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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
December 23, 2005
TSX trade symbol: GGY
December 23, 2005 TSX Venture Exchange-Symbol GGY Toronto, Canada-Goldeye Explorations Limited proposes to complete financings by way of two nonbrokered private placements. The first private placement is a financing of up to $540,000 and, subject to regulatory acceptance, will consist of up to 3,000,000 units at a price of $0.18 per unit. Each unit will consist of one flow-through common share and one-half of one common share purchase warrant. The warrants are non-transferable and each whole warrant entitles the holder to purchase an additional common share at a price of $0.25 per share for a period of two years following closing. The securities issued pursuant to this private placement will be subject to resale restrictions for a 4 month period following closing. The proceeds of this private placement is planned to fund exploration work on Goldeye's mineral properties in Ontario particularly the Tyrrell Property, Fawcett Property and Gold Rock Property, and will qualify as a Canadian exploration expense and will be renounced by Goldeye to investors under the Income Tax Act (Canada).
The second private placement is a financing of $400,000 and, subject to regulatory acceptance, will consist of one flow-through common share and one common share purchase warrant. The warrants are non-transferable and each warrant entitles the holder to purchase an additional common share at a price of $0.25 per share for a period of two years following closing. The securities issued pursuant to this private placement will be subject to resale restrictions for a 4 month period following closing. The proceeds of this private placement is planned to fund exploration on Goldeye's properties as aforesaid.
Goldeye is a Canadian exploration company with projects in Northwestern Ontario (Sandy Lake, Boyer Lake and Gold Rock) and Northeastern Ontario (Tyrrell Project) in Canada. The Tyrrell Project is located 90 km south of Timmins and consists of over 200 claim units owned 100% by Goldeye. Gerald Harron, P. Eng. is the qualified person responsible for the technical information contained in this release. Goldeye currently has 29,000,681 shares outstanding.
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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.