Goldrea Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2012) - Goldrea Resources Corp. (TSX VENTURE:GOR)(PINKSHEETS:GORAF)(FRANKFURT:GOJ) ("Goldrea" or the "Company") announces the Company is raising by way of Non-Brokered Private Placement, up to $500,000 through the issuance of up to 16,666,666 units ("Units") at a price of $0.03 per Unit.

Each Unit is comprised of one common share in the capital of the Company (a "Share") plus a two year share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share at a price of $0.05 in the first year and $0.10 in the second year from the date of issuance.

This Private Placement could be subject to finders' fees which will be paid in accordance with the TSX Venture Exchange policies and is subject to the approval of the regulatory authorities.

Goldrea would also like to announce that it seeks approval from the TSX Venture Exchange (the "Exchange") for a two year extension for the 7,918,000 outstanding share purchase warrants (the "November Warrants") issued pursuant to the Company's private placement at a price of $0.06 per unit completed on November 5, 2010. Each November Warrant is exercisable for one common share at an exercise price of $0.10 per common share. The November Warrants were due to expire on November 5, 2012.

The new expiry date for the November Warrants is November 5, 2014.

GOLDREA RESOURCES CORP.

James Elbert, President and Chief Executive Officer

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.