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Chile (Sonia-Puma) | Ontario ( Tyrrell | Boyer Lake | Gold Rock | Sandy Lake | McFaulds Lake ) | British Columbia ( Todd Creek)
Goldeye Explorations Limited
27 Blue Spruce Lane, Thornhill, ON, L3T 3W8, Canada
July 14, 2004
TSX trade symbol: GGY
Goldeye Explorations Limited (the "Company") announces that it intends to carry out a public offering to raise up to $ 1.5 million through the sale of units by way of a short form offering document to purchasers in British Columbia, Alberta and such other jurisdictions as the offering may be legally sold but not to residents of Ontario. Under the SFOD, the Company through its agent, Canaccord Capital Corporation, will offer up to 10 million units at a price of $ 0.15 cents per unit. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional common share for a period of two years at a price of 20 cents.
Canaccord as agent for this offering will be paid a commission of 8 percent of the gross proceeds, of which it may elect to be paid up to half in units. It will receive an agent's warrant to acquire the number of shares that is equal to 20 percent of the number of units sold. In addition, it will receive a corporate finance fee of 125,000 units and an administration fee of $ 7,500.
The proceeds will be used to sample and geologically map the Sonia epithermal vein system, and Gold Rock properties, drill Tyrrell Twp. and to map the high grade gold veins associated with the Sandy Lake Northwest Arm folded ultramafic target. The proceeds will also be used for general working capital. The foregoing is subject to regulatory approval.
In other news, the Company wishes to announce that Constance Webster who has been acting in the capacity of Chief Financial Officer will assume the title effective July 13, 2004.
Shares Outstanding:18,910,180
Goldeye's web-site address is http://www.pathcom.com/~goldeye
FOR FURTHER INFORMATION PLEASE CONTACT:
Goldeye Explorations Limited Blaine Webster Chairman and C.E.O.
(905) 731 9367 (TEL) (905) 731 9312 (FAX)
Goldeyes web-site address is http:www.pathcom.com/~goldeye
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.