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Goldrea Resources Corp. has Provided the Following Update

Goldrea GOR:CNX is in late stages negotiation with a service company in business of providing testing of cannabis to meet state regulations.

The company has worked diligently with Tabu as per the letter of intent announced on June 18, 2018. While Tabu has not yet met the conditions set in the letter of intent expiring Aug. 20, 2018, it continues developing inroads into the cannabis space, and the two companies will keep dialogue open for a mutual agreement, given the positive relationship that has been built. In addition, and not in conflict with Tabu, Goldrea GOR:CNX is in late stages negotiation with a service company in business of providing testing of cannabis to meet state regulations. The operations would be in California to provide testing to various producers of cannabis and cannabis products. Upon the completion of an agreement, the company looks forward to making a further announcement in more detail.

Jim Elbert, president and chief executive officer, reports: “There are great opportunities in the cannabis space, and Goldrea has worked to find the right opportunity that fits with the company’s vision as a sizable completed deal could change the company profile in a dramatic way. We are confident that some positive developments will be completed in the near term. In the meantime, Goldrea has kept its mining concerns current and, in fact, have improved upon them. These properties have significant value at the core of Goldrea’s present worth.”

Goldrea has invested another $25,000 into the Cannonball property with the funds earmarked for aerial magnetic surveying. This is anticipated to bring the property into National Instrument 43-101 reporting. The Lift lithium property in the Clayton Valley in Nevada is current until September, 2019, and the company will be actively seeking a partner, given the recent renewal of interest in the sector and area. The two properties of gold and lithium in Quebec are in good standing, and the company is accepting inquiries of interest from potential buy/joint venture partners.

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