Goldrea Resources Corp. has received multiple high gold values (samples returning >5 g/t gold) ranging from 6.85 to 91.00 grams per ton ("g/t") from check samples collected from the Adrian Vein System by the Company's independent consultants during its 2020 and 2021 field programs. According to Minfile records, the Adrian vein system was traced over an area approximately 1,000 meters ("m") by 300m, and nine grab samples collected in 1988 returned grades ranging from 2.7 g/t to 30.0 g/t. Field mapping combined with a detailed compilation of historic technical reports shows that the Adrian Vein System has actually been traced over a strike length of more than 1,600m and that a 1990 shallow drilling program, comprising 447.52m in ten holes, encountered pyrite-chalcopyrite mineralization and alteration over widths ranging from 3.0m to 11.2m and returned narrow, high-grade intervals of up to 0.5m averaging 18.81 g/t gold. The reader is cautioned that the 2021 check samples are grab samples collected by independent consultants but are not necessarily representative of the mineralization hosted on the property.

The 2021 exploration program included a 3DIP survey which partially covered the Adrian Vein System and identified anomalous chargeability responses in the central part of the vein system. The survey will be extended to cover the entire vein system as part of the planned 2022 exploration program. In addition to the Adrian Vein System the Cannonball Project also includes two porphyry copper targets which appear to be related to kilometer scale, sub circular airborne magnetic anomalies referred to as the Cannonball and the Juice Box Targets.

Exploration work during 2020 at the Cannonball Target confirmed the presence of high gold and copper values associated with widespread, hydrothermal alteration and sheeted vein zones related to the circular magnetic feature and confirmed the presence of a high-grade mineralized shear zone along the southern margin of the circular feature, referred to as the Joy Zone. Verification sampling of the shear zone in 2020 returned 405 g/t gold over 15 cm. A limited drill program completed in 1988 that consisted of 3 shallow holes (302.71m) reportedly encountered a 20 centimetre ("cm') interval in one of the drill holes that averaged 10.31 g/t gold within a multi-meter wide interval containing anomalous gold and copper values.

Exploration work at the recently discovered Juice Box Target during 2021 consisted of surface sampling and a 3D IP survey. The 2021 program identified widespread malachite staining in andesitic volcanic rocks within a recently deglaciated area along the southern and southwestern margins of a second circular magnetic feature. Sampling confirmed significant copper concentrations within andesitic volcanics, and the 3D IP survey identified a significant chargeability anomaly that is spatially related to the area of malachite staining and extends to a depth of over 400 meters below surface.