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
SOURCE: Goldrea Resources Corp.
