Goldeye - press release February 16, 2007

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press release

Goldeye Explorations Limited

105 West Beaver Creek Rd., Suite 5A, Richmond Hill, ON, L4B 1C6, Canada

TSX Venture Exchange Symbol GGY
Shares issued: 53,362,664

Goldeye’s Tyrrell Township Drilling Confirms Continuity of “High Grade Gold Zone” within the “Big Dome Target” and Discovers Three New Gold Zones at “Hydro Creek”

Toronto, Canada, February 15, 2007 - Goldeye Explorations Limited (Goldeye) (GGY) drilling on the “Big Dome Target” tested the “High Grade Gold Zone” discovered in the 2005 drill program (DDH # G-05-22). Drilling perpendicular to diabase dykes was designed to minimize “diabase core” and to determine if the high grade mineralization is parallel to the dikes.

On the “Big Dome Target”, gold values (up to 5g/t Au) are associated with the “Lower High Grade Gold Zone” previously intersected below the Big Dome Porphyry over a strike length of 60m. A new gold zone was discovered in the hanging wall of DDH # G-06-28 with a zone of very strong silica alteration. True widths of the mineralization are estimated to be approximately 75% of the intercepts reported. The following table summarizes the drill results from the “Big Dome Target”:

Hole # Hole Depth (m) Thickness (m) Grade Big Dome Zone

G-06-27           373.8 to 374.60               0.80m             3.84g/t Au      Extension of G-05-22: 1,097 g/t Au
                                                                                                                             /0.4m Zone by 160m downdip.
G-06-27           465.8 to 467.75               1.95m             2.79g/t Au      Extension of mineralization                                                                                                                                                                                            on the footwall of the Big Dome
                                                                                                    Porphyry that contains 80.7
                                                                                                                            g/t Au/2.1m (G-05-22).

G-06-27 471.00 to 472.14 1.14m 5.35g/t Au As above.
Note: Visible gold was seen in the core at 387.2m and at 447.6m but only low assay values obtained. Samples will be re-assayed.

G-06-28 168.43 to 173.05 4.62m 2.25g/t Au New shallow zone in hanging wall.

including 170.97 to 173.05 2.08m 3.11g/t Au

G-06-29 452.71 to 453.13 0.42m 5.11g/t Au on the footwall of the Big Dome
Porpyhry that contains 80.7 g/t Au/2m (G-05-22).

In the “Hydro Creek Target” area, drilling was designed to test the Main and HC-02 Zones (see press release dated September 15, 1998).

The Main Zone has been previously tested with several drill holes including historic hole HC-23 that intersected 6.5 g/t Au/6.42m and Goldeye drill hole G-98-03 that intersected 3.28g/t Au/20.2m and 10 g/t Au/1m. In the current program, DDH # G-06-31 was drilled at an azimuth of 077 degrees in order to intersect a northwest trending splay fault at right angles. Results are as follows:

Hole # Hole Depth (m) Thickness (m) Grade Hydro Main Deep
Zone

G-06-31 268.1 to 270.8 2.7m 2.1g/t Au 45% Quartz (“Qtz”), strong alteration

G-06-31 276.2 to 277.7 1.5m 3.0g/t Au 10% Qtz, sericite

G-06-31 291.2 to 292.5 1.3m 1.3 g/t Au 80% Qtz, strong alteration

G-06-31 294.6 to 295.05 0.45m 1.84g/t Au 85% Qtz , very strong alteration

G-06-31 296.45 to 296.9 0.45m 1.21g/t Au 60% Qtz, sericite, strong alteration

G-06-31 303.25 to303.9 0.65m 1.12g/tAu 60% Qtz, sericite, strong alter.

G-06-31 310.63 to 312.63 2m 1.25g/tAu Qtz, sericite

G-06-31 330.63 to 331.94 1.31m 1.24g/t Au 1.3m wide quartz vein

The hole intersected multiple veins that are thought to be extensions of mineralization intersected in holes G98-03 and HC-23.

Historical drill hole H-02 was drilled down dip across the structure in 1993, and intersected 20m of 2.74gm/t Au including 1.5m grading 19.5g/t Au. The intersection resides within a complex system of diabase dikes. Hole G-06-32 was drilled at an azimuth of 057 degrees to crosscut the HC-02 zone. This azimuth also minimized the amount of diabase intersected. Results are as follows:

Hole # Hole Depth (m) Thickness (m) Grade Hydro New Zone
Hydro Creek West

G-06-32 110.94 to 118.77 7.83m 1.5g/t Au Carbonate alteration

including 114.8 to 116.75 1.95m 3.24g/t Au 15% Qtz

G-06-32 276.2 to 277.7 1.5m 3.0g/t Au 10% Qtz , sericite LaCarte SW

G-06-32 156.28 to 164.00 8.28m 0.29 g/t Au 90% Qtz, sericite, strong alteration FW#1

G-06-32 177.22 to 178.94 1.72m 3.38g/t Au 20% Qtz , medium alteration

The drill results include the discovery of three new zones: “Hydro Creek West”, “LaCarte SW”, (a 8.28m thick quartz vein that is an extension of the LaCarte North), and a footwall zone (“FW#1”). The location of the gold values indicate that the gold mineralization is more related to the Tyrrell Shear Zone (TSZ) rather than to the splay fault structures and that the high grade mineralization requires further detailed drilling.

Two untested geophysical targets have also been delineated on the Tyrrell Project. The Athena Claim Option is located immediately east of the Minto (Duncan Lake) deposit, which is owned by a third party, and where previous drilling has reported intersections grading up to 10.08 g/t Au over 64.0m. An IP anomaly associated with this deposit has been traced eastward onto Goldeye’s Athena claims. Also a strong IP target has been detected on the southwestern portion of Breeze Lake, which is located 1.5 km northeast of the “Big Dome Target”.

Goldeye is encouraged that the continuity of the vein systems been demonstrated. Detailed evaluation of the drill program results will involve computer modelling, and it is anticipated that this work will lead to a follow up drill program.

Drill core samples are cut using a diamond blade saw. Blank and standard samples are inserted into the sample stream at random intervals for quality control/quality assurance purposes. Assaying is performed by Swastika Laboratories Ltd. using standard fire assay techniques.

Goldeye is a Canadian mineral exploration company acquiring, exploring and advancing properties in Canada and Chile. An exploration programme is currently underway on the Chilean property. 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 905-886-2538, 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.

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