VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 9, 2012) - Goldrea Resources Corp. (TSX VENTURE:GOR)(PINKSHEETS:GORAF)FRANKFURT:GOJ) (“Goldrea” or the “Company”) announces that it has accepted the resignation of Mr. Larry Reaugh as Chief Executive Officer and President of the Company effective July 9, 2012. He will remain as a Director only. Succeeding Mr. Reaugh, the Company is pleased to announce the approval of Mr. James Elbert as Chief Executive Officer and President of the Company effective July 9, 2012.

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