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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
January 5, 2005
TSX trade symbol: GGY
Toronto, Canada – Goldeye Explorations Limited (“Goldeye “) wishes to announce the results of the surface sampling program completed in December on the Puma area of the Sonia/Puma property, Region V central Chile. The Puma alteration zone is an 800m diameter area of argillication hosting centrally located quartz and silica-rich veins. Twenty seven samples of the vein material assayed from 0.005g/t gold to 3.84g/t gold with associated silver values to 5.8g/t.
Sixteen samples taken from a zone of north-south trending quartz–silica veins approximately 1.6km to the south and 400m higher in elevation assayed from 0.037g/t gold to 1.75 g/t gold and silver values to 21.6 g/t.
Samples varied from composite grab samples of quartz-silica vein material from boulders in soil to channel and panel samples across veins up to 1.4m wide. One of the panel samples measuring 0.25m by 1.4m assayed 3.84g/t Au.
Analyses were carried out by ALS Chemex an ISO 9001:2001 registered laboratory. Gold analyses were by fire assay techniques with an atomic absorption finish while silver values were determined by ICP methods as part of a 34 element assay package.
A program of road building to provide access for geology, geophysics and drilling to the Sonia and Puma properties will commence in late January.
In other news Goldeye has closed a non-brokered private placement, announced on Dec 8, with four arms length placees for gross proceeds of $360,200.10 subject to the acceptance of the TSX Venture Exchange. 2,401,334 units were issued at a price of $ 0.15 per unit consisting of one common share and one-half of one warrant that may be exercised for two year to purchase a non flow-through common share. A $10,000 cash finders fee is payable and 133,334 share purchase warrants are issuable in connection with the offering in addition to the expenses of the offering. The securities are subject to a four month hold.
The proceeds of the private placement is planned to fund exploration work on the Company’s mineral properties in Ontario and will qualify as a Canadian exploration expense and will be renounced by the Company to investors under the Income Tax Act (Canada).
Gerald Harron, P. Eng. is the qualified person responsible for the technical information contained in this release
Goldeye is a Canadian exploration company with projects in Region V of central Chile, Northwestern Ontario (Sandy Lake, Gold Rock) and Northeastern Ontario (Tyrrell Project). Goldeye has 26,075,681 issued and outstanding shares following the offering.
For further information please contact Blaine Webster, Chairman and C.E.O. at (905) 731-9367, Fax: (905) 731-9312. Goldeye's 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.