Goldrea closes private placement and updates Cannonball project in Golden Triangle

Vancouver, British Columbia--(Newsfile Corp. - August 27, 2026) - Goldrea Resources Corp. (CSE: GOR) (FSE: GOJ1) (OTC Pink: GORAF) ("Goldrea" or the "Company") is announcing a non-brokered private placement to raise up to $680,000 with the offering of:

up to 10,000,000 flow-through units ("FT Units") at $0.028 each, with each FT Unit composed 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 one year; and

up to 20,000,000 units ("Units") at $0.02 each, with each Unit composed of one common share and one full common share purchase warrant with an exercise price of $0.05 for a period of one year.

Proceeds from the private placement will be used to finance the Company's ongoing exploration work at Cannonball and pay general administration expenses. All securities sold under the private placement will be subject to a four-month hold period. Finders' fees may be paid in connection with the offering.

As previously reported, exploration work carried out by the Company has verified historic reports of gold and copper bearing mineralization at the Cannonball, Juicebox and Adrian Vein Targets and identified chargeability anomalies associated with areas of disseminated copper mineralization at the Juicebox Target. The historic data compilation studies completed during early 2026 identified multiple additional areas of interest. For reference, the link to Figure 2 from the Company's May 28, 2026 press release is included below and shows the locations of the anomalous historic samples and the locations of the known target areas that will be the focus of next year's exploration program. Figure 2 is a structural compilation map (based on the Company's 2025 magnetic data compilation) with symbols showing the locations of historic rock and soil samples containing elevated gold and copper concentrations. Please visit: https://goldrea.com/wp-content/uploads/2026/05/Figure2_FINAL.pdf .

Goldrea announces that it has mobilized field personnel to complete a $150,000 exploration program on its Cannonball Project. The main objectives of this program are to verify historic reports of gold and copper mineralization at the "Stu Prospect" (Aris Report No. 17131 located within the Hanstone JV ground) and verify a north trending, 2.0km long "gold in soil" anomaly (with gold values up to 756 ppb) located between the Cannonball and Adrian Vein Targets.

Management is pleased to report that the Ministry of Mines has approved the Company's five-year permit applications for IP surveys and drilling on all of the claim groups that comprise the Cannonball Project. Carl von Einsiedel (P. Geo.), is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards, and has prepared, reviewed and approved the scientific and technical information in this press release.

Jim Elbert, CEO, states, "Interest in the prolific Golden Triangle continues to ramp up and Goldrea's property is in the center of that activity. Our property can stand alone with targets developing for next year's full program. This year, we are doing necessary work on last September's acquisition of a JV property with Hanstone Gold, which greatly increased our footprint and connected our properties to Seabridge and their Iskut/SnipNorth project. Results from this groundwork will further define the Company's future explorations and focus on our prime targets. Goldrea's near term goals are now within sight, and the outlook is very encouraging."