GOLDREA RESOURCES ANNOUNCES ASSAY RESULTS ON GASPE LITHIUM PROJECT

Goldrea Resources Corp. has released the results from its recent reconnaissance sampling and mapping program at its 100-per-cent-owned Gaspe lithium property near the town of Gaspe, Que.

The program was successful in its goal of generating an initial geological map of the property and has potentially identified one source of the lithium anomalies from historical stream sediment samples. This potential source has been identified as a mudstone unit exposed near the Riviere Madeleine and has been dubbed the A-Zone.

“We are pleased with the results from our reconnaissance program. These numbers reflect the historical stream sediment sampling results, and the program has potentially identified the source of the lithium mineralization on our Gaspe lithium property,” states Jim Elbert, chief executive officer.

Sampling overview

Out of 30 samples taken from the property, 12 samples yielded values exceeding 89.6 parts per million lithium oxide, with a maximum value of 226.1 parts per million Li2O. One sample (67174), taken near a faulted zone by the Riviere Madeleine close to the centre of the property, returned a value of 0.69 per cent copper along with one of the highest Li2O values of 219.6 parts per million. Outcrop sampling highlights are summarized in the attached table.

                      OUTCROP SAMPLING HIGHLIGHTS

Sample ID          Lithology       Li (ppm)   Li2O (ppm)(1)       Cu (ppm)

67172               Mudstone           105           226.1           24.6
67174               Mudstone           102           219.6           6900
67156                  Shale          91.3           196.6             57
67178               Mudstone          88.5           190.5           70.3
67173                  Shale          73.9           159.1            184
67155              Quartzite          66.7           143.6            9.4
67176          Fault breccia            63           135.6           18.4
67158              Sandstone          46.2            99.5           48.4
67165                  Shale          43.3            93.2           55.1
67161              Siltstone          42.6            91.7           58.7
67160                  Shale          42.1            90.6           51.2
67166                  Shale          41.6            89.6           29.8

(1) Theoretical value of Li2O is calculated based on the assay value of
lithium times 2.153.

Cautionary statement: Readers are cautioned that grab samples are selective by nature and are not necessarily representative of mineralization hosted on the property.

Five stream sediment samples were taken along the Riviere Madeleine, upstream from the historical sampling locations, yielding values of 53.4 parts per million to 74.1 parts per million Li2O. Five till samples were also taken, yielding values of 65.2 parts per million to 75.1 parts per million Li2O.

Samples were analyzed at Activation Laboratories in Timmins, Ont., for elements, including lithium and copper, using procedure codes 1EX/MA200 (total digestion and ICP/MS (inductively coupled plasma/mass spectrometry)).

Detailed summary of results

Lithium assays from samples returned a range of 11 parts per million to 226.1 parts per million Li2O. Twelve out of 30 samples returned values over 89.6 parts per million Li2O. Mudstones and shales returned the highest Li2O concentrations, with median values of 219.6 parts per million and 93.2 parts per million, respectively. Sandstones yielded the lowest Li2O concentrations, with a median value of 72.1 parts per million.

Red to green mudstone units, all sampled within the wide exposure at the major bend in the Riviere Madeleine near the centre of the property (referred to here as the A-Zone), ran consistently in the highest lithium range, with values from three out of four mudstone samples assaying between 190.5 parts per million to 226.1 parts per million. Sample 67174, a mudstone unit assaying 219.6 parts per million Li2O, also returned values of 6,900 parts per million (0.69 per cent) Cu and 4,540 parts per million (0.454 per cent) manganese.

A faulted zone at the A-Zone also yielded one sample with a significant copper value of 6,900 parts per million (0.69 per cent Cu). This is encouraging, considering that the region is known for its rich copper deposits. The extent of copper mineralization is unknown.

The technical contents of this release were approved by Case Lewis, PGeo, an independent consultant to the company and a qualified person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.

About the Gaspe lithium project

The Gaspe lithium project is located approximately 75 kilometres northwest of the city of Gaspe, Que., in NTS map sheet 22H03 and covers historically reported elevated lithium values obtained from stream sediment samples. The property is readily accessible, lying approximately three kilometres from Quebec Route 198. The area is underlain by Cambrian to Lower Ordovician metasedimentary rocks of the Riviere-Ouelle and Trois-Pistoles formations. Lithological units are mudrock, sandstone, conglomerates and limestones.

The highest recorded historical stream sediment sample from the Gaspe lithium property returned a value of 159 parts per million Li. For reference, the SIGEOM sediment sample database contains only five samples that exceed 150 parts per million for the entire province of Quebec. Additionally, the highest-assaying lake sediment sample near Nemaska Lithium’s proposed Whabouchi lithium open-pit resource returned a maximum of 10.9 parts per million Li. In addition to the 159-part-per-million sample taken from the property, another three stream sediment samples within the property boundaries include, using the first sample as a reference point for location: 105 parts per million Li located 200 metres to the west, 24 parts per million Li located 400 metres to the west and 26 parts per million Li located 700 metres to the north.

We seek Safe Harbor.

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