Goldeye Explorations Limited

Goldeye Explorations Limited

October 19, 2009 18:35 ET

Goldeye Announces Grant of Stock Options

TORONTO, ONTARIO--(Marketwire - Oct. 19, 2009) - Goldeye Explorations Limited (TSX VENTURE:GGY) is pleased to announce that the company has granted a total of 825,000 stock options to certain directors and consultants pursuant to its incentive stock option plan. The new options are exercisable at $0.10 per share until October 19, 2014.

A 3,000 meter drill program has commenced on the Big Dome Zone on the Tyrrell Township property located 100 km south of Timmins, Ontario. The drill program will focus on expanding the high grade gold mineralization along strike and to depth. The grade of many Archean gold systems improves at depths below 500 m. To date, fewer than 10% of Goldeye drill holes reach this depth. The present program will begin the testing on the sub-500 m level of the Big Dome Zone.

Goldeye is pursuing its wholly owned gold properties in Canada: Tyrrell and Sandy Lake (Ontario) and its gold/silver project in central Chile, Sonia Puma. It also retains interests in the Todd Creek (Stewart Mining Camp, BC) project, and the 100% owned Tribute Minerals Inc. project in the McFaulds Lake area, northern Ontario.

There are currently 108,147,893 common shares issued and outstanding.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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