Goldrea Makes Progress on Peruvian Gold Processing Plant
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 25, 2015) - Jim Elbert, President and CEO of Goldrea Resources Corp. (CSE:GOR)(FRANKFURT:GOJ)(OTC PINK:GORAF) ("Goldrea" or the "Company"), is pleased to report that the building of Goldrea's gold processing plant in northern Peru is proceeding on schedule and on budget. "Goldrea has acquired most of the equipment necessary for the construction of the plant and is now in the process of assembling and building. We are still looking at October as the target date to have the plant completed. While the plant is currently projected to process ten tons per day, the Company can easily scale up the plant to have a higher processing capacity."
Goldrea's plant will be located outside of Las Lomas, a town in the northern Peruvian province of Piura. This area has not received the same degree of attention as the southern regions of Peru in terms of foreign investment in toll milling and gold processing, and accordingly the Company believes that there will be demand from the many artisanal miners in this area for efficient and environmentally friendly gold processing services as the government of Peru continues to aggressively curtail toxic illegal processing practices. A highly experienced and skilled local team will be building and operating Goldrea's plant.
While maintaining the Company's other five exploration projects, Goldrea has shifted its focus to attaining a cash flow business to grow and sustain the Company in the current junior mining environment. "We are excited to be on the cusp of a business that has great deal of blue sky and appreciate the investors that have made this possible," Mr. Elbert states. "Goldrea has streamlined and restructured over the past two years to create a solid platform of strength from which to expand and grow."
Goldrea continues to conduct its private placement of units priced at five cents per unit, with each unit comprised of one common share and a one-year warrant with an exercise price of ten cents per share. The Company anticipates the second tranche of the placement to be closed in the very near term.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking 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.
Contact
Goldrea Resources Corp.
James Elbert
President and CEO
(604) 559-7230
info@goldrea.com
www.goldrea.com