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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: 38,345,674
Goldeye locates 14g/t gold over 0.95m in saw cut above Big Dome High Grade
Zone, Tyrrell Twp., Ont. and completes Private Placement
Toronto, Canada, September 27, 2006 - Goldeye Explorations Limited
(Goldeye) wishes to report that a saw cut channel sample from the ongoing
trenching program in Tyrrell Township, NE Ont. returned a best assay of 14.02
g/t gold over 0.95m. The saw cut sits directly above the high-grade zone which
extends vertically from 175m to 450m. The trench has been expanded to the
northwest to follow the gold values. Other trenches nearby, currently being
washed prior to sampling, have uncovered large areas of pyritic green carbonate
rock.
In other news, the Company wishes to announce that it proposes to complete a
brokered private placement for proceeds of $210,000 pursuant to the
"Accredited Investor" exemption in accordance with NI 45-106, subject
to acceptance by the TSX Venture Exchange. 1,400,000 flow-through units of
Goldeye are to be issued at a price of $0.15 per unit. Each unit consists of one
flow-through common share and one half of a transferable non-flow-through common
share purchase warrant. Each whole non-flow-through common share purchase
warrant (a "Warrant" or collectively the "Warrants")
entitles the holder to purchase an additional common share for two years at
$0.25 per share for a two year period. Goldeye will pay an 8% commission and
issue 140,000 warrants (10%) in connection with the transaction. These warrants
will have the same attributes as the Warrants.
All proceeds will be used for mineral exploration on Goldeye's Canadian
mineral properties qualifying as Canadian Exploration Expense (CEE) under the
Income Tax Act (Canada) enabling the subscriber to obtain applicable tax credits
and deductions.
Goldeye is a Canadian mineral exploration company acquiring, exploring and
advancing properties in Canada and Chile. The Company has recently drilled a
gold-copper property in British Columbia with results pending, and is currently
conducting a trenching program to be followed up by drilling in Tyrrell and
Fawcett Townships in NE Ontario. G. 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.