-through units and another $100,000 through $0.014 regular units.

The Cannonball project is strategically located between major mining properties, including Seabridge Gold's Iskut Project and Enduro Metals' Newmont Lake Project. The area is part of a 150-kilometer northeast trending series of porphyry and epithermal gold occurrences. Previous surveys have identified three promising targets, and the company plans to evaluate these through the upcoming field program.

Positive

• None.

Negative

• Small financing round of only $200,000 indicates limited initial exploration scope
• Field program execution is contingent on successful financing
• Dilutive effect from new share issuance and warrants
• Early-stage exploration with no guaranteed success

Vancouver, British Columbia--(Newsfile Corp. - August 5, 2025) - Goldrea Resources Corp. (CSE: GOR) (FSE: GOJ1) (OTC Pink: GORAF) ("Goldrea" or the "Company") is pleased to announce that it will be conducting a field program to evaluate three targets identified by previous airborne surveys of the Cannonball Project. Subject to financing, the Company intends to carry out this work program this summer.

Accordingly, Goldrea is announcing a non-brokered private placement to raise up to $100,000 through the sale of $0.016 flow-through units ("FT Units") and up to $100,000 through the sale of $0.014 units ("Units"). Each $0.016 FT Unit will be comprised of one flow-through common share and half of a non-flow-through common share purchase warrant with an exercise price of $0.05 for a period of three years. Each $0.014 Unit will be comprised of one common share and one full common share purchase warrant with an exercise price of $0.05 for a period of three years. Proceeds from the private placement will be used to finance the exploration program as well as to fund general administration expenses. Finders' fees may be paid in connection with the offering.

Goldrea's Cannonball project is located between Seabridge Gold's 22,800 hectare Iskut Project and Enduro Metals' 68,800 hectare, northeast trending claim group called the Newmont Lake Project. Kingfisher Metals, controls an 84,900 hectare, northeast trending claim group called the Highway 37 Project to the northeast of the Newmont Lake Project. Northeast of Kingfisher Metals, Newmont Gold controls the Red Chris Mine and GT Gold's Saddle Discovery, purchased by Newmont in 2021 for ~$400 million, which form part of an 71,000 hectare land package. Collectively, these claims cover a 150 kilometer long, northeast trending series of porphyry and epithermal gold occurrences having significant potential for new discoveries. https://goldrea.com/wp-content/uploads/2025/08/Goldrea_GoldenTriangle_Map_NRelease_Slide.pdf ; for map showing properties on trend on www.goldrea.com. Ongoing geological research (Ore Deposits Hub 107-Structural Patterns at the Mesozoic KSM and Galore Creek Porphyry Districts) indicates that porphyry systems in the Golden Triangle are localized along rift-related, northeast trending structural corridors, typically near epithermal gold occurrences.

An 8,000 meter drilling program, announced on June 3, 2025 is underway at Seabridge's Snip North project. Kingfisher Metals announced commencement of a 7,500 meter drill program at the Highway 37 project on July 2, 2025, and on July 23, 2025 Enduro announced they have commenced a field program potentially to include drilling of its promising Andrei porphyry prospect. The total cost of these exploration programs is estimated at $25 million for 2025.

Jim Elbert states: "The intense interest Seabridge, Newmont, Kingfisher Metals and Enduro are showing in this part of the Golden Triangle supports the potential of Goldrea's mineral claims. Field work by Goldrea's geological team since 2020 has identified porphyry and epithermal style copper and gold mineralization and preliminary IP surveys have delineated significant chargeability anomalies. These targets exhibit circular magnetic response similar to known area mineralization. The current drill programs are expected to generate even more industry interest in this emerging corridor, and we continue to be very encouraged as we build on Goldrea's resource potential."

For more information, please contact:

Jim Elbert, President and CEO
Telephone: (604) 559-7230
Email: jelbert@goldrea.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261266

FAQ

What is the size and structure of Goldrea Resources' (GORAF) private placement announced in August 2025?

Goldrea announced a $200,000 private placement, split between $100,000 in flow-through units at $0.016 and $100,000 in regular units at $0.014, both including warrants exercisable at $0.05 for three years.

Where is Goldrea's Cannonball Project located and what are its key features?

The Cannonball Project is located in the Golden Triangle region, situated between Seabridge Gold's Iskut Project and Enduro Metals' Newmont Lake Project. It's part of a 150km northeast trending series of porphyry and epithermal gold occurrences.

How will GORAF use the proceeds from the August 2025 private placement?

The proceeds will be used to finance the exploration program at the Cannonball Project and to fund general administration expenses.

What exploration activities are planned for Goldrea's Cannonball Project in 2025?

Goldrea plans to conduct a field program to evaluate three targets previously identified by airborne surveys, subject to successful financing of the private placement.

How does Goldrea's project compare to nearby mining operations in the Golden Triangle?

The project is part of a significant mining district that includes Newmont's Red Chris Mine and the Saddle Discovery (acquired for ~$400M), with neighboring companies conducting extensive drilling programs totaling approximately $25M in exploration for 2025.