UNDERGROUND DEVELOPMENT HEADS FOR ORE AT THE GOLDEN ROSE SHAFT; STOPING IS EXPECTED TO BEGIN WITHIN A MONTH
March 12, 2008 - Vancouver, British Columbia
Goldrea Resources Corp. (TSX.V - GOR; Frankfurt – G0J; Pinks – GORAF) reports that the Mining contractor has begun the underground development
at the Golden Rose Shaft. Crosscutting commenced last week to access the ore discovered in Hole GZK810 and stoping should begin on this ore shoot
within the month. The ore will be stockpiled on surface until 20,000 tonnes are available at which time the Daye Mill will be directed to begin
milling this ore. This move will mark the first production by Goldrea Resources Corp. in China.
Drilling continues with two drill machines working full time on the Daye Property. Two more machines, which are assigned to the project, are down for maintenance and will be brought on site as soon as this work is complete.
Some minor construction is continuing at Golden Rose and is expected to be complete within a month. When this work is complete the shaft crew can begin the work at the Golden Dragon Shaft. The recommended location is at 4106900N, 40612000E. This location is subject to change depending on land acquisition agreements with the local farmers for room to put the surface buildings and access roads. Our negotiating team is presently working on acquiring these land agreements. This shaft will provide access to the Jingkou Zone mineralization at a depth of ±290 meters.
Detailed drilling is required before a mining permit and mining leases are issued. This does not preclude shaft sinking for exploration purposes to provide access for both exploration drifting and underground drilling.
The use of rubber tired equipment and a decline is being investigated to work the shallower mineralization on the Jingkou and Tianjia Zones. If the ground will support a decline this mineralization becomes easily accessible without the need for a hoisting shaft. Geotechnical reports are not yet available but are expected soon.
Recent Drilling results on the Daye property include:
| RECENT INTERSECTIONS (Previously Unreported) |
||||
|---|---|---|---|---|
| Drill Hole # | From (Meters) | To (Meters) | Interval (Meters) | Grade (GPT) |
| GZK-860 | 427.62 | 429.59 | 1.97 | 0.92 |
| GZK-863 | 304.41 | 305.46 | 1.05 | 1.03 |
| GZK-601 | 267.49 | 268.29 | 0.78 | 1.47 |
| GZK-604 | 261.78 | 265.25 | 3.47 | 1.55 |
| 265.70 | 267.50 | 1.80 | 2.35 | |
| GZK-760 | 427.31 | 429.51 | 2.20 | 3.92 |
| GZK-616 | 106.79 | 107.84 | 1.05 | 2.15 | OR |
| GZK-616 | 104.74 | 109.93 | 5.19 | 1.08 |
This press release has been reviewed by Norman L. Tribe, P. Eng., a qualified person under NI 43-101.
GOLDREA RESOURCES CORP.
"Larry Reaugh"
Larry Reaugh,
President, Chief Executive Officer and Director