brief summary
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Chile (Sonia-Puma) | Ontario ( Tyrrell | Boyer Lake | Gold Rock | Sandy Lake | McFaulds Lake ) | British Columbia ( Todd Creek)
Goldeye Explorations Limited
105 West Beaver Creek Rd., Suite 5A, Richmond Hill, ON, L4B 1C6, Canada
TSX Venture Exchange Symbol GGY
Shares issued: 32,842,619
May 15, 2006
Goldeye Update: 1000m drill program signed on Todd Creek Property, Stewart B.C.; Big Dome, Tyrrell Twp., NE Ontario High-Grade Zone to be drilled.
Goldeye is pleased to announce that an 800 to 1000m-drill program has been signed on the Todd Creek project located 30km west of Stewart B.C. The South zone will be tested where previous drilling intersected 8.83g Au/t and 0.45 Cu 0ver 11.7m. The South Zone remains open at depth and along strike.
Also, Goldeye has signed a letter of intent for a 50/50 joint venture with a private company Polar Mining Corporation on the Todd Creek (Stewart, B.C.) and Sonia Chile projects. Precise terms will be announced upon signing of the formal agreement.
A program of drilling on the Big Dome, Tyrrell Township, NE Ontario is being planned to extend the high-grade gold mineralization (G98-09, 1.4m/149g/t, G05-22, 2.05m/217g/t, G05-23, 2.0m/80.7g/t, 1.5m /10g/t, 1.5m/13g/t, and drill hole G-26, 1m/40g/t) along strike and to depth.
In other news, the financing announced on April 1, 2006 will not be completed; however, numerous inquires have been made by parties interested in financing and these will be followed up.
The Tyrrell project is located 90 km south of Timmins and consists of over 200 claim units owned 100% by Goldeye, a Canadian exploration company with projects in NE Ontario (Tyrrell and Fawcett Twps.), NW Ontario (Sandy Lake, Gold Rock), Todd Creek Stewart Area, N.W. B.C. and Region V of central Chile. Gerald Harron, P. Eng. is the qualified person responsible for the technical information contained in this release.
For further information please contact B. Webster, C.E.O and President at 905 731 9367, Fax 905 731 9312. Goldeye’s web-site address is www.goldeye.ca. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.