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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
FOR IMMEDIATE RELEASE TSX VENTURE EXCHANGE SYMBOL GGY
Shares issued 36,920,674
August 11, 2006
Goldeye completes financing and upgrades geology prior to drilling in Tyrrell Township, NE Ontario
Goldeye Explorations Limited wishes to announce that it has completed a
non-brokered $293,000 private placement consisting of 1,953,333 units at a price
of $0.15 per unit. Each unit consists of one flow-through common share and
one-half of a common share purchase warrant. Each whole warrant entitles the
holder to purchase one additional non-flow-through common share of Goldeye for a
period of two years at a price of $0.25 per share.
In Tyrrell Twp., 100 km south of Timmins, Ontario, Goldeye is trenching on the
Big Dome and at Hydro Creek. Several flat and steeply dipping sulphide bearing
quartz veins have been located on surface 200m vertically above a vein that
assayed 212 g/t Au in drill hole G05-22. Sampling and geological mapping of the
exposed veins is taking place prior to a drill program.
At Fawcett Twp. Property, 10 km SW of Tyrrell Twp., line cutting, geophysical surveys, trenching and geological mapping are being done on a strong airborne conductor in an area associated with F2 rhyolites indicating a high base metal potential. Activities by other companies in the area include an airborne time domain electromagnetic survey and the drilling of a copper nickel deposit. Goldeye's property consists of 210 claim units covering lithologies favourable for the occurrence of copper-nickel and copper-zinc deposits.
As previously stated in a press release dated August 2, 2006, Goldeye has
completed a 1331m drill program in 8 holes on the Mext, Todd and Fall Creek
Zones on the Todd Creek property in the Stewart Gold Camp, NW B.C. The Todd
deposit mineralization was extended 300m to the north to the Mext Zone where
composite samples collected at the beginning of the 2006 drill program returned
6.36 g/t Au and 1.74 % Cu. Four km to the north at Fall Creek East Zone, the
2006 drill holes were successful in intersecting a number of mineralized zones
with strong zones of multiphase mineralization. Core samples have been sent to
Vancouver for analysis.
Gerald Harron, P. Eng., is the qualified person responsible for the technical
information contained in this press release.
For further information please contact B. Webster, C.E.O. and President at (905) 8862538 Fax (905) 886-8210. 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.