Goldrea Resources Corp. — Capital/Financing Update 2022

Nov 1, 2022

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Goldrea Announces Non-Brokered Private Placement of Convertible Debentures

• October 27, 2022 Vancouver, British Columbia

Goldrea Resources Corp. (CSE:GOR, Frankfurt:GOJ, OTC:GORAF)(“Goldrea” or the “Company”) will be conducting a non-brokered private placement of secured convertible debentures (the “Debentures”) with an aggregate principal amount of up to $50,000.

The Debentures mature on the second anniversary of their issuance date. Interest will accrue on the Debentures’ outstanding principal at the rate of 10% per annum and will be payable every three months. The holders of the Debentures have the right at any time to convert the outstanding debt, in whole or in part, into common shares of the Company (a “Share”) at $0.025 per Share. In addition, the holders of the Debentures will be issued, as a loan bonus, one common share purchase warrant (a “Warrant”) for each dollar of debentures subscribed, with each Warrant entitling its holder to purchase one Share at $0.05 during the two years following the warrant’s issuance.

The proceeds from the Debentures will be used by the Company to conduct exploration programs on its mineral properties and for general working capital. All securities issued under the private placement will be subject to a four-month hold and other resale restrictions under applicable securities legislation. A finder’s fee may be paid in connection with the financing.

For more information, please contact: James 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 “forwardlooking 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.